Satoshi Nakamoto was finally 'unmasked' in 2024. But not just once, but multiple times, and it's quite strange.
Throughout the year, numerous individuals have claimed to be the legendary founder of Bitcoin. Meanwhile, some others assert they have discovered the identity of a person who could own an asset surpassing $100 billion.
However, all these unmasking attempts have been unsuccessful.
More than 16 years since Bitcoin's inception, the true identity of Satoshi remains a mystery and poses a potential threat to the cryptocurrency ecosystem if his massive Bitcoin stash is discovered and released to the market.
Crypto: The billion-dollar market
During this time, crypto has become an industry of immense value. Bitcoin alone has risen to a value of $1.9 trillion, accounting for a large portion of the total $3.6 trillion value of the cryptocurrency market. Wall Street has also joined the fray by launching Bitcoin ETF funds.
The wallets linked to Satoshi currently hold over 1 million Bitcoin, a treasure trove of assets that could make its owner one of the 20 richest people on the planet.
Concerns about the 'mystery' of Satoshi and its impact on the market
Analysts have long expressed concerns that revealing Satoshi's identity could lead to the Bitcoin founder selling his Bitcoin stash, causing the value of the currency to plummet. Furthermore, this could encourage bad actors to attempt to seize that valuable asset.
Coinbase, the US-listed cryptocurrency exchange, frequently refers to the unmasking of Satoshi as a significant risk in its public reports.
The list of strong candidates in 2024
As one of the biggest mysteries in modern financial history, many have put forth hypotheses about Satoshi's identity in 2024:
Craig Wright
Since 2016, Craig Wright has claimed to be Satoshi Nakamoto, but his claims have not been accepted by the crypto community, leading to him being branded Faketoshi. Despite supporting his claims with hundreds of blockchain patents and a love for Japanese culture, he has not been able to prove anything.
A UK court ruled that Wright is not the founder of Bitcoin, and his allegations contain serious flaws, including references to non-existent lawsuits. He also faces prison time in the UK for lying to the court.
Len Sassaman
The hunt for Satoshi became lively in October when director Cullen Hoback announced he would reveal the identity of Bitcoin's founder in the documentary 'Money Electric: The Bitcoin Mystery.' The film aired in November, fueling speculation and bets about who Hoback would recognize. The most bet-on name is Len Sassaman, but his wife has denied this information.
Peter Todd
Instead of Len Sassaman, Hoback specifically named Peter Todd, a prominent Bitcoin developer. Hoback presented evidence that he claims is 'clear,' such as Todd's responses to Satoshi's statements and the timing of Satoshi's activities coinciding with Todd's vacation.
However, Todd has denied all allegations and claims that this evidence is too weak, even 'vague' and 'conspiracy theory.'
Stephen Mollah
On the exact 16th anniversary of Bitcoin's inception, on October 31, 2024, a programmer named Stephen Mollah claimed to be Satoshi Nakamoto in a meeting in London. Nevertheless, Mollah and promoter Charles Anderson struggled to connect the computer to the internet, not to mention the lack of verifiable evidence for their claims.
Although these 'unmaskings' attracted significant attention, the true identity of Satoshi remains a mystery, raising questions about its impact on the future of Bitcoin and the entire crypto market.