Ripple CTO Emeritus David Schwartz Explains Why No One Alive Likely Has Satoshi's Keys
TL;DR
Ripple's CTO Emeritus David Schwartz argues that no one likely has access to Satoshi Nakamoto's Bitcoin keys, suggesting they may have been lost or forgotten. He emphasizes that the debate over Satoshi's identity is less important than the reality of the inaccessible one million Bitcoins.
Key points
- David Schwartz claims Satoshi's keys are likely lost or forgotten
- Satoshi's holdings could amount to $70-$80 billion
- Recent discussions about Satoshi's identity were sparked by a New York Times investigation
Amid a new wave of discussions about who actually created Bitcoin, triggered by a recent investigation by the New York Times, CTO Emeritus of Ripple David Schwartz delivered a rather sobering statement, saying that the debate over who exactly is behind the pseudonym Satoshi Nakamoto is secondary compared to the technical reality — access to the legendary one million Bitcoins has most likely been permanently lost.
Schwartz’s arguments are simple. He believes that over 17 years, anyone’s views change radically, and the idea that someone could consciously ignore a fortune of at least $70-$80 billion without making a single transaction looks implausible.
No. But if it's four people, it's possible that it takes more than one of them to access the keys. It's also possible that some of the keys weren't kept.
— David 'JoelKatz' Schwartz (@JoelKatz) April 10, 2026
Therefore, in his view, the genesis keys were most likely destroyed or forgotten back when Bitcoin had no market value, making Satoshi’s holdings dead weight that will never put pressure on the market.
"Not true, but plausible": Why the crypto world suspected David Schwartz was Satoshi
Ironically, David Schwartz himself was long considered one of the main Satoshi suspects for his role as Bitcoin’s creator. He is the author of multiple patents in distributed computing dating back to 1988. His deep knowledge of cryptography can be clearly seen in the design of the XRP Ledger and XRP as one of the largest cryptocurrencies.
However, several years ago, responding to such claims, Schwartz directly called the theory of his involvement in Bitcoin’s creation untrue, though plausible, acknowledging that he has the necessary skills but consistently emphasizing that he only learned about Bitcoin in 2011.
In summary, while the industry continues searching through the cypherpunk mailing list archives for answers as to who Satoshi Nakamoto really is, Schwartz is one of the few who brings the discussion out of the realm of myth into the domain of mathematics and key security, stating that access to those Bitcoins has most likely either been lost forever or simply destroyed.
Q&A
Why does David Schwartz believe Satoshi's Bitcoin keys are likely lost?
David Schwartz argues that over 17 years, anyone's views change significantly, making it implausible for someone to ignore a fortune of $70-$80 billion without making a transaction, suggesting the keys may have been destroyed or forgotten.
What is the estimated value of the Bitcoins associated with Satoshi Nakamoto?
The Bitcoins associated with Satoshi Nakamoto are estimated to be worth at least $70-$80 billion.
What triggered the recent discussions about Satoshi Nakamoto's identity?
The discussions were triggered by a recent investigation by the New York Times regarding who created Bitcoin.
