CryptoQuant CEO Ki Young Ju has stated that revealing Satoshi Nakamoto’s identity could be bearish for the Bitcoin ecosystem. Specifically, he explained why it was better for the BTC founder to remain anonymous. His statement comes before the HBO documentary scheduled for release tomorrow, which will apparently reveal Satoshi’s identity.
Why Revealing Satoshi Nakamoto’s Identity Is Bearish
Ki Young Ju mentioned in an X post that revealing Satoshi’s identity could be bearish. He explained that if the Bitcoin founder is alive, that would raise concerns about the focus of wealth concentration, as Nakamoto currently holds 1.1 million bitcoins (around 9% of BTC’s total supply). The CryptoQuant CEO remarked that if he died, questions would arise about who inherited Satoshi Nakamoto’s holdings.
He added that would spark conspiracy theories and lead to discussions that stray from Bitcoin’s true purpose. Ki Young Ju noted that the Bitcoin founder mined BTC with a “unique extranonce pattern” and that his wallets are public, showing that he hasn’t sold any. In line with this, the CryptoQuant CEO stated that it is best to respect Satoshi’s privacy if market participants want to support Bitcoin.
Ki Young Ju further stated that market participants should only consider leaving the Bitcoin market if Satoshi were to move large amounts from his wallet. He added that market participants would know if that ever happened since everything is transparent and shared on the blockchain in real-time.
Until that happens, he asserted that it doesn’t matter whether the CIA has seized the Bitcoin or if a particular individual holds it. He urged everyone to respect Satoshi’s honor, considering how he has promoted privacy by creating Bitcoin.
HBO Documentary Is An Insult To Satoshi
The CryptoQuant CEO stated that the HBO documentary was an “insult” to Satoshi Nakamoto and called out the network for its plans to reveal his identity. Last week, the network claimed it would reveal the Bitcoin creator’s identity in a new documentary titled Money Electric: The Bitcoin Mystery. The documentary will go live tomorrow at 1 a.m. UTC.
Polymarket data shows a 20.3% chance that the HBO documentary will reveal Nick Szabo as Satoshi Nakamoto. Adam Back is behind, with a 9.4% chance that he is Satoshi. He is closely followed by Len Sassaman, who has a 9% chance of being revealed as the founder of Bitcoin by HBO. Until this last weekend, Sassaman was the favorite to be Satoshi.
However, his odds have dropped since his widow, Meredith Patterson, denied claims that he created Bitcoin. She also revealed that HBO didn’t contact her regarding any documentary.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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