HBO’s (
WBD
) latest documentary, “
Money Electric: The Bitcoin Mystery
,” premiering Tuesday,
promises to delve into one of the greatest enigmas of the digital age: the identity of Bitcoin’s elusive creator
, believed to be among the richest and most enigmatic individuals on the planet.
Though the full revelations remain to be seen, the documentary raises crucial questions: Who is truly behind Bitcoin, and why has its creator gone to such lengths to remain anonymous? Understanding this mystery could shed light on the foundations of the cryptocurrency revolution.
Who is Satoshi Nakamoto, and why did he create Bitcoin?
Satoshi Nakamoto, an anonymous person or a group of people, introduced Bitcoin to the world in 2008 . The goal was to create a decentralized digital currency free from the control of governments and central banks.
Unlike conventional currencies, Bitcoin functions on a peer-to-peer network, which means transactions happen directly between users — without an intermediary such as a bank. Bitcoin was officially launched on Jan. 3, 2009, when the first block of transactions, known as the genesis block, was mined.
Nakamoto introduced the concept of limiting the quantity of crypto and making it more valuable to combat inflation, which is why Bitcoin’s supply is limited to a maximum of 21 million coins.
Nakamoto is rich and anonymous
The anonymous creator reportedly possesses approximately 1 million Bitcoin stored in multiple wallets. At the current price, that would be worth around $63 billion.
Nakamoto was involved in the creation of Bitcoin and blockchain until 2010 but has not been heard from since. The inventor of Bitcoin may have wanted to remain anonymous to safeguard their identity from governments, or this anonymity may have been intentional because the core idea behind Bitcoin is to promote decentralized finance. If Satoshi’s identity were revealed, the Bitcoin blockchain may not function as effectively.
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