Why hasn't Satoshi Nakamoto sold his Bitcoin yet?

The reason is officially unknown, but there are several theories circulated by experts and the digital community:

1. Satoshi has died

One strong possibility is that "Satoshi Nakamoto" may have passed away, which is why none of his wallets containing over a million Bitcoins have been moved since 2009.

2. He wants to remain anonymous

If he moves the Bitcoin, it would open the door to tracking him digitally, which could lead to revealing his true identity. Therefore, he may choose not to sell to protect himself and his identity.

3. Ideological conviction

Some analysts believe that Satoshi built Bitcoin as a liberating project from the traditional financial system, and perhaps preferred not to benefit personally from it, leaving it as a "gift to humanity".

4. Fear of market collapse

If Satoshi started selling millions of Bitcoins, there would be a panic wave in the market which could lead to a significant price collapse, so it's likely he does not want to harm the currency he founded.

5. The keys are lost

Another possibility is that Satoshi lost the keys to his old wallets, and therefore he is effectively unable to move the Bitcoin.

✅ Summary:

Whether Satoshi is dead, alive, or in hiding, his not selling Bitcoin has added a significant level of trust, moral weight, and historical importance to the Bitcoin network.