The highly anticipated HBO documentary, which has piqued the interest of the cryptocurrency community since its trailer drop, aired Tuesday night and named Peter Todd as Bitcoin BTC/USD creator Satoshi Nakamoto.
What happened: The documentary covered Bitcoin’s roots and introduced various figures from the early days of its development, eventually locking in on the Bitcoin core developer.
In anticipation of the reveal, meme coins referencing the cryptocurrency’s purported inventors gained popularity, several of which tanked after Todd was identified as Satoshi.
Coins inspired by late computer scientist Len Sassaman, who was briefly cryptocurrency bettors' favorite, nosedived, with LEN dropping as much as 85%, and SASHA, referencing Sassaman's cat plunging 61%, according to CoinMarketCap.
Memecoin linked to Blockstream CEO Adam Back, who was featured in the documentary, sank over 96%. Similarly, SZABO, inspired by Nick Szabo, whom tech mogul Elon Musk had once alluded to being Satoshi, tumbled nearly 90%.
| Cryptocurrency | Losses (Recorded at 2:15 a.m. EDT) |
| Adam Back (ADAM) | 96.80% |
| SZABO | 89.74% |
| Len Sassaman (Ethereum) (LEN) | 85.57% |
| SASHA CAT (SASHA) | 61.29% |
Expectedly, a meme coin tied to Todd, PeterTodd, exploded by 1591% on the reveal.
Why It Matters: Satoshi Nakamoto is the pseudonym for whoever wrote the Bitcoin whitepaper and is credited with developing the first-ever cryptocurrency project.
Several persons have claimed or were believed to be Satoshi, but their genuine identity is yet to be confirmed.
Even in the latest development, Todd has categorically denied being Satoshi.
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,417.25, barely changed in the last 24 hours, according to data from Benzinga Pro.
Photo via Shutterstock
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