Crypto Traders Bet $5 Million on Satoshi Nakamoto’s Identity

The crypto community is eagerly waiting for the release of an HBO documentary titled “Money Electric, The Bitcoin Mystery.” Some believe that the documentary might reveal the identity of Satoshi Nakamoto, the founder of Bitcoin.

The crypto traders are electrified, with nearly $5 million wagered on various predictions through platforms like Polymarket.

Who is Satoshi Nakamoto?

Len Sassaman, a key figure within the cypherpunk movement, emerges as a top contender. Currently, Polymarket odds suggest a 38% chance that Sassaman will be identified as Nakamoto. Crypto analyst Hitesh Malviya points to several compelling connections between Sassaman and the pseudonymous inventor.

Read more: Satoshi Nakamoto – Who is the Founder of Bitcoin?

Sassaman, whose death came just 88 days after Nakamoto’s last known communication on April 23, 2011, was a pivotal advocate for cryptography and privacy.

“Len Sassaman, a young cypherpunk, took his own life, marking the end of a brilliant mind dedicated to user privacy and open knowledge,” Malviya wrote.

His passing coincided with a period of significant mourning within the cypherpunk community, which fervently supports the principles of anonymous digital communication and currency—the very foundations of Bitcoin. Moreover, the cypherpunk community paid him homage on the Bitcoin Block 138,725, mined 27 days after Sassaman’s death.

The Bitcoin block featured art in Sassaman’s memory, cementing his legacy within the blockchain.

Furthermore, Sassaman’s connection with Hal Finney, another Satoshi candidate, adds depth to the narrative. Finney, who received the first Bitcoin transaction, collaborated closely with Sassaman on numerous cryptographic challenges. Both shared the use of British English in their writings—a notable characteristic of Nakamoto’s communications.

Additionally, an analysis of Sassaman’s Twitter activity shows a pattern that mirrors the timing of Satoshi’s code commits, suggesting synchronized late-night development sessions.

Read more: Who Owns the Most Bitcoin in 2024?

Meme Coin Speculations

With the documentary’s release imminent, the crypto community has embraced Sassaman’s legacy in novel ways. Over the past week, meme coins inspired by Sassaman and even his cats, Sasha and Odin, have proliferated across networks like Ethereum and Solana. In fact, some of the meme coins have achieved market capitalizations of over $10 million.

This flurry of activity highlights Sassaman’s profound impact on cryptography and digital privacy, bolstering his case as a potential Satoshi Nakamoto. While the documentary may or may not conclusively unveil Nakamoto’s identity, the narrative surrounding Sassaman ensures his contributions will not be overlooked.