The mystery of Bitcoin's founder from the Durian Nakamoto theory

The identity of Bitcoin’s creator, Satoshi Nakamoto, remains one of the greatest mysteries in the digital asset era. Millions of people are interested in uncovering the true identity of this enigmatic creator, and numerous theories and suspicions have been proposed. Among them, the 2014 “Dorian Nakamoto theory” became a major topic—could it hold the key to solving this mystery?

The Birth of Bitcoin: The Mysterious Founder Satoshi Nakamoto

On January 3, 2009, Satoshi Nakamoto mined the first block of Bitcoin, known as the “genesis block.” From that moment, an innovative experiment in decentralized digital currency began, aiming to disrupt established banking systems and restore financial authority to individuals.

A few months prior, Nakamoto published a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” introducing the concept of a cryptographically secure, decentralized payment network to the world. This idea emerged against the backdrop of the 2008 financial crisis, which exposed vulnerabilities in centralized financial institutions and increased demand for a new financial system.

However, even after more than 15 years since Bitcoin’s inception, the true identity of its creator remains a mystery. Multiple candidates have emerged, each with compelling claims, but no definitive proof has yet been presented.

The Shock of the Dorian Nakamoto Theory: Newsweek’s 2014 Report

In 2014, a report sent shockwaves through the Bitcoin community. Newsweek journalist Leah McGrath Goodman identified Dorian Nakamoto, a retired systems engineer living in California, as a leading candidate for Bitcoin’s founder.

Goodman’s investigation pointed out several similarities between Dorian Nakamoto and Satoshi Nakamoto. Both were noted for their high mathematical ability, deep knowledge of cryptography, and personal traits such as distrust of authorities. This report garnered worldwide attention, and the hypothesis that “Dorian Nakamoto = Satoshi Nakamoto” became a mainstream discussion in the crypto community for a time.

However, this theory did not last long. Dorian himself strongly denied involvement, and Satoshi Nakamoto appeared on internet forums to explicitly refute any connection. As a result, the Dorian Nakamoto theory gradually lost its prominence as a credible hypothesis.

Other Prominent Candidates and Investigations

Even after the decline of the Dorian Nakamoto theory, debates about Satoshi Nakamoto’s identity continued, with several other candidates proposed.

Craig Wright’s Claim

Australian computer scientist Craig Wright publicly claimed in 2016 that he is Satoshi Nakamoto. His assertion was supported by leaked Wired magazine articles suggesting his involvement in Bitcoin’s invention. However, detailed investigations by experts revealed multiple inconsistencies, such as manipulated timestamps on blog posts and cryptographic key discrepancies. Wright faced severe criticism from the crypto community and ultimately retracted his claim.

Nick Szabo’s Connection

Cryptographer Nick Szabo had proposed a digital currency concept called “Bit Gold” before Bitcoin’s emergence. The similarities between this concept and Bitcoin are striking, leading many researchers to suggest a link between Szabo and Satoshi. Szabo’s technical skills and Nakamoto’s achievements show clear parallels, but Szabo has repeatedly denied any involvement.

Hal Finney’s Possibility

Renowned computer scientist and early Bitcoin supporter Hal Finney was also suspected at one point. Finney was the first person to receive a Bitcoin transaction from Satoshi, and stylistic similarities in writing prompted further speculation. However, Finney denied these allegations and provided records of email exchanges and Bitcoin transactions to prove he was not the mysterious creator.

HBO Documentary and the Ongoing Mystery

The new HBO documentary “Money Electric: The Bitcoin Mystery” has garnered high expectations among Bitcoin enthusiasts. It was anticipated to present new evidence regarding Satoshi Nakamoto’s identity.

According to promotional materials, the documentary is certain to offer a compelling case about Nakamoto’s identity, but whether it will provide conclusive proof remains uncertain.

Meanwhile, the Bitcoin market continues to grow rapidly. As of February 2026, the price of BTC has reached $72,410, with a circulating market cap of $144.698 billion. The value of Bitcoin assets believed to be controlled by Satoshi Nakamoto has grown even more enormous alongside this market expansion.

Why Is the Identity of Nakamoto Important?

The ongoing pursuit of Satoshi Nakamoto’s identity is not just about solving the mystery of the Bitcoin creator. It is deeply connected to understanding the significance of one of the most revolutionary financial technologies of our time.

What was once a niche digital experiment has now grown into a trillion-dollar asset. Major financial players like BlackRock and prominent investors such as Tesla CEO Elon Musk are paying attention.

However, whether the creator is an individual or a group, they have chosen to remain anonymous. This anonymity allows the platform’s decentralized nature to persist without influence from a single person or entity. This structural choice is what makes Bitcoin truly revolutionary.

At the same time, attempting to identify Satoshi Nakamoto carries potential risks. If early wallets associated with Nakamoto start moving, it could cause serious market instability. Additionally, revealing Nakamoto’s identity could undermine investor confidence or attract regulatory scrutiny.

The Continuation of the Dorian Nakamoto Theory and the Legend of the Mystery

The series of hypotheses and suspicions starting with the Dorian Nakamoto theory reflect the high level of interest in Satoshi Nakamoto’s identity. Whether through HBO’s new documentary or the decoding of old records, the likelihood of fully resolving this mystery remains low.

Instead, each new documentary release is likely to generate fresh hypotheses and debates. However, it is also quite possible that Nakamoto’s identity will remain forever a mystery.

The bold attempt to decentralize finance and return power to the people, symbolized by Bitcoin, is further reinforced by the legend surrounding Satoshi Nakamoto. Amid various speculations, the truth—whatever it may be—will continue to captivate people and influence discussions about Bitcoin’s origins and technological evolution for generations to come.