According to the American television network HBO, the pseudonymous Satoshi Nakamoto, who created Bitcoin, may not be a mystery for much longer.

The alleged discovery could significantly impact Bitcoin (BTC), as anonymity has played a strategic role in maintaining the cryptocurrency’s decentralized nature.

Satoshi Nakamoto Unmasked, HBO Says

In a Thursday post on X, HBO said it would premier a documentary to reveal the identity of the pseudonymous Bitcoin creator, Satoshi Nakamoto. Based on the trailer, the documentary will feature some influential personalities in the Bitcoin playing field.

Among them is Adam Back, the inventor of the blockchain hashing algorithm used in some cryptocurrency mining software. Roger Ver, who later moved on to Bitcoin Cash, also features alongside Samson Mow and Philip Karađorđević, the self-styled Prince of Serbia and renowned Bitcoiner.

Satoshi’s identity has been a mystery since Bitcoin was created in 2009 as the first truly decentralized cryptocurrency. The revelation would make public the controller of about 1.1 million Bitcoin, the biggest BTC stash in the world.

If Satoshi Nakamoto still holds the cryptographic keys to their Bitcoin fortune, their net worth would be approximately $67.5 billion, based on current prices. Data from BeInCrypto indicates that Bitcoin is trading at $61,353 at the time of writing. 

Read more: Who Owns the Most Bitcoin in 2024?

Crypto enthusiasts widely believe that Satoshi Nakamoto has no control over Bitcoin’s code, network consensus, or its operations. Despite ongoing chatter, curiosity surrounding Nakamoto’s influence is deemed largely irrelevant.

Recently, several high-value wallets from the Satoshi era became active for the first time since 2009. While these wallets are not officially tied to Nakamoto, they may belong to early collaborators.

More Satoshi Nakamoto Theories to Go Bust Soon

There have been several theories about who is Satoshi Nakamoto. Some of the most prominent speculations over the years include:

• Nick Szabo — computer scientist and cryptographer.
• Hal Finney — cryptographic pioneer and the first person to receive a Bitcoin transaction from Satoshi Nakamoto.
• Dorian Nakamoto — he denied any involvement after a discovery article in 2024.
• Craig Wright – an Australian computer scientist who claimed he is Satoshi with cryptographic evidence to support his claim.
• A Group of Individuals – there are theories that Satoshi is not a single person.

Hhowever, the UK presiding judge, Mr. Justice Mellor, stripped off one theory, determining that Craig Wright is not the pseudonymous creator of Bitcoin. The ruling came after the Crypto Open Patent Alliance (Copa), a conglomerate of cryptocurrency companies, levied charges against Wright.

Copa aimed to prevent Wright from claiming he had invented Bitcoin. Notably, the defendant was already using the speculation to expand his influence over the crypto sector.

“Wright is not the author of the Bitcoin white paper. He is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period 2008 to 2011… He is not the person who created the Bitcoin system…and he is not the author of the initial versions of the Bitcoin software,” Justice Mellor said.

With the UK court’s determination in March 2024, the search for Satoshi Nakamoto continued, and now HBO claims to have all the answers. Social media is already abuzz following the announcement, with discussions and concerns among crypto market participants.

Read more: Anonymity vs. Pseudonymity: Understanding the Key Differences.

To some, it is surprising why the supposed identity has not been leaked, with an entire series at the cusp of release. This speculation is based on the assumption that it would be nearly impossible to keep news of such magnitude airtight.

Other concerns include how the authorities could claim Satoshi Nakamoto’s complicity in crimes featuring Bitcoin use. The FBI is also said to have information about Nakamoto, which further heats up discussions on the subject.

Robert Kiyosaki, the influential author of Rich Dad Poor Dad, recently issued a stark warning to his followers about the current investment climate on X (formerly Twitter).

He characterized the current era as becoming “weird” and advised individuals to exercise caution when considering advice from ostensibly credible sources. Kiyosaki’s message is unequivocal: not all advice is beneficial, particularly in a market where eccentricity can result in investments that are misguided.

Kiyosaki: The Perils Of Misleading Advice

The cautionary tale of Kiyosaki is based on a personal anecdote concerning Iraqi dinars. He described how a woman approached a friend and recommended investing in these dinars, asserting that “Jesus told me to tell everyone that Iraqi Dinars are the safest and the finest.”

When times get wierd….the weird turn pro.

A friend was pitched an investment in Iraqi Dinars. I do not know anything about the investment potential of Iraqi Dinars.

What was WIERD was the person pitching the deal.

She said “Jesus told me to tell everyone that Iraqi…

— Robert Kiyosaki (@theRealKiyosaki) September 30, 2024

This unconventional endorsement prompted Kiyosaki to underscore the significance of evaluating the source of financial advice. In uncertain times, even well-meaning advice can lead investors astray, as he stated, “Be extra careful” about whom you attend to.

Many individuals who are currently navigating an increasingly intricate financial landscape will find his comments to be resonant. Consequently, the likelihood of succumbing to fraudulent recommendations increases as a growing number of individuals utilize social media platforms to obtain investment advice.

Kiyosaki’s cautionary tale serves as a reminder that mere assertions of divine inspiration do not necessarily imply that the advice they offer is sound.

BTCUSD trading at $61,713 on the daily chart: TradingView.com

A Change In Investment Strategy

But he still urges for a systemic change in investments, using these cautionary tales. He thinks the old 60/40 stock-to-bond formula is outdated and flawed.

He recommends that investors should invest 75% of their portfolios in gold, silver, and Bitcoin while keeping the remaining 25% in real estate and oil stocks. His motive is to make a cushion against what he believes is going to be one of the worst financial catastrophes in history with this diversification.

Robert Kiyosaki. Image: New Trader U

What is unique about Kiyosaki’s belief in Bitcoin is that he feels it will hit $1 million per coin by 2030. He wants his followers to begin stockpiling Bitcoin and accumulating precious metals now. He argues that such assets will act like a safe haven when the national currencies decline.

Preparing For Uncertain Times

Kiyosaki cautions that the future may be bleak for money as we know it. He emphasizes the potential impact of advancements in artificial intelligence on global finance. He believes that AI has the potential to significantly disrupt traditional financial systems and contribute to economic upheaval.

Kiyosaki advises against investing in bonds or storing money in anticipation of this impending turmoil. Rather, he suggests that one concentrate on tangible assets, such as genuine gold and silver coins, which could be utilized as cash during times of crisis. His perspective is indicative of the increasing sentiment among investors who are seeking stability in the face of uncertainty.

Featured image from Early Christian Texts, chart from TradingView

Bitcoin fell more than 6% early on Tuesday as a result of Iran’s missile attack on Israel, which intensified tensions in the Middle East. As soon as the market for cryptocurrencies opened up, Bitcoin dropped to its present level, a little below $61,000.

Bitcoin had already fallen from about $62,200 earlier in the day, which contributed significantly to a phenomenon: volatility that sparked dissatisfaction around the world. Fearing what this war might bring, investors rushed away from the riskier assets like Bitcoin and sought traditional safe havens in gold.

How The Market Responds To Political Unrest

Military strife wasn’t the only thing that happened during the missile strikes; they also shook the financial markets. As tensions rose, the US government revealed that President Joe Biden had ordered military aid for Israel.

Investors are now even more worried about the effects of this intervention on global security and the possibility of a worsening of the situation. As news feeds were filled with stories of missile launches, Bitcoin’s value dropped by about $3,800 in just a few hours. It fell for a short time to around $60,200, but later in the day it slowly climbed to around $61,500.

BTCUSD trading at $61,217 on the daily chart: TradingView.com

It was a bearish October, also the so-called “Uptober” for its historical gains in the past, and this is what the traders were hoping for, but chaos dashed that dream. Big liquidations on huge cryptocurrencies made the selloff even worse.

Positions in Bitcoin and Ethereum alone lost over $481 million. In the past, geopolitical situations have caused sharp drops in crypto values, which shows how sensitive Bitcoin is to events happening around the world.

Gold Unfazed, Crypto Takes A Beating

Curiously, as Bitcoin was losing out, gold prices surged 1.2% to touch near record-highs as uncertainty-fearing investors sought safety. In reality, this is not a new pattern that one has seen before. People have seen this pattern in the Russia-Ukraine tensions and the brewing tensions between the US and China.

Traditionally, Bitcoins have rallied well after initial declines on global tumult. But there are still traders who want to hedge the price and rush to decrease their investments, causing the price to go down.

The way things are now makes many wonder where Bitcoin and other cryptocurrencies will go in the future. Analysts believe Bitcoin might test the $60,000 support – or lower – if things worsen.

Featured image from The Times of Israel, chart from TradingView