The identity of Bitcoin founder Satoshi Nakamoto has long been one of the cryptocurrency world's biggest mysteries.
An HBO documentary called Money Electric: The Bitcoin Mystery, which was released in October, reignited the debate by naming Canadian developer Peter Todd as the mysterious figure behind BTC.
This claim has drawn widespread criticism from the Bitcoin community, who have called the suggestion reckless and baseless.
Despite the backlash, the film’s director, Cullen Hoback, remains steadfast in his claim. “The evidence led me to Todd,” Hoback said in a recent interview, suggesting that Todd’s public denial of being Satoshi was part of Nakamoto’s effort to protect his anonymity.
Todd, a 39-year-old software developer, has consistently denied the allegation, calling the evidence “flimsy to the point of conspiracy.” Speaking at a Bitcoin-themed bar in New York City on Nov. 11, Todd suggested Hoback had ulterior motives for naming him. “Cullen went to HBO saying he was going to do a documentary on the rise of Bitcoin, but he realized we were more antisocial and less watchable than the QAnon crew,” Todd joked.
But Todd has also expressed serious concerns about his safety following the documentary, as being identified as Satoshi, who is believed to control an estimated 1.1 million Bitcoins (worth $94 billion), could make him a target for kidnappings or robberies.
“I’m not a rich man; I can’t afford a real security guard,” said Todd, who has since taken measures to increase his personal security.
The Bitcoin community has overwhelmingly rejected Hoback’s claim. Muneeb Ali, founder of Bitcoin Layer 2 Stacks, called the claim baseless. “Anyone who works seriously in the Bitcoin industry knows this,” he said.
Others criticized the documentary for trying to unmask Satoshi, arguing that anonymity is an integral part of Bitcoin’s philosophy. “It’s unethical to at least try to find him,” Todd said, adding that revealing Satoshi’s identity could destabilize the cryptocurrency market.
Hoback, previously known for his work on the QAnon conspiracy theory, defended his choice to focus on Satoshi’s identity by arguing that understanding the founder’s intentions was crucial. “It’s important to know who this person is,” Hoback said. Hoback denied accusations that naming Todd was a publicity stunt, claiming there was more evidence to support his theory than could be included in the film.
Hoback did acknowledge, however, that Todd may not fit the idealized image of Satoshi. “I don’t think Todd is the person that people want Satoshi to be,” he said.
*This is not investment advice.