After days of anticipation, HBO will release its long-awaited documentary exploring the true identity of Satoshi Nakamotothe enigmatic creator of Bitcoin (BTC).
While many are eager to uncover the individual behind this pseudonym, one expert warns that the documentary could lead to major price manipulation in the Bitcoin market before its release.
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HBO prepares to reveal the identity of Satoshi Nakamoto
The identity of Satoshi Nakamoto has long baffled the cryptocurrency community, and several theories have emerged over the past decade.
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Like recently reported According to Bitcoinist, a leading candidate is Len Sassaman, a developer known for his work on remailer technology, a precursor to Bitcoin.
Proponents of this theory point to several key facts, such as technical contributions, collaboration with Hal Finney, the first recipient of a BTC transaction, and a monument to Sassaman encoded in the block chain.
While many previously believed that Hal Finney was the man behind the Nakamoto pseudonym, new evidence has emerged that has prompted continued re-examination of the mystery. However, OxNobler warns that the current media pressure to reveal Nakamoto’s identity may have another purpose.
Bitcoin Manipulation Linked to HBO Documentary?
The expert highlights the documentary’s release date, which coincides with key financial events, including the recent interest rate cut by the US Federal Reserve on September 18, the upcoming US elections and the confirmed Payment of $16 billion by FTX to creditors affected by its collapse in 2022.
These factors, combined with possible changes to China’s cryptocurrency regulations, suggest that the revelation of Nakamoto’s identity could have far-reaching implications beyond mere price fluctuations, according to OxNobler.
The expert highlights the involvement of large institutional investors such as asset managers BlackRock, Vanguard and Fidelity, major players in Bitcoin. exchange traded fund (ETF) space and Warner Bros.
According to OxNobler’s analysis, these entities have a significant impact on the market, often initiating bull runs or selling at the peak of enthusiasm, and the next documentary event perhaps will have the same results for the price of Bitcoin.
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Ultimately, OxNobler speculates that HBO could take one of two bullish approaches to the documentary. In a “moderate scenario,” the film could present several candidates as possible Satoshi Nakamoto identities without definitively naming any of them.
Alternatively, in a “total scenario,” the expert suggests that the HBO documentary could explicitly name the individual behind Nakamoto’s alias and reveal that he is long deceased.
The expert believes that this revelation would mean that no one would have access to Nakamoto’s significant holdings, which could wipe out more than 5% of the total Bitcoin. supply of circulation and having an upward effect on prices.
At the time of writing, BTC has managed to consolidate at $62,350 after volatility at the end of last week caused the market’s largest cryptocurrency to retreat to $59,500.
Featured image of DALL-E, chart from TradingView.com
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