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After days of anticipation, HBO is ready to launch its extremely awaited documentary exploring the true identification of Satoshi Nakamoto, the enigmatic creator of Bitcoin (BTC).
Whereas many are wanting to uncover the person behind this pseudonym, one professional warns that the documentary might result in important worth manipulation within the Bitcoin market earlier than its launch.
In a latest publish on X (previously Twitter), market analyst OxNobler cautioned that whereas the main focus could also be on Nakamoto’s identification, the true difficulty lies within the potential “market manipulation” allegedly orchestrated by HBO’s guardian firm, Warner Bros.
HBO Prepares To Unveil Satoshi Nakamoto’s Id
The identification of Satoshi Nakamoto has lengthy puzzled the cryptocurrency neighborhood, with numerous 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 know-how, a precursor to Bitcoin.
Proponents of this principle level to a number of key information, reminiscent of 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. Nevertheless, OxNobler warns that the present media push to disclose Nakamoto’s identification might have one other function.
Bitcoin Manipulation Linked To HBO’s Documentary?
The professional highlights the documentary’s launch date, which coincides with key monetary occasions, together with the US Federal Reserve’s latest rate of interest reduce 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 modifications to China’s cryptocurrency laws, recommend that the revelation of Nakamoto’s identification might have far-reaching implications past mere worth fluctuations, in keeping with OxNobler.
The professional emphasizes the involvement of huge institutional buyers reminiscent of asset managers BlackRock, Vanguard and Constancy, main gamers within the Bitcoin exchange-traded fund (ETF) house and Warner Bros.
In response to OxNobler’s evaluation, these entities considerably affect 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 worth.
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Finally, OxNobler speculates that HBO might undertake considered one of two bullish approaches within the documentary. In a “reasonable state of affairs,” the movie might current a number of candidates as attainable identities for Satoshi Nakamoto with out definitively naming one.
Alternatively, in an “all-in state of affairs,” the professional means that the HBO documentary would possibly explicitly identify the person behind the Nakamoto alias and reveal that they handed away way back.
The professional believes this revelation would imply that nobody would have entry to Nakamoto’s substantial holdings, probably eradicating over 5% of the full 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
