Bitcoin is a revolutionary currency whose success continues to baffle the entire world. It has independently inspired a global industry, currently valued at over $3 trillion. Many critics described it as a scam and a bubble that would soon burst, but Bitcoin has increasingly demonstrated its outstanding resilience to inflationary risks.
Bitcoin is currently market capitalization’s most lucrative virtual asset and most prominent cryptocurrency. It primarily serves as an alternative payment means, but investors are also increasingly attracted to it as a haven asset. Bitcoin now boasts the most significant trading volumes on leading stock exchanges and crypto exchange platforms such as quantum-ai.trading
While several mysteries exist about Bitcoin, the identity of its founder is one of the best-kept secrets that analysts have not been able to crack. Bitcoin’s creator goes by a pseudonym, Satoshi Nakamoto, but no one knows the actual person or group the name represents. Some believe the title refers to an individual, while others think it is a group of people.
The Identity of Satoshi Nakamoto
The Bitcoin whitepaper, the document that describes its concepts and how the crypto works, identifies Satoshi Nakamoto as the author. Research shows Satoshi Nakamoto worked on the first version of the Bitcoin software in 2007, communicating with other developers via email. However, the reports do not reveal Satoshi Nakamoto’s personal and background details, making it impossible to unearth the entity’s actual identity.
Reports also show Nakamoto’s last involvement with Bitcoin was in 2010, through email correspondence to another crypto developer saying they had “moved on to other things.” The increasing numbers, popularity and notoriety of crypto have attracted significant speculation about the face and name of the individual or group behind the pseudonym Satoshi Nakamoto.
Some researchers have attempted to unearth Satoshi Nakamoto’s identity by the amount of Bitcoin tied to that name. However, it has also proved extremely difficult to know how much Bitcoin Nakamoto owns because they might have used different wallet addresses to mine early blocks. Some crypto enthusiasts believe Bitcoin wallets linked to Nakamoto hold about 1.1 million BTC, equivalent to an estimated $30 billion as of June 2022. That represents a significant share of Bitcoin since its supply is limited to 21 million BTC only.
Satoshi Nakamoto has proved elusive despite the numerous attempts to reveal their identity. However, people have linked three names to Satoshi Nakamoto in the past.
Dorian Nakamoto is perhaps the most high-profile attempt at revealing Satoshi Nakamoto’s true identity. A mainstream publication, Newsweek, identified Dorian Nakamoto as the Bitcoin founder in 2014, citing several similarities between him and Satoshi Nakamoto. For instance, both supposedly had a Japanese connection with libertarian views. However, Dorian later denied the allegations.
Most individuals suspected of being Satoshi Nakamoto have denied the claims or remained silent, but not Australian scientist Craig Wright. Wired Magazine published an article in 2015, claiming they had the most substantial evidence of Satoshi Nakamoto’s real identity. The publication reported Wright’s appearance at the 2015 Bitcoin Investors’ Conference in Las Vegas via Skype. Unlike others, Wright claimed he was a bit of everything and had involved himself with Bitcoin for a long time but tried to keep his head down. The magazine even leaked emails, correspondences and meeting transcripts with Wright’s lawyers and tax officials, where some quoted him saying he did his best to hide the fact that he had been running Bitcoin since 2009. However, no one has verified those claims.
Satoshi Nakamoto takes the credit for developing Bitcoin’s blockchain, writing its whitepaper, and mining the first block. However, the identity of the individual or group behind Bitcoin remains a mystery despite the numerous claims by crypto researchers, analysts and publications.