Adam Back Refutes Claims of Being Satoshi Nakamoto in Recent Disclosure
During a discussion on the X social media platform (formerly known as Twitter), Adam Back, the founder of BlockStream and a prominent cypherpunk, has once again rejected any associations with the mysterious figure behind Bitcoin, Satoshi Nakamoto.
Backing up his stance, Back outlined a number of reasons that have led some individuals to mistakenly link him with the creation of Bitcoin.
This recent statement by Back comes following the release of email exchanges between him and Satoshi on Twitter, reinforcing the fact that the identities of Back and Satoshi Nakamoto are indeed distinct.
“Negative on Satoshi”
In light of Bitcoin’s impressive 12% price surge overnight, Back shared an image depicting a Pepe the Frog donning a samurai attire, slicing a bear with a large green candle substituting for a katana. The leading cryptocurrency soared by 12.21% from $51,200 to surpass the $57,400 mark, trading at $57,021 at the time of writing.
Despite receiving comments referencing him as Satoshi, Back reiterated that he is not the elusive figure. Nonetheless, he acknowledged that the “most compelling reasons” fueling such misconceptions often stem from his vocal critiques of altcoin scams and discussions around Bitcoin’s market performance.
Recent reports highlighted an email correspondence between Back and Satoshi predating the inception of Bitcoin. These emails, formally submitted as evidence in an ongoing legal dispute between COPA and self-proclaimed Satoshi Craig Wright, reveal discussions about Bitcoin that took place several months before its historic launch. Back, as both the founder and CEO of BlockStream, presented these emails to the court.
Within these correspondences, Satoshi expressed intent to reference Back’s “Hashcash” paper in the Bitcoin whitepaper. Additionally, Back suggested that Satoshi explore other documents proposing electronic cash systems, such as Wei Dai’s “B-money” and “Micromint.”
Bitcoin Surpasses $57,000 Fueled by Institutional Interest
Ahead of Bitcoin’s notable 12.21% price surge, MicroStrategy revealed yet another substantial Bitcoin purchase, acquiring approximately 3,000 BTC valued at around $155 million. Concurrently, Bitcoin exchange-traded funds (ETFs) are accumulating significant amounts of the digital asset, exceeding the daily output of miners by 12-fold.
The Security and Exchange Commission, led by Chairman Gary Gensler, approved eleven spot-based Bitcoin ETFs for trading on January 11, with notable companies like BlackRock, Ark Invest, VanEck, Bitwise, and Fidelity among the list of approved entities.