The Satoshi mystery: Bitcoin's anonymous creator and a $70 billion fortune
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A trial unfolding this week in the U.K. centers on the biggest open question in the cryptocurrency world: who is Bitcoin creator Satoshi Nakamoto?
Why it matters: Almost no one believes the man currently in court claiming to be Satoshi really is Bitcoin's anonymous founder. But there are some compelling theories for who Satoshi really is — and who might control the 1.1 million bitcoin in known Satoshi wallets.
- If Satoshi is alive and in control of his keys, then he has access to holdings worth around $70 billion at today's prices.
- But they've never moved. The market assumes they are lost coins.
Driving the news: Australian computer scientist Craig Wright claims to be Satoshi, and a court decision is expected within weeks as to whether he has a claim over the Bitcoin blockchain's intellectual property.
- That ruling won't prove Wright's claim, or give him access to the creator's keys.
The big picture: The question of who Satoshi is — who made this crazy money machine — will remain one of the most persistent quandaries in the technology world.
- My thought bubble: Bitcoin was not made by a "group of people," as some suspect. It was one person.
So who's who? Let's talk about some of the favorite candidates for bitcoin's creator.
Elon Musk
A former SpaceX intern has been banging this drum in reporters' inboxes for years.
- Best argument: Musk was CEO at PayPal, which means he gave a lot of thought to money on the internet.
- On the other hand: He was taking over Tesla in 2008, as Bitcoin was being conceptualized.
- Believability: Low.
John Nash
The troubled mathematician Russell Crowe portrayed in "A Beautiful Mind" was a gifted cryptographer, who died six years after the first bitcoins were mined.
- Best argument: Toward the end of his life, Nash was very interested in money.
- And also: With some head-twisting word puzzling, you can find "John Nash" in Satoshi's full name, according to this Redditor.
- Believability: Even lower.
Dorian Satoshi Nakamoto
The U.S.-based Japanese engineer was identified by Newsweek as bitcoin's inventor in 2014.
- Yes, but: He denied it, and so did Satoshi.
- Believability: Naw.
Hal Finney
A computer scientist, video game maker, cryptographer, and — by all accounts — the nicest guy, Finney has gone down in history as the first person to receive a bitcoin transaction.
- Best argument: He was there from the beginning, with the skills to do it.
- He was diagnosed with ALS shortly after Bitcoin debuted, dying in 2014, four years after Satoshi said adieu.
- Believability: High.
Nick Szabo
A cypherpunk who invented an early online payment scheme he called bit gold.
- Best argument: In his Coinbase book, "Kings of Crypto," Fortune's Jeff John Roberts says it's an open secret among long-time bitcoiners that Szabo is Satoshi.
- Plus: Experts say their writing styles match nicely. And the initials of each are switched (SN and NS). 🤯
- Yes, but: Szabo has also denied it.
- Believability: This is my bet (Occam's razor + vibes), but the evidence is circumstantial.
The latest: The Wright trial prompted Martti Malmi — the real Satoshi's first sidekick (in digital anonymity) — just released new email exchanges with Satoshi from over a decade ago.
- They offer more intrigue than clues.
The bottom line: To bitcoiners, it doesn't matter who Satoshi is. By abdicating, he fostered decentralization.
Go deeper: The Bitcoin Class of 2024
