After days of anticipation, HBO is about to launch its extremely awaited documentary exploring the true id of Satoshi Nakamoto, the enigmatic creator of Bitcoin (BTC).
Whereas many are desirous to uncover the person behind this pseudonym, one skilled warns that the documentary might result in important value manipulation within the Bitcoin market earlier than its launch.
In a latest submit on X (previously Twitter), market analyst OxNobler cautioned that whereas the main focus could also be on Nakamoto’s id, the actual problem lies within the potential “market manipulation” allegedly orchestrated by HBO’s father or mother firm, Warner Bros.
HBO Prepares To Unveil Satoshi Nakamoto’s Identification
The id of Satoshi Nakamoto has lengthy puzzled the cryptocurrency neighborhood, with varied theories rising over the previous decade.
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As just lately reported by Bitcoinist, one distinguished candidate is Len Sassaman, a developer identified for his work on remailer expertise, a precursor to Bitcoin.
Proponents of this concept level to a number of key details, akin to technical contributions, collaboration with Hal Finney, the primary recipient of a BTC transaction, and a memorial to Sassaman encoded within the blockchain.
Whereas many beforehand believed that Hal Finney was the person behind the Nakamoto pseudonym, new proof has surfaced, prompting an ongoing re-examination of the thriller. Nonetheless, OxNobler warns that the present media push to disclose Nakamoto’s id might have one other function.
Bitcoin Manipulation Linked To HBO’s Documentary?
The skilled highlights the documentary’s launch date, which coincides with key monetary occasions, together with the US Federal Reserve’s latest rate of interest minimize on September 18, the upcoming US elections and the confirmed $16 billion payout by FTX to collectors affected by its collapse in 2022.
These components, mixed with potential adjustments to China’s cryptocurrency laws, counsel that the revelation of Nakamoto’s id might have far-reaching implications past mere value fluctuations, in line with OxNobler.
The skilled emphasizes the involvement of enormous institutional traders akin to asset managers BlackRock, Vanguard and Constancy, main gamers within the Bitcoin exchange-traded fund (ETF) area and Warner Bros.
In accordance with OxNobler’s evaluation, these entities considerably influence the market, typically initiating bull runs or promoting off on the peak of pleasure, with the upcoming documentary occasion maybe having the identical outcomes for the Bitcoin value.
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In the end, OxNobler speculates that HBO might undertake certainly one of two bullish approaches within the documentary. In a “reasonable situation,” the movie might current a number of candidates as attainable identities for Satoshi Nakamoto with out definitively naming one.
Alternatively, in an “all-in situation,” the skilled means that the HBO documentary would possibly explicitly title the person behind the Nakamoto alias and reveal that they handed away way back.
The skilled believes this revelation would imply that nobody would have entry to Nakamoto’s substantial holdings, doubtlessly eradicating over 5% of the whole Bitcoin provide from circulation and having a bullish impact on costs.
On the time of writing, BTC has managed to consolidate at $62,350 after the volatility on the finish of final week noticed the most important cryptocurrency available on the market retreat to $59,500.
Featured picture from DALL-E, chart from TradingView.com
