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HBO’s new documentary, *Money Electric: The Bitcoin Mystery*, stirred up controversy, as a Canadian cryptographer and early core developer, Peter Todd, was identified as the mysterious creator of Bitcoin, known under the pseudonym Satoshi Nakamoto. The movie by Cullen Hoback was released on October 9 at 8:00 pm on HBO Max and raised fervent speculation within the cryptocurrency community.
The documentary makes its argument for Todd largely due to his deep involvement in Bitcoin’s development and immense knowledge of cryptography and blockchain technology. Hoback mentions that Todd actively contributed to Bitcoin’s codebase from the very beginning and participated in early online discussions in forums, using pseudonyms, which shaped the future of cryptocurrency. In fact, those pseudonymous forum discussions reflect one of Satoshi’s key principles: anonymity.
Peter Todd Speaks Out About This
In an interview, Hoback directly asks Todd if he created Bitcoin. Without hesitation, Todd replies, “Yes, I am Satoshi Nakamoto.” This statement forms the central argument of the documentary.
However, Todd’s confession is met with skepticism. The cryptographer has used this phrase before as a symbolic defense of the real Bitcoin creator’s right to privacy. Hours before the documentary aired, Todd strongly denied Hoback’s theory. In a statement to CoinDesk, Todd called the claim “weak” and accused Hoback of employing a “QAnon-style conspiracy theory.”
“Of course, I’m not Satoshi,” Todd posted in a thread on his official X account, clarifying that Hoback had misinterpreted his past remarks and the statement made in the documentary.
Hoback, who previously produced a QAnon documentary, bases his theory on circumstantial evidence: Todd’s interactions with several figures involved in Bitcoin’s early development and his tendency to use pseudonyms in online discussions. While the theory is bold, Todd is far from the first person to be considered as Satoshi Nakamoto. Other rumored candidates have included cryptographers Len Sassaman, Hal Finney, Adam Back, and Nick Szabo.
Leaked footage from the documentary surfaced online hours before its release, adding intrigue and fueling more debate. Prior to the premiere, betting platform Polymarket reported that 78% of bettors believed the movie would name a previously unknown figure as Satoshi. Few expected Peter Todd’s name to come up.
Money Electric: The Bitcoin Mystery has reignited the long-standing debate over Satoshi Nakamoto’s identity, but it remains unproven whether Peter Todd is indeed Bitcoin’s creator. As speculation continues in the cryptocurrency world, Todd’s denial and the documentary’s controversial conclusions leave the mystery unresolved.
