The cryptocurrency community was abuzz when clips from HBO’s documentary Money Electric: The Bitcoin Mystery leaked just hours before its official release. The footage appeared to suggest that former Bitcoin developer Peter Todd might be the elusive creator of Bitcoin, Satoshi Nakamoto. However, Todd quickly dismissed the claim as outlandish and unfounded.
Denial from Peter Todd
In an email to CoinDesk, Peter Todd directly refuted the documentary’s implications, expressing disbelief at the film’s attempt to associate him with the creation of Bitcoin. Directed by Cullen Hoback, who previously made headlines for unmasking the figure behind the QAnon conspiracy theory, the film seemingly points to Todd as Satoshi based on circumstantial evidence.
Todd, however, is unconvinced by Hoback’s approach, calling it “grasping at straws.” He acknowledged that his interview with Hoback did occur and that certain footage in the film is legitimate, but firmly maintained, “Of course, I’m not Satoshi.”
Todd humorously pointed out the irony of Hoback, known for his QAnon documentary, resorting to “coincidence-based conspiracy thinking” in this new film. Even in the leaked clips circulating online, Todd laughed off the theory, calling it “ludicrous.”
Polymarket Bets and Early Speculation
Hours before the documentary’s release, New Yorkers were placing their bets on Polymarket, trying to guess who the film would identify as Satoshi. Interestingly, Todd wasn’t even a named candidate on the list. The odds overwhelmingly favored “Other/Multiple,” further emphasizing the community’s skepticism about Hoback’s theory.
Previously, other figures like Len Sassaman and Nick Szabo were the top contenders in speculative lists, with Todd never being a prominent suspect. This added to the incredulity surrounding the documentary’s hypothesis.
Circumstantial Evidence but No Smoking Gun
The 100-minute documentary delves into Bitcoin’s origins and other crypto projects, but it does not provide any concrete evidence tying Todd to the identity of Satoshi Nakamoto. Instead, it pieces together circumstantial evidence: Todd’s early involvement in cryptography, his association with Adam Back (who communicated with Satoshi), and the fact that Todd is Canadian, matching some of the linguistic nuances found in Satoshi’s writings.
Perhaps the film’s boldest claim is that a public forum post made by Todd in 2010 was a continuation of a previous post by Satoshi. Hoback suggests that Todd mistakenly posted under his own name rather than Satoshi’s. Todd dismissed this as speculative at best, with no definitive proof linking him to Satoshi.
The Final Confrontation
The film’s most dramatic moment comes when Hoback directly confronts Todd, laying out his theory of Todd’s secret role in Bitcoin’s invention. Todd, visibly amused, shakes his head and quips, “Of course I’m Satoshi. And I’m Craig Wright,” sarcastically referencing another individual who has falsely claimed to be Satoshi in the past.
While the confrontation was meant to be serious, Todd’s laughter and witty retorts undermined any sense of real revelation. His response seemed to resonate with the audience at a New York bitcoin bar, where viewers reportedly laughed at the suggestion that Todd could be Satoshi.
No Resolution, More Speculation
Ultimately, the documentary did not conclude with any definitive proof that Peter Todd is Satoshi Nakamoto. Like previous media attempts to unmask the cryptocurrency’s creator, Money Electric leaves the mystery unsolved. Todd joins a growing list of individuals wrongly implicated in the hunt for Satoshi, alongside others like Dorian Nakamoto and Craig Wright.
For now, the true identity of Bitcoin’s creator remains elusive, with Todd and many others dismissing these speculative claims as just another chapter in the ongoing Bitcoin saga.
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