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.

The cryptocurrency market is preparing for short-term volatility, with approximately $1.4 billion worth of Bitcoin and Ethereum options expiring today.

With Bitcoin options totaling $1.066 billion in notional value and Ethereum options accounting for $284.99 million, traders are eyeing the expiration for its potential impact on prices.

Analysts Predict A Market Shakeout Amid Expiring Options

Data on Deribit shows 17,448 Bitcoin options contracts will expire on October 4. The contracts have a put-to-call ratio of 0.75 and a maximum pain point of $63,000.

At the same time, Ethereum’s options market is set to expire with 119,599 contracts. Today’s expiring Ethereum contracts have a put-to-call ratio of 0.68, with a maximum pain point of $2,500.

Read more: An Introduction to Crypto Options Trading

n options trading, the put-to-call ratio serves as a key sentiment indicator by comparing the volume of put options traded to call options. A put-to-call ratio of 0.75 for Bitcoin suggests that more call options are being traded, indicating bullish market sentiment. Similarly, Ethereum’s put-to-call ratio of 0.68 also points to optimism, as more calls than puts are being exchanged.

For those unfamiliar with the concept, a put-to-call ratio below 1 generally signals bullish sentiment, as more investors expect market gains. In contrast, a ratio above 1 often reflects bearish sentiment, signaling concerns about a market decline.

Price Implication Based on BTC and ETH Maximum Pain Points

The current market prices for Bitcoin and Ethereum are below their respective maximum pain points. BTC is trading at $61,209 and ETH at $2,381. This suggests that if the options were to expire at these levels, it would generally signify gains for options holders.

The outcome for options traders can vary significantly depending on the specific strike prices and positions they hold. To accurately assess potential gains or losses at expiration, traders must consider their entire options position, along with current market conditions.

Analysts at Greeks.live suggest that additional market factors could emerge, influencing overall trends and affecting trader decisions. Therefore, comprehensive evaluation is essential before drawing conclusions on options trades.

“Friday’s unemployment rate and non-farm payrolls data, and now the windy A-share market compared to the US stock market is much less favorable. However, the cryptocurrency market is more connected to US stocks, and the only connection between A-shares and crypto might be that many people are out of gold speculating in stocks, knocking down the price of u fiat currency,” they wrote.

The analysts also say crypto markets are entering a shakeout before what has historically been a bullish month. A shakeout is when the otherwise “weak hands” are triggered to sell based on scary market conditions. Geopolitical tensions could aggravate the sell-off, which continues to escalate.

“Today is going to be a big day. Very important job data is coming in the next 7 hours, which will impact the US stock market heavily. We can get a super pump or heavy dump. Israel planning to launch a counterattack on Iran today. Bitcoin needs to hold $60,000 for a bounce but if $60,000 breaks we can see a quick dump to $56,000-$57,000. The best strategy is to hold your positions and not be shaken out,” analyst Ash Crypto advised.

Meanwhile, crypto markets remain subtly optimistic amid bullish US economic data. The Federal Reserve’s decision to cut interest rates amid cooling inflation inspires optimism for riskier assets. Economists expect more rate cuts in 2024, but this remains to be seen. This is as the Fed continues to exercise its dual mandate- to achieve maximum employment and keep prices stable.

Read more: 9 Best Crypto Options Trading Platforms. 

Traders are therefore advised to remain cautious, as historically, options expiration often leads to short-term instability in the market. The weekend will also be crucial as it is often characterized by high volatility.  

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