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The upcoming launch of an HBO documentary centered on the long-speculated identification of Bitcoin’s (BTC) creator, Satoshi Nakamoto, has ignited a frenzy within the cryptocurrency house, notably with creating new memecoins. Based on a Bloomberg report, these tokens are being launched to capitalize on the renewed curiosity in Nakamoto’s true identification.
Are Memecoins Again In The Highlight?
Among the many mentioned names is Len Sassaman, a cryptographer who died in 2011. Based on the report, many consider he might be revealed as Nakamoto’s true identification within the upcoming documentary Cash Electrical: The Bitcoin Thriller, which is predicted to be launched this week.
Present information from the blockchain-based betting platform Polymarket signifies that Sassaman is the main candidate; nonetheless, the implied likelihood of his being Nakamoto has lately fallen to 21%, down from a peak of 68% on October 3.
Memecoins have skilled a notable surge in recognition and newly created tokens over the previous 12 months, dubbed the “memecoin mania,” as buyers flock to make fast positive aspects versus established cryptocurrencies reminiscent of Bitcoin or Ethereum.
Over the previous 12 months, the expansion of those tokens has been vital, notably as blockchains reminiscent of Solana (SOL) have made them simpler and cheaper to create and commerce. Commenting on the phenomenon, Ben Yorke, Vice President of Ecosystem at crypto change WOO X, mentioned:
Memecoins are appearing like decentralized prediction markets, with many variations of a single theme popping up round rising subjects.
Nonetheless, Yorke cautioned that this setting creates a “negative-sum” state of affairs the place insiders and influencers revenue whereas on a regular basis buyers wrestle to discern real traits and tokens.
Bitcoin Thriller Deepens
Including to the intrigue, Meredith Patterson, Sassaman’s widow, has beforehand denied claims that her late husband was the creator of Bitcoin. Nonetheless, the curiosity in Sassaman has led Patterson to have interaction with the memecoin pattern. On October 5, Patterson shared on social media platform X that she obtained memecoins honoring her cat, stating:
Proper, so, me not figuring out actually something concerning the world of memecoins, I apparently despatched just a few DMers a Coinbase tackle. But when persons are insisting on sending me memecoins about my cat, I’m not gonna say no.
Over time, there have been quite a few makes an attempt to uncover Nakamoto’s identification, together with a controversial article in Newsweek that incorrectly recognized Dorian Nakamoto, a Japanese-American engineer, because the creator. Dorian has constantly denied any affiliation with Bitcoin.
It stays to be seen what additional data the forthcoming documentary will reveal on this regard, which might result in the revelation of the true identification behind Satoshi Nakamoto later this week after years of hypothesis.
On the time of writing, the most important cryptocurrency in the marketplace has managed to reclaim the $63,740 degree after briefly dipping beneath the $60,000 mark on the finish of final week.
Featured picture from DALL-E, chart from TradingView.com
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