After days of anticipation, HBO is set to release the long-awaited documentary that explores the true identity of Bitcoin (BTC)'s mysterious founder, Satoshi Nakamoto.
While many are eager to uncover the person behind this pseudonym, one expert has warned that the documentary could lead to significant price manipulation in the Bitcoin market before its release. are.
In a recent post on It warned of potential “market manipulation”.
HBO prepares to reveal Satoshi Nakamoto's true identity
Satoshi Nakamoto's true identity has long baffled the crypto community, with various theories surfacing over the past decade.
As Bitcoinist recently reported, one of the leading candidates is Len Sassaman, a developer known for his work on remailer technology, Bitcoin's predecessor.
Proponents of this theory point to several important facts, including technical contributions, collaboration with Hal Finney, the first recipient of BTC transactions, and Sassaman's monument encoded on the blockchain. .
Many previously believed that Hal Finney was the person behind Nakamoto's pseudonym, but new evidence has come to light, prompting continued re-examination of the mystery. But Oxnobler warns that the current media efforts to reveal Nakamoto's identity may have another purpose.
Is Bitcoin manipulation related to HBO documentary?
Experts believe the documentary's release date will be due to the US Federal Reserve's recent rate cut on September 18th, the upcoming US election, and FTX's confirmed 16 billion yen to creditors affected by the 2022 financial collapse. It emphasizes that it coincides with important financial events, such as dollar payments.
According to Oxnobler, these factors, combined with possible changes to China's crypto regulations, suggest that the disclosure of Nakamoto's identity could have far-reaching implications beyond just price fluctuations. It is said that it will be done.
Experts emphasize the involvement of large institutional investors such as asset managers BlackRock, Vanguard, Fidelity, and Warner Bros., a major player in the Bitcoin exchange-traded fund (ETF) space.
According to OxNobler's analysis, these organizations have a significant impact on the market, often starting bull markets or selling at the peak of excitement, and the upcoming documentary event will likely have the same effect on the Bitcoin price. will bring.
Ultimately, OxNobler speculates that HBO could take one of two bullish approaches with the documentary. In a “moderate scenario,” the film could present multiple candidates without explicitly naming Satoshi Nakamoto's true identity.
Alternatively, experts suggest that in an “all-in scenario,” the HBO documentary could reveal the names of the aliases Nakamoto and reveal that they were long dead.
Experts believe this disclosure means that Nakamoto's large holdings will no longer be accessible to anyone and more than 5% of the total Bitcoin supply will be taken out of circulation, potentially having a bullish impact on the price. There is.
At the time of writing, BTC managed to stabilize at $62,350 after last weekend's volatility caused the market's largest cryptocurrency to retreat to $59,500.
Featured image from DALL-E, chart from TradingView.com
