According to reports, the identity of Bitcoin creator Satoshi Nakamoto will be revealed in a new HBO documentary next Wednesday. The documentary Money Electric: The Bitcoin Mystery was created by renowned American director and producer Cullen Hoback.
According to the trailer, it will feature significant individuals such as Blockstream CEO Adam Back and Jan3 CEO Samson Mow.
Satoshi Nakamoto created Bitcoin after the Great Depression economic collapse in 2007 – 2008. BTC has had market success this far owing to the pseudonymous nature of its creator.
Is this documentary another rodeo? Bitcoin investors have been down this path before with claims from Craig Wright. One of two things will happen after the documentary release: Investors will move on with trade like nothing happened. Two, the market could crash or surge depending on who is named Satoshi.
Whales have begun moving Satoshi Era Bitcoin. According to on-chain data from Whale Alert, a mysterious Bitcoin whale, which has not been active for 10.8 years, has moved 100 BTC from the old address “17tdW8” to the new address “bc1qqy6.”
Bought 11 years ago for just $91,940, the BTC is now worth $6.12 million. The allure of identifying Satoshi is understandable, given Bitcoin’s $1.2 trillion market cap. His holdings are reportedly 1.1 million BTC, currently worth more than $65 billion.
And NO, you won’t know who Satoshi Nakamoto is next week. Over the years, investors have seen many half-baked attempts to “unmask” Satoshi. Well, this is another rodeo, and it won’t provide definitive proof, either.
The drill is simple: someone claims to know or be Satoshi, and theories circulate, but there is always a lack of sufficient evidence, and the accuser is eventually embarrassed.
Ideally, Satoshi should stay anonymous, as he wished. Bitcoin succeeds because of its decentralized design, which is not based on an individual. Unmasking Satoshi threatens Bitcoin’s mystery and independence.
The only person who can definitively prove they are Satoshi is Satoshi himself. Until then, the mystery remains, as it should.