'Satoshi Nakamoto' Tweet Sends Bitcoin Offshoot Soaring 20% — What's Happening?

Bitcoin BTC/USD  and cryptocurrency enthusiasts have long been fascinated by the enigmatic figure of Satoshi Nakamoto, the anonymous creator of Bitcoin. Since Nakamoto’s disappearance after the publication of Bitcoin’s white paper in 2008, speculations regarding the identity of Nakamoto have abounded, with various coders, developers, and tech entrepreneurs like Elon Musk being linked to the name.

What Happened: However, Monday saw a surprising development as a tweet from a social media account under the handle @satoshi broke its silence on the platform formerly known as Twitter, which is now called X. This is the first tweet from the account since 2018.

In the tweet, the handle associated with Satoshi Nakamoto stated,  "Bitcoin is a predicate machine.  Over the following months, we shall explore different aspects that were not explicitly contained within the white paper.  These aspects are all parts of bitcoin, and are important.  Some of these ideas were touched upon in the early years; now is the time to extrapolate and explain."

Shortly after the tweet from the @satoshi Twitter handle, Bitcoin SV (BSV), a cryptocurrency that branched off from Bitcoin, experienced a significant surge in value. BSV saw an impressive 20% increase in price over the past 24 hours, outperforming both Bitcoin BTC/USD and Ethereum ETH/USD.

Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga's Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won't just be a passive spectator. Don't let this chance slip away – secure early bird discounted tickets now!

See More: A Stay At The Floating Palace From James Bond's ‘Octopussy

Why It Matters: This unexpected tweet has sparked speculation within the cryptocurrency community about the true identity of the person behind the @satoshi handle. Christen Ager-Hanssen, the former CEO of nChain, a blockchain research firm, claimed that "the account has been taken over by Craig" Wright, a figure who has repeatedly claimed to be Satoshi Nakamoto. Ager-Hanssen labeled the previous owner of the account as a Craig Wright fanboy, @andyrowe.

Andy Rowe, the aforementioned @andyrowe, also took to Xon Monday to clarify that he is not Satoshi Nakamoto. He mentioned that the only “scam” he has advocated for is unbounded blocks – a concept that is forbidden in the “permissionless” world of cryptocurrency.

It is yet to be confirmed who is behind the mysterious @satoshi X handle.

Bitcoin SV (BSV), a cryptocurrency that forked from Bitcoin Cash BCH/USD in November 2018, is directly connected to the Nakamoto identity saga. BSV was created by a group led by Wright, who claims to be the original creator of Bitcoin. The primary objective of BSV proponents was to restore the original Bitcoin protocol, as they believed that its white paper outlined a more ambitious vision for the technology than what is currently being pursued by Bitcoin or any of its hard forks.

Photo by Fernando Cortes on Shutterstock

At the time of writing, BSV was trading at $41.62, according to Benzinga Pro.

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?