HBO's "Money Electric: The Bitcoin Mystery"

Today is Oct. 8, marking the anticipated release of the HBO documentary Money Electric: The Bitcoin Mystery. Although few were aware of the film a week ago, its creators' bold claims about revealing Satoshi Nakamoto's identity have sparked heightened excitement.

In recent days, the crypto community has been abuzz with speculations about who may portray Satoshi in the film, leading to meme coin creations and bets on platforms like Polymarket.

Despite the overarching frivolity of the discussions, the revelation of Bitcoin's creator could significantly impact the market. An often-repeated myth claims that Satoshi's wallets hold over one million BTC, equating to approximately 4.76% of the total Bitcoin supply, worth over $62.3 billion.

$62 Billion Burn

If HBO conclusively identifies Satoshi Nakamoto as a deceased individual among the leading candidates, it could mean the loss—essentially a burn—of more than one million BTC during the live broadcast. This scenario would render those coins permanently unavailable, potentially devastating for Bitcoin and the broader crypto market.

Yet, amid all the speculation, current expectations regarding the resolution of Satoshi's identity appear to be cautiously low.

This article was originally published on U.Today