Satoshi Nakamoto: Bitcoin creator hunt hits another dead-end

Tech billionaire and crypto enthusiast Elon Musk also denied he was behind the cryptocurrency after a former employee at one of his firms, SpaceX, suggested it.

Which brings us to the question: does it really matter?

The crypto market’s current valuation means it is worth more than Google. And it seems inconceivable that the tech giant would play such a big role in our lives without people knowing who founded it, and owned a sizeable chunk of the firm.

Perhaps there’s good reason for the real Satoshi to keep schtum though. That bitcoin stash would make them worth an estimated $69bn and their life and character would no doubt be heavily scrutinised if they were found.

Peter Todd, who was named by the HBO documentary as being Satoshi, said the unwelcome attention he’s received has made him fearful for his safety.

Many in the crypto world enjoy the fact that the mystery remains unsolved.

“No-one knows who Satoshi is and that’s a good thing,” Adam Back, one of its core developers (and another potential Satoshi candidate) posted on X recently.

Natalie Brunell, a Bitcoin podcaster, thinks Satoshi’s anonymity is not only deliberate but essential.

“By concealing his true identity, Satoshi ensured that Bitcoin wouldn’t have a leader or central figure, whose personal agenda could influence the protocol,” she told me.

“This allows people to trust Bitcoin as a system, rather than placing their trust in an individual or company.”

Carol Alexander, professor of finance at Sussex University – who lectures on the history of Bitcoin – is less sure.

In her view, the circus around who Satoshi Nakamoto is distracts from people looking into – and getting to grips with – the more serious question of how cryptocurrencies might upend the way the economy works.

As I left the Frontline Club it was hard to compute the bizarre press event, beyond one obvious fact.

For now – and perhaps forever – the search for Satoshi continues.