Cryptocurrency exchange Coinbase warned in its initial public offering (IPO) document that if the identity of the anonymous Bitcoin inventor Satoshi Nakamoto is revealed, the Bitcoin and Ethereum markets could deteriorate significantly. The San Francisco, California-based company also pointed out in a document submitted to the U.S. Security and Exchange Commission that the identification of a mysterious inventor may also have an adverse effect on its business and greatly reduce the Bitcoin and Ethereum in the cryptocurrency market. price. Although there is no public information about the creator of Bitcoin, the name Satoshi Nakamoto was used under a pseudonym in the Bitcoin white paper published in 2010.
Coinbase stated in its stock exchange documents that Satoshi Nakamoto’s identification will directly affect Bitcoin and Ethereum. The company also foresees that, in addition to the disclosure of its identity, the transfer of Bitcoin by investors may hit the cryptocurrency market.
The reason is that Nakamoto is believed to have about one million bitcoins-11 million of the global total. This may be worth 40 billion U.S. dollars (approximately 29.767 billion rupees), and in January Bitcoin reached the 1 trillion dollar (approximately 74,16,320 billion rupees) benchmark. However, the identity of the creator remains a mystery.
Nakamoto’s anonymity helped make Bitcoin and Ethereum’s decentralized currencies a part of the global economy. Therefore, it is speculated that his identity may affect the nature of cryptocurrency and place it under the supervision of a single entity. This may cause investor frustration.
Coinbase’s IPO file also emphasizes that negative views on Bitcoin and Ethereum may also affect the crypto economy and reduce its value.
The document also mentions: “Laws and regulations affecting Bitcoin and Ethereum networks or access to these networks, including determining whether Bitcoin or Ethereum constitute securities or other regulated financial instruments under the laws of any jurisdiction.” Will affect cryptocurrency.
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