Key Points
- HBO’s attempt to unmask Bitcoin’s creator Satoshi Nakamoto as Peter Todd has failed.
- The identity of Bitcoin’s creator remains a mystery, despite various speculations.
The endeavor by American pay television network, HBO, to unmask the real identity of the creator of Bitcoin, known by the pseudonym Satoshi Nakamoto, has ended in disappointment. According to a documentary series by HBO titled “Money Electric: The Bitcoin Mystery”, the network suggested that the legendary Bitcoin core developer, Peter Todd, was the original creator of the leading cryptocurrency.
Allegations and Denials
The documentary posits that Todd, while in his twenties, developed the Bitcoin network and adopted the Satoshi Nakamoto pseudonym to gain credibility. HBO filmmaker Cullen Hoback, who spearheaded the attempt to expose the Bitcoin creator, claimed that Todd inadvertently revealed his identity during a conversation held during the Satoshi era.
The filmmaker also suggested that Todd created an anonymous BitcoinTalk contributor, John Dillon, to release Replace-by-Fee (RBF), which was later introduced in 2014. Intriguingly, Hoback also suggested that Todd destroyed access to Satoshi’s 1 million Bitcoin stash, which remains untouched to date.
Despite these allegations, Todd has strongly refuted claims that he is the original creator of Bitcoin. However, Todd continues to be a significant contributor to Bitcoin amid the growing adoption of digital assets and web3 platforms worldwide.
The Mystery Continues
For over a decade, the identity of the original Bitcoin creator has remained a mystery, despite various theories. Some key figures involved in Bitcoin’s early development have since passed away, while others remain active.
Interestingly, data from Polymarket, a decentralized prediction market platform, shows that none of its users placed a bet on Todd. Most users placed their bets on Adam Back, Hal Finney, Len Sassaman, Nick Szabo, and Paul Le Roux.
As a result, those who speculated on the HBO documentary lost millions of dollars. According to Ki Young Ju, the founder and CEO of Cryptoquant, the focus should not be on identifying Bitcoin’s real creator, as it distracts from the bigger picture. With Satoshi’s Bitcoin stash remaining untouched, Young emphasized that the Bitcoin network is robust and enjoys the trust of millions of global investors.
Market Impact
The release of the HBO documentary did not significantly impact Bitcoin’s price. Recent market data shows that the Bitcoin price hovered around $62.2K in the past 24 hours, with a noticeable increase in trading volume.
According to Santiment’s data analysis, a significant spike in dormant activity on Bitcoin’s network was recorded on Tuesday, coinciding with $37.4B in on-chain volume, the highest in seven months.
Ahead of the FOMC meeting minutes, the Bitcoin price could test the support level around $61.5K before rebounding towards its all-time high.
It’s worth noting that HBO is owned by Warner Bros. Discovery Inc., and BlackRock, one of the world’s major institutional Bitcoin holders, owns 165 million shares of Warner Bros.
