What is a Satoshi?
Satoshis are named after the founder of Bitcoin, Satoshi Nakamoto. Satoshi Nakamoto is renowned for writing the famous Bitcoin Whitepaper and developing Bitcoin as well. It is estimated that Satoshi holds the largest Bitcoin cache in the world; more than 1 Million BTC which is worth tens of billions of dollars today!
Satoshi Nakamoto’s identity is unknown and remains to be hidden from the public. No one knows about the person or people that are responsible for the creation of Bitcoin & the pseudonymous name that is, Satoshi Nakamoto.
Satoshis are considered to be a fraction of a Bitcoin. They are simply put, more or less, to a Bitcoin what a penny is to a dollar.
A Satoshi is the smallest unit of the bitcoin currency recorded on the Blockchain. In comparison to the U.S dollar, $1 = 100 pennies whereas 1 Bitcoin = 100,000,000 Satoshis. Take the price of bitcoin in dollars and divide it by 100,000,000 (the number of satoshis in a bitcoin). So if bitcoin is worth $30,000 for example, divide it by 100,000,000. You would get $0.0003. This is what 1 satoshi is worth.
Investing in Satoshi is considered as investing in Bitcoin. Because the price of ONE Bitcoin is too high for many people, a worthwhile investment is to buy a fraction of it instead. Satoshis are a great way to start investing in Bitcoin for everyone including but not limited to senior citizens, students, and low-income families trying to get into Bitcoin.
Disclaimer: The information and content manifested on the Black Swan Bitcoin blog are for educational purposes only. Nothing published by Black Swan Bitcoin constitutes as investment recommendation, nor should any data or content published by Black Swan Bitcoin be relied upon for any investment activities.