The HBO documentary "Money Electric: The Bitcoin Mystery" has stirred controversy by suggesting that Peter Todd, an early Bitcoin developer, is the true identity behind Bitcoin’s pseudonymous creator, Satoshi Nakamoto. Directed by Cullen Hoback, the nearly two-hour documentary aired on HBO on October 10 and presents a series of interviews and clues that ultimately point to Todd as the mysterious figure who invented Bitcoin.

The film, marketed as a "globe-trotting investigation" into one of the internet’s biggest mysteries, follows Hoback as he examines the elusive identity of Nakamoto. Toward the end of the documentary, Todd is portrayed as playing with the idea of being Nakamoto, even saying at one point that he is Nakamoto, but later contradicting the statement.

Shortly after the documentary's release, Todd took to social media to deny the claims, stating that he is not Satoshi. On X (formerly Twitter), Todd wrote, "No, I’m not Satoshi. Let’s get that clear." His denial follows widespread skepticism in the Bitcoin community about the film’s conclusions.

The speculation around Nakamoto’s identity has persisted since Bitcoin’s inception in 2008 when the Bitcoin white paper was first released. Nakamoto vanished in 2010, leaving behind an estimated 1.1 million Bitcoins, which are now worth roughly $68 billion. Despite multiple theories, no one has definitively proven Nakamoto's true identity.

The documentary’s creator, Cullen Hoback, is no stranger to controversial investigations, having directed the HBO docu-series "Q: Into the Storm" about QAnon. Hoback predicted that the reveal in "Money Electric" would generate significant debate. In a pre-release interview, Hoback said, "People are going to debate it regardless of how strong of a case we made, and that’s fine. That’s the nature of this space.”

The response online was swift, with many in the Bitcoin community criticizing the documentary’s approach and conclusions. Some dismissed the suggestion that Todd is Nakamoto as lacking substantial evidence, while others saw it as a provocative attempt to stir controversy without solid proof.

While the mystery of Nakamoto’s identity remains unsolved, the documentary's claim has reignited discussions around who may have created Bitcoin. Todd’s denial and the ongoing debate demonstrate the enduring fascination with the figure of Satoshi Nakamoto and the significance of Bitcoin.

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