When you look at the wealth ranking of billionaires on the blockchain, something becomes clear all over again: the staggering scale of Satoshi Nakamoto’s assets.

According to Arkham’s data, the assets held by Bitcoin’s creator, Satoshi Nakamoto, reach $115 billion. This immense fortune, spread across 22,000 addresses mined between 2009 and 2010, is at a level that would put him in the world’s top 20 even on the Bloomberg Billionaires Index. However, since nobody can be sure whether Satoshi Nakamoto is an individual or a team, there’s room for debate as to whether this should be included in the ranking.

If Satoshi Nakamoto’s assets were to move, it could deliver a major shock to the entire crypto market. That’s exactly why the movement of this address is watched more closely than anything else in the industry.

What’s interesting is the lineup of the billionaires that follows. Justin Sun holds $1.9 billion in on-chain assets. Known as the founder of TRON, he has recently been making headlines over disputes involving a Trump-supporting cryptocurrency project.

But what’s truly instructive are the cases of Rain Romeus (ranked 3rd) and James Howell (ranked 5th). Both are known as “unlucky” individuals who lost their private keys. Romeus participated in Ethereum’s early ICO and earned 250k ETH, only to later lose his wallet’s private key. Currently, ETH worth $850.4 million remains locked forever. As for Howell, during a cleanup in 2013 he accidentally discarded a hard drive containing the private keys to 8,000 BTC. It’s still buried in a landfill.

Vitalik Buterin holds $867 million in on-chain assets. As a co-founder of Ethereum who received ETH allocations at the early stage, his assets have grown substantially since the network was launched. However, he has also received large amounts of tokens from meme coin projects such as Shiba Inu. It’s an unintended receipt, but it’s a phenomenon that can happen precisely because the address is public.

There’s another unlucky case: Stefan Thomas. The early Bitcoin developer received 7,002 BTC as a reward, but lost the password memo for his IronKey hardware wallet. The device is designed to erase data after 10 failed attempts, and he has already tried 8 times. Only two chances remain to unlock assets worth more than $700 million.

When you look at the rankings, you can see just how distinctive Satoshi Nakamoto’s asset scale is. The other whales also tend to be holders in the range of a few million to several billion dollars, but in many cases their assets are permanently locked due to failures in private key management. This symbolizes the risks of self-custody wallets.

Last week, Owen Ganden began transferring 1,800 BTC (about $200 million) to a certain major exchange, dropping from 3rd place to 8th place in the rankings. It’s unclear whether it was for trading or other purposes, but whale movements tend to ripple across the entire market.

Also appearing in the lower rankings are Mao Shixing (DiscusFish), Patricio Werthaler, James Fickel, and others. They each hold on-chain assets around $200 million as well.

When you look at this ranking, you can see that in the world of cryptocurrencies, foresight at an early stage—like Satoshi Nakamoto’s—often determines the scale of assets that comes later. At the same time, it makes you painfully aware of the importance of private key management. Even assets worth billions of dollars are basically just paper without a private key. That’s both the essence and the risk of crypto assets.