🟠#BTC

The whale holding 80K BTC turned out to be Adam Back — the man proclaimed as Satoshi Nakamoto in the HBO documentary.

He sold 40K BTC through Galaxy Digital.

Another 30K BTC was deposited in exchange for equity in the investment firm Cantor, founded by Howard Lutnick — the current U.S. Secretary of Commerce.

A simple explanation for this move could be:

After HBO publicly labeled him as Satoshi Nakamoto, Adam Back realized that walking around with a target on his back wasn’t exactly a comfortable position.

So — he sold the majority of his BTC, partly to legitimize his large capital and build a protective structure around himself. After the film, it’s likely that Lutnick and his circle reached out, offering a “safe harbor” and strong backing.

Eventually, after considering an offer that was hard to refuse, Back contributed 30K BTC in exchange for equity in a future company.