A new HBO documentary claims to reveal the true identity of Satoshi Nakamoto, the enigmatic figure behind the world's first cryptocurrency, Bitcoin.
If proven true, this revelation could shake financial markets and even impact the US presidential election, where Republican candidate and former President Donald Trump in particular is drawing support from Bitcoin enthusiasts.
Documentary About Satoshi Nakamoto To Be Released Next Wednesday
The documentary is the latest work from Emmy-nominated filmmaker Cullen Hoback, best known for his critically acclaimed Q: Into the Storm series exposing the founders of the QAnon conspiracy theory. The highly anticipated reveal about Bitcoin’s creator will air next Wednesday at 03:00 GMT (Tuesday 21:00 GMT).
Introduced in 2009 by the anonymous Nakamoto, Bitcoin has become a trillion-dollar financial asset, gaining popularity as a censorship-resistant cryptocurrency. It has attracted those concerned about the devaluation of traditional currencies, investors looking for speculative opportunities, and those involved in illegal transactions. Backed by names such as Tesla and SpaceX CEO Elon Musk, Bitcoin’s rise has challenged financial institutions and forced central banks to acknowledge its potential as a rival to their own systems.
The identification of Satoshi Nakamoto could raise significant questions about his involvement in the use of Bitcoin for illicit activities and his potential status as one of the world’s richest people. Nakamoto is believed to control around 1.1 million Bitcoins, worth around $66 billion at current values. But it remains unclear whether Nakamoto still has access to the cryptographic keys that would unlock his vast fortune.
Ahead of the documentary’s release, several dormant Bitcoin wallets from the “Satoshi era” have been revealed for the first time in over a decade. According to Bitcoin Magazine, around 250 Bitcoins worth around $15 million have been moved from these wallets in the past two weeks. While these wallets are not definitively linked to Nakamoto, their dormancy since the early days of Bitcoin suggests they may have belonged to some of Nakamoto’s early collaborators.
Nakamoto’s true identity has remained a mystery since the Bitcoin whitepaper was published in 2008. After gaining support from the cypherpunk community of cryptography and coding enthusiasts, Satoshi Nakamoto disappeared from public view in 2010. His last communication was a message warning WikiLeaks not to use Bitcoin, fearing that the attention it would bring could harm the fledgling BTC.
Over the years, many people have tried to solve the mystery of Satoshi. One of the most notable attempts came in 2014, when journalist Leah McGrath Goodman identified Japanese-American Dorian Nakamoto as a suspect, a claim Nakamoto denied.
*This is not investment advice.