Bitcoin may fall if the name of its developer becomes known

CryptoQuant CEO Kee Young-joo said that revealing the identity of bitcoin developer Satoshi Nakamoto could have a negative impact on the network’s ecosystem, so it is better for him to remain anonymous.

Ki Young Ju is confident that revealing Nakamoto’s identity will put a lot of pressure on the bitcoin price. If Nakamoto is still alive, crypto traders may have concerns about selling the 1.1 million BTC he owns, which is about 9% of the total supply of bitcoin. There will also be questions about who will inherit Nakamoto’s assets and how they will be distributed in the event of his death, Kee Young Ju argues.

If Satoshi Nakamoto’s real name becomes known, it will provoke conspiracy theories and lead to discussions that will be far removed from the true purpose of the blockchain.

The head of CryptoQuant noted that the addresses of the Bitcoin creator are public, and traders can see that he did not sell his coins. This is another reason why Nakamoto’s privacy should be respected if market participants want to support bitcoin, said Kee Young Ju.

«Bitcoin holders may consider exiting the market only if Nakamoto transfers large amounts from his crypto wallet. If this does happen, users will know about it, as everything is transparent in the blockchain and data is transmitted in real time,» explained CryptoQuant CEO.

Ki Young Ju called the new HBO documentary «Electric Money: The Bitcoin Mystery» as an «insult» to Satoshi Nakamoto, criticizing the director for trying to reveal the identity of the creator of the first cryptocurrency. According to the movie, the inventor of BTC may be 39-year-old developer Peter Todd, but he denies this assumption.