HBO’s highly anticipated documentary Money Electric: The Bitcoin Mystery has sparked controversy by suggesting that Peter Todd, an early Bitcoin developer, is Satoshi Nakamoto, the mysterious creator of Bitcoin. Todd quickly denied the allegations, taking to X (formerly Twitter) to refute the claims, but the film has already set the crypto world abuzz.
The nearly two-hour documentary, directed by Cullen Hoback, embarks on a “globe-trotting investigation” to solve one of the internet’s greatest mysteries—unmasking Nakamoto.
Throughout the film, Hoback presents various leads and interviews several experts, gradually narrowing in on the former Bitcoin devloper Peter Todd as the prime suspect. In a dramatic exchange towards the end, Todd is shown teasing Hoback by suggesting he is Nakamoto, only to contradict himself in later moments. This playful banter has left many viewers wondering whether Todd was simply toying with the filmmaker or if the claim carries weight.
Following the film’s premiere, debate erupted online, with some in the crypto community criticizing Hoback’s conclusions. Many took to social media, particularly X, to voice their skepticism. Todd himself expressed frustration, stating that the evidence presented in the documentary was speculative and without substance. Despite Todd’s denials, the film’s revelation has added a fresh layer to the decade-long speculation surrounding Nakamoto’s true identity.
Peter Todd Accuses Film for Putting his Life in Danger
In a statement to CNN, Pete criticized the HBO documentary and filmmakers behind it for being “irresponsible” and putting his life in danger.
“Cullen is really grasping for straws here,” Todd added, accusing the filmmaker of exaggerating minor coincidences into a larger narrative. He also expressed frustration over not being contacted by HBO prior to the documentary’s release, nor given the opportunity to preview the film. “It’s ironic—this kind of leap in logic is exactly what fuels conspiracy theories,” Todd said.
Hoback, best known for his work on Q: Into the Storm, which explored the QAnon conspiracy, is no stranger to stirring controversy. In an interview with Fast Company, he acknowledged that naming Todd as Nakamoto would provoke heated debate. “People are going to debate it, no matter how strong our case is, and that’s fine. That’s the nature of this space,” Hoback said.
The identity of Satoshi Nakamoto remains one of the most enduring mysteries of the internet age. Whoever Nakamoto is—or was—they hold significant influence over Bitcoin’s origins and potentially control over 1.1 million BTC, currently valued at approximately $68 billion. Despite years of investigations and countless theories, Nakamoto has managed to remain anonymous for over 15 years, a feat that continues to baffle the global crypto community.
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