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Bitcoin Creator Satoshi Nakamoto Statue Unveiled in Hungary

The statue of the mysterious Bitcoin founder Satoshi Nakamoto was unveiled on Thursday in Budapest, Hungary, to the crowd’s amazement. The monument cast in bronze material depicts a person in a hoodie with the BTC logo on it, meant to give credit to the creator of the most famous coin. The presentation of the first statue of the famous pseudonymous creator was announced on Twitter.

More on the Incredible Monument

The non-full body statue has an expressionless face with a mirror-like reflection due to its aluminum glide. According to reports, the reason behind the reflective build is to allow everyone who comes across the monument to see their reflection. It is meant to send a “we are all Satoshi” kind of message to the world.

The idea to make a statue in honor of the renowned creator came from crypto reporter Andras Gyorfi. In a newspaper interview, Gyorfi stated that knowing the real face behind the famous pseudonym was unimportant. Instead, it’s paying respect to the man who invented something that would digitalize the world and allow more control over one’s assets and money devoid of the traditional financial system that’s essential. 

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The bronze statue was built in Graphisoft Park, a popular tech park in Hungary that hosts the statue of Canon, Microsoft, and the late founder of Apple Incorporated Steve Jobs. Satoshi Nakamoto’s statue had been previously unveiled in 2018 in Kyiv, Ukraine, but that was a virtual launch.

Who is Satoshi Nakamoto?

Satoshi Nakamoto is an enigma in the crypto world. The name is a pseudonym used by a person or group of persons who are the actual creators of Bitcoin. To date, no one knows the figure behind the creation of the BTC, making everyone believe that the real founders kept their names a secret for security purposes.

Investigations were conducted to identify the real individuals behind the Bitcoin network, but they all proved futile. It’s believed that Satoshi was meticulous about his mode of operations and communicated electronically with some developers. The last known correspondence involving Nakamoto was in 2010, a year after Bitcoin came to light. Some people believe that Nakamoto died after Bitcoin became fully developed. 

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Although there’s no substantial proof about who the real Satoshi is, the media has put forward several names as the one. Dorian Nakamoto, Hal Finney, and Nick Szabo are examples, but investigations ruled them out as Nakamoto. Reports claim that Satoshi holds 5% of the total BTC holdings, amounting to almost $50B. 

Satoshi created the white paper, the idea behind the development of BTC back in 2008 as a solution to the problems present in the traditional financial system. With the peer-to-peer network, Nakamoto proposed a DeFi approach where investors deal with themselves directly using technology. It eliminates all the hurdles one encounters in a traditional financial setup, such as double-spending.

Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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