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Who created Bitcoin? The million-dollar question is back in the spotlight — and this time with a surprising new suspect: Jack Dorsey, the bearded tech sage behind Twitter.
The new theory comes months after the HBO (WBD+2.08% documentary “Money Electric: The Bitcoin Mystery,” in which the director Cullen Hoback claimed Peter Todd, a 39-year-old Canadian software developer, to be the inventor of Bitcoin. The documentary received criticism from the viewers, and since then, Todd has gone into hiding due to security concerns.
Read more: Who really created Bitcoin? And who is Craig Wright?
As per the new theory, Dorsey might actually be Satoshi Nakamoto, the pseudonymous mastermind behind Bitcoin. This theory comes courtesy of Matthew Sigel, head of digital asset research at investment management firm VanEck, who firmly believes that the Twitter co-founder secretly created the world’s most famous cryptocurrency.
In a series of posts on X, Matthew Sigel argued that Jack Dorsey had both the motive and technical expertise to create Bitcoin. He pointed to circumstantial evidence, patterns, and intriguing timing coincidences that, in his view, link Dorsey to the cryptocurrency’s mysterious origins.
The reason why Sigel made such a bold claim is that Satoshi Nakamoto is believed to hold 1.1 million Bitcoins, which are worth approximately $103 billion at the current price. There are concerns that if Satoshi were to sell, it could trigger a massive market crash and shake investor confidence.
Sigel argues that revealing Satoshi’s true identity would benefit the crypto industry. With Bitcoin price predictions reaching new extremes, he sees transparency as a way to reduce uncertainty and speculation.
Read more: Why has Satoshi Nakamoto remained anonymous?
Bitcoin history and its connection with Dorsey’s parents
Seán Murray, president of the financial news site deBanked, has also linked Jack Dorsey to Bitcoin’s creation. In a post on X, Murray pointed out some eyebrow-raising coincidences: Bitcoin’s first-ever transaction supposedly took place on Dorsey’s mother’s birthday, while Satoshi mined their final block on Dorsey’s father’s birthday.
Adding to the intrigue, Murray highlighted a 2014 incident in which Satoshi’s “GMX” email was hacked. According to him, the hacker attempted to extort Satoshi by claiming to know about his connection to St. Louis, Missouri — the place where Dorsey was born and raised. Coincidence or cryptographic breadcrumbs? The mystery deepens.
Read more: The history of Bitcoin
What does Dorsey have to say?
So far, Jack Dorsey has remained silent on the latest speculation. However, he has previously denied being Satoshi Nakamoto. In an April 2020 interview with computer scientist and podcaster Lex Fridman, Dorsey was asked directly if he was Bitcoin’s creator. His response? “No, and if I were, would I tell you?”
Dorsey has long been a vocal advocate for Bitcoin, even introducing a Bitcoin tipping feature on Twitter in 2021. Later that year, he stepped down as Twitter’s (now X’s) CEO to focus on scaling his fintech company, Block (SQ) (formerly Square), which holds 8038 bitcoins. Coincidentally, Block’s earnings report is set to drop this Thursday.
