Satoshi Nakamoto was ultimately 'unmasked' in 2024. But not just once, but multiple times, and it was quite strange.
Throughout the year, numerous individuals have claimed to be the legendary founder of Bitcoin. Additionally, others have asserted that they have discovered the identity of someone who could possess a fortune exceeding $100 billion.
However, all these unmaskings were unsuccessful.
More than 16 years since Bitcoin's inception, the true identity of Satoshi remains a mystery, while also posing a potential threat to the crypto ecosystem if his massive Bitcoin stash is discovered and released into the market.
Crypto: The Billion-Dollar Market
Throughout this time, crypto has become an industry of immense value. Bitcoin alone has soared to a value of $1.9 trillion, accounting for a large portion of the total $3.6 trillion market value of cryptocurrency. Wall Street has also joined the fray by launching Bitcoin ETF funds.
The wallets linked to Satoshi currently hold over 1 million Bitcoins, a treasure trove of assets enough to 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, driving the value of the coin down. Furthermore, this could encourage bad actors to attempt to seize that valuable asset.
Coinbase, the cryptocurrency exchange listed in the US, frequently cites the unmasking of Satoshi as a major risk in its public reports.
List of prominent candidates in 2024
As one of the greatest mysteries in modern financial history, many have speculated about the identity of Satoshi 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, branding him as Faketoshi. Despite supporting his claim with hundreds of blockchain patents and a love for Japanese culture, he still couldn't prove anything.
A British court ruled that Wright is not the founder of Bitcoin, and his claims contained serious flaws, including references to non-existent cases. He also faces prison time in the UK for perjury.
Len Sassaman
The hunt for Satoshi heated up in October when director Cullen Hoback announced he would unveil the identity of Bitcoin's founder in the documentary 'Money Electric: The Bitcoin Mystery.' The film aired in November, fueling speculation and bets about whom Hoback would recognize. The most bet name was Len Sassaman, but his wife denied this information.
Peter Todd
Instead of Len Sassaman, Hoback specifically named Peter Todd, a prominent Bitcoin developer. Hoback presented evidence that he deemed 'clear,' such as Todd's responses to Satoshi's claims and the timing of Satoshi's activity coinciding with Todd's vacation.
However, Todd denied all accusations and claimed that the evidence was too weak, even 'vague' and 'conspiracy theory.'
Stephen Mollah
On the 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. However, Mollah and promoter Charles Anderson struggled to connect their computer to the internet, not to mention the lack of authenticating 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.
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