HBO Documentary “Money Electric” Sparks Debate Over Bitcoin Creator’s Identity

The mystery surrounding the true identity of Bitcoin creator Satoshi Nakamoto has been reignited by a new HBO documentary titled “Money Electric: The Bitcoin Mystery.” The film, directed by Cullen Hoback, claims to unmask the enigmatic figure behind the cryptocurrency’s inception in 2009.

However, the individual named in the documentary, Peter Todd, a well-known Bitcoin core developer, has publicly denied these claims. “For the record, I’m not Satoshi,” stated Todd in response to the documentary. He further criticized the film as “irresponsible” and suggested it posed a risk to his personal safety.

Todd lamented not being contacted by HBO prior to the film’s release and not given an opportunity to review it beforehand. He described the documentary’s assertions as relying on coincidences and engaging in “conspiracy thinking.”

HBO, which like CNN is owned by Warner Bros. Discovery, declined to comment on the situation. Nonetheless, director Cullen Hoback expressed confidence in his conclusions, stating, “Peter was there that day. He knows what was discussed. He had every opportunity to explain himself.”

The secrecy surrounding Nakamoto’s identity has fueled a plethora of theories over the years, not least because the individual — or possibly group — is believed to control vast amounts of Bitcoin, now worth billions of dollars. Satoshi Nakamoto’s disappearance from the internet in 2013 as Bitcoin’s value surged has only deepened the intrigue.

Hoback, known for his earlier work that potentially unmasked QAnon’s creator, spent years investigating various theories before focusing on Todd. The documentary examines an online post by Todd which Hoback believes was authored by Nakamoto.

In a conversation edited for brevity, Hoback explained his rationale for pursuing Nakamoto’s identity, emphasizing its relevance due to Bitcoin’s growing role in the global financial landscape. Hoback remarked, “If Bitcoin had petered out… it would be a different story. But Bitcoin is increasingly becoming a major backbone of the financial system.”

Hoback also discussed how Nakamoto’s anonymity had contributed to a mythic narrative around Bitcoin, which he believes may now hinder the cryptocurrency’s progress. “I think at this point that mythos is actually a detriment,” Hoback stated.

The documentary draws comparisons to other attempts to uncover Nakamoto’s identity, including previous journalistic endeavors that have claimed to unmask him. Despite criticisms and potential legal concerns, Hoback is steadfast in his portrayal, arguing the evidence presented speaks for itself.

Ultimately, Todd has rejected Hoback’s theory and described a post in question as a mere “coincidence.” He criticized the film’s premise that Satoshi’s identity could be easily attributed through such a tenuous link.

As the debate continues, HBO’s “Money Electric” is set to further complicate the contentious legacy of Bitcoin’s unclaimed authorship.