The Mystery Behind Bitcoin’s Elusive Founder and Its Impact on The Crypto Market
In Kenya, Bitcoin underpins a trillion-shilling cryptocurrency industry.
It’s now traded by major global investment firms and has even become an official currency in El Salvador. Yet, a key mystery lingers: who is its elusive founder, Satoshi Nakamoto?
Many have speculated, but none have succeeded in revealing Satoshi’s true identity. In October, an HBO documentary stirred things up by suggesting a Canadian Bitcoin expert, Peter Todd, might be the founder. However, Todd denied the claim, and the crypto world quickly dismissed it.
Then came fresh buzz: an announcement hinted that Nakamoto would unmask himself in a press event. This news had the global crypto community – and our newsroom – on edge. After all, Satoshi is more than just a brilliant programmer; they hold over a million bitcoins, worth billions of shillings today, making them one of the wealthiest individuals in the world.
The press event turned into a bizarre spectacle, held at London’s prestigious Frontline Club. Only a dozen journalists attended, some skeptical from the start. Organizers required payment for prime seating and even more for unlimited questions – a strange move for such a high-profile event.
The “Satoshi” on stage, a man named Stephen Mollah, made bold declarations but failed to provide any evidence. His promise to prove his identity by accessing the first-ever bitcoins went unfulfilled, leaving journalists baffled and unconvinced.
The quest for Satoshi’s identity has seen many false leads over the years. In 2014, Newsweek claimed a Japanese-American named Dorian Nakamoto was Satoshi, a theory later debunked. Australian scientist Craig Wright also claimed the title, only to provide no proof. Even Elon Musk’s name was thrown into the mix, which he flatly denied.
Some question if it even matters who Satoshi is. The global crypto market, now worth more than Google, shows that Bitcoin’s popularity doesn’t hinge on its creator’s identity. Adam Back, a core developer, even sees Satoshi’s anonymity as a positive.
Bitcoin podcaster Natalie Brunell argues that anonymity prevents any individual from influencing the currency’s protocol.
Others, like finance professor Carol Alexander, believe the focus on Satoshi distracts from deeper questions about cryptocurrency’s economic impact.
For now, the identity of Satoshi Nakamoto remains a mystery – perhaps one that will never be solved.
