HBO documentary "Money Electric" speculates on Satoshi Nakamoto's identity without evidence, causing community doubts

HBO’s latest documentary Money Electric premiered on Tuesday, examining the origins of Bitcoin and exploring the ongoing mystery surrounding the identity of its creator, Satoshi Nakamoto.

Directed by Cullen Hoback, the documentary introduces figures involved in Bitcoin’s early development, such as Adam Back, CEO of Blockstream. Hoback’s investigation largely centres on Peter Todd, a Bitcoin Core developer, suggesting Todd could be Nakamoto based on a series of clues.

Circumstantial Evidence and Speculation

The film highlights Todd's interactions on early Bitcoin forums, particularly one post where Todd allegedly continues a thought started by Satoshi. Hoback interprets this as Todd possibly being the same individual behind both pseudonyms. Further evidence includes Todd’s teenage attempts to create a currency from the earlier Hashcash project and the reportedly amateur-level C++ code associated with Bitcoin's protocol.

Hoback proposes that Satoshi’s pseudonym might have been chosen to lend credibility to the new digital currency.

However, much like previous efforts to unmask Satoshi, Money Electric provides no definitive evidence. Critics have dismissed the film’s conclusions as speculative, and many argue that the theory rests on weak assumptions.

Samson Mow, CEO of Bitcoin technology company JAN3 and former Blockstream chief strategy officer, who features in the documentary, expressed scepticism. He stated, “Cullen probably has a case for it… but it’s probably not Peter.” This sentiment echoes Todd’s own statement on social media, where he responded to speculation by clearly stating, “I’m not Satoshi.”

Echoes of Past Investigations

Like other documentaries exploring the Nakamoto mystery, Money Electric revisits familiar names, including Hal Finney, the late cryptographer and early Bitcoin adopter who played a significant role in Bitcoin’s development.

While Money Electric boasts strong production and engaging interviews, it has drawn criticism for leaning too heavily on circumstantial evidence. The documentary's approach has been likened to the notorious Newsweek article from 2014, which wrongly identified another man as Bitcoin’s creator.

Related reading：Satoshi Nakamoto is dead? HBO's latest documentary "Bitcoin Mystery" sparks speculation about the true identity of Satoshi Nakamoto in the polymarket

Documentary fails to have an impact on Bitcoin price

Upon its release, the documentary failed to stir significant reaction from the crypto community, which has become increasingly sceptical of such claims. Previous attempts to reveal Nakamoto’s identity have caused market fluctuations, but Bitcoin’s price remained steady at $62,200, according to CoinGecko data.

The identity of Bitcoin's creator remains one of modern finance’s great mysteries, and Money Electric ultimately adds little to the conversation.

Despite Hoback’s efforts, the documentary appears to follow the familiar path of speculative investigations without delivering conclusive proof. The search for Satoshi Nakamoto continues, but as Samson Mow noted, “It doesn’t matter who Satoshi is at this point. Bitcoin has grown past the need for a creator.”