Peter Todd denies being Bitcoin creator Satoshi Nakamoto, says the rumours are 'ludicrous'

The true identity of Bitcoin’s mysterious creator, Satoshi Nakamoto, has been one of the most gripping mysteries in the world of cryptocurrency. A new HBO documentary, Money Electric: The Bitcoin Mystery, has stirred up fresh speculation, suggesting that Canadian software developer Peter Todd might be the person behind the pseudonym. However, Todd has firmly denied these claims, dismissing the speculation as “ludicrous.”

The documentary, created by filmmaker Cullen Hoback, draws on circumstantial evidence from Bitcoin forums and other sources to build its case. Hoback even confronts Todd in the documentary, presenting his theory directly. Todd, however, dismissed the idea as “ludicrous,” laughing off the suggestion that he is Satoshi Nakamoto. “This is going to be very funny when people watch this,” Todd remarked in the documentary.

Hoback’s theory revolves around Todd’s involvement with Bitcoin in its early days. He began working on the cryptocurrency in 2010, two years after the Bitcoin whitepaper was published under the name Satoshi Nakamoto. According to the documentary, Todd’s involvement in various cryptographic projects and his deep knowledge of Bitcoin’s mechanics make him a strong candidate. One piece of evidence Hoback points to is a forum post from Todd in which he joked about being an expert in “sacrificing” bitcoins. Hoback interprets this as a clue, suggesting that Todd may have destroyed access to the estimated 1.1 million bitcoins associated with Satoshi’s wallets—worth billions today.

In response to these allegations, Todd strongly refuted the claims, telling CoinDesk that Hoback is “grasping at straws” . He also told CNN,“For the record, I’m not Satoshi." The CNN report also added that Todd claimed that he wasn’t contacted by HBO before the film’s release or given an opportunity to view it ahead of its airing on Tuesday. “He’s (Hoback) exaggerating a few coincidences into something far bigger. It’s ironic, really—that’s the essence of conspiracy thinking," he said as per the report.

On the other hand, Hoback said that he is not surprised at Todd’s denial, standing by the documentary’s conclusion with confidence.

He told CNN, “Peter was there that day (in which he was interviewed for the film). He knows what was discussed. He had every opportunity to explain himself."

This isn’t the first time someone has been speculated to be Nakamoto. Over the years, several people have been suggested as the possible creators. According to Bloomberg, candidates like Australian Craig Wright, who declared himself Satoshi, and physicist Dorian Nakamoto, named by Newsweek, have been similarly discredited after making headlines .

Regardless of Todd’s denial, the documentary has reignited interest in the long-running mystery of Nakamoto’s identity. The potential implications of discovering the true creator of Bitcoin are huge, especially as Nakamoto’s wallets reportedly hold over 1 million bitcoins—worth approximately $62 billion today. Even the smallest movement of these funds could shake the cryptocurrency market.

For now, despite renewed speculation, Satoshi Nakamoto’s true identity remains hidden, leaving both the Bitcoin community and the public at large to continue their search for the enigmatic figure behind the world’s largest cryptocurrency.