On December 5, Bitcoin's price fell 6% to around $92,000 before recovering to about $98,227, marking a 4.1% decline for the day.

In a recent CNBC interview, Mike Novogratz, CEO of Galaxy Digital, speculated that Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is likely deceased, especially in light of Bitcoin's recent surge to around $103,600.

Novogratz noted that if Satoshi were still alive, he would likely be pleased with Bitcoin's rise past the $100,000 mark.

Despite the significant price movements, the identity and status of Satoshi Nakamoto remain shrouded in mystery, with ongoing speculation about who he or she might be.

Many in the cryptocurrency community appreciate the enigma surrounding Satoshi's identity, which continues to fuel interest and debate.

Recent discussions have included a controversial HBO documentary that named Peter Todd as Satoshi, a claim he and much of the crypto community have dismissed.

The speculation extends to other candidates like Hal Finney, an early Bitcoin adopter who passed away in 2014, further complicating the search for Satoshi.

Novogratz described Bitcoin as a remarkable collaboration of many individuals, evolving from a simple payment method to being regarded as 'digital gold'.

Bitcoin now supports a massive $3.7 trillion cryptocurrency industry and has become a traded asset on Wall Street.

He highlighted a global buying frenzy for Bitcoin, emphasizing its status as one of the first truly global assets.

However, Novogratz cautioned that the high level of leverage in the Bitcoin market could lead to significant corrections, predicting painful price retracements for investors.

Currently, Bitcoin is trading at approximately $97,989, having experienced a drop from a low of $92,980 earlier in the day.