A new HBO documentary, “Electric Money: The Bitcoin Mystery,” by Cullen Hoback, aired on Oct. 8. It suggests that Peter Todd, a 39-year-old software developer, might be Satoshi Nakamoto, the mysterious creator of Bitcoin.
However, the documentary’s evidence is largely circumstantial, focusing on Todd’s early involvement with Bitcoin and his connections to other key figures, such as cryptographer Adam Back.
Key pieces of evidence include a 2010 forum post in which Todd seemingly continues Nakamoto’s thoughts and a chat transcript in which Todd discusses “sacrificing” Bitcoins.
The filmmaker interprets it as potentially referring to Satoshi’s untouched BTC stash, which is over a million coins worth around $65 billion.
Todd: I’m Not Satoshi
BitMEX Research said, “This is clearly ridiculous,” and it is just an example of Todd replying to Satoshi with a “snarky, pedantic, and accurate comment.”
“This is the kind of comment Peter could make today. There is zero reason to believe this was Satoshi.”
According to Forbes, HBO will say that @peterktodd is Satoshi…
The Forbes article states that “a 2010 BitcoinTalk post replying to Satoshi Nakamoto that [Cullen] Hoback believes was accidentally posted using Todd’s profile”
This is clearly ridiculous! It is just an example of… pic.twitter.com/mjFnHn7Zak
— BitMEX Research (@BitMEXResearch) October 8, 2024
Todd isn’t widely known in crypto circles but does maintain a presence on X, where he has 167,000 followers. He has a controversial online persona and connections to Ukraine, posting this on Oct. 9 after mainstream media picked up the story.
“I have some personal connections to Ukraine, and I’ve been there multiple times during the full-scale invasion […] giving talks to the Ukrainian Bitcoin community.”
According to a CNN interview with the documentary’s director, Cullen Hoback, Peter Todd explicitly denied being Satoshi Nakamoto, calling the film “irresponsible” and claiming it puts his life in danger.
Todd stated that HBO did not approach him before the film’s release and did not offer him a chance to screen it, but Hoback remains confident in his conclusion despite the denial.
“Cullen is grasping for straws here,” Todd told CNN before adding, “He is playing up a few coincidences into something much more. Ironic, really: that’s a hallmark of conspiracy thinking.”
Plot twist: it was signed by Adam Back pretending to be me pretending to be him. https://t.co/ebeQRGOJiA
— Peter Todd (@peterktodd) October 7, 2024
So Who Is He?
Todd is a 39-year-old graduate of Ontario College of Art and Design in Toronto, and he would have been 23 when the Bitcoin white paper was being completed.
He claims to have started communicating with key crypto influencers and cypherpunks when he was about 15.
Castle Island Ventures partner Nic Carter who has known Todd since 2017, said “He is one of the most important Bitcoiners, from a technical perspective,” but doesn’t believe he is Satoshi.
Bitcoiner Jameson Lopp was also skeptical about the claim.
Wherever Satoshi may be, I like to think they’re having a laugh at this latest round of foolishness.
— Jameson Lopp (@lopp) October 8, 2024
There was no reaction on Bitcoin markets, with the asset doing the same thing in its range-bound channel and changing hands for $62,260 at the time of writing.