A Cypherpunk Background
Murray emphasizes Dorsey’s profound interest in cryptography during his college days. Dorsey donned an RSA t-shirt from Hashcash innovator Adam Back, subscribed to cryptographic newsletters, and enrolled in a university course dedicated to encryption technologies. In 2003, he authored an autobiography that chronicled his encounters with hacking and cryptographic initiatives, often working on these projects late at night. This is particularly interesting as the timestamps of early Bitcoin code documents align closely with those late hours.
Dorsey has also articulated thoughts about financial autonomy and alternative trade systems. He once wrote about moving away from dependence on the US dollar and establishing a barter network—ideas that are fundamental to Bitcoin’s original intent.
Striking Coincidences with Bitcoin’s Timeline
From September 2007 to January 2009, Dorsey’s Twitter bio simply read “sailor.” Notably, the original Bitcoin code features a phrase well-known among sailors: “Never go to sea with two chronometers—take one or three.”On January 10, 2009, Satoshi inadvertently logged into an IRC chat, disclosing a California-based IP address. Coincidentally, Dorsey was also in California at that time. Murray highlights additional remarkable coincidences:
- The very first Bitcoin transaction occurred on Dorsey’s mother’s birthday.
- Satoshi registered on the Bitcoin forum on Dorsey’s birthday.
- The last block mined by Bitcoin’s creator was on Dorsey’s father’s birthday.
- Interestingly, the Bitcoin addresses generated by Satoshi contained patterns that seem to allude to Dorsey’s San Francisco address: Jack Dorsey, 2 Mint Plaza.
Satoshi’s Disappearance and Dorsey’s Ascendancy
In late 2010, Satoshi posted on the Bitcoin forum advising against cryptocurrency donations to Wikileaks. The following day, Twitter received a subpoena for information regarding the non-profit organization. Shortly after, Satoshi withdrew from public discourse. In March 2011, Dorsey became Twitter’s Executive Chairman while simultaneously leading Square. Just a month later, Satoshi sent his final known communication. Murray believes this alignment is too coincidental. “When Satoshi told Martti Malmi he was genuinely busy with work, Dorsey was deeply involved in launching Square,” he observes.
Skepticism and Contradictions
Not everyone is convinced by this theory. Analysts at BitMEX Research argue it’s challenging to pinpoint the moment Satoshi ceased mining Bitcoin. They contest one of Murray’s major points: “How can you accurately identify Satoshi’s last mined block when the Patoshi pattern diminishes over time?”
In 2014, Satoshi’s email account was hacked, and the hacker threatened to expose his links to St. Louis—Dorsey’s hometown. The threat was never acted upon.
In 2020, during an interview with Lex Fridman, Dorsey was posed the direct question of whether he was Satoshi. His reply? “I would not admit it even if I were.” Murray points out that this response stands in stark contrast to those of other suspects, like Nick Szabo, Adam Back, and Hal Finney, all of whom have outright denied any connection.
Dorsey’s Ambiguous Comments
Dorsey has remained cryptic regarding the matter. In July 2024, he remarked on the decentralized platform Nostr: “I often imagine Satoshi sitting somewhere, laughing at all of this.”
He later expressed gratitude to the late Hal Finney, one of Bitcoin’s earliest contributors, for his contributions. For Murray, this only adds fuel to the speculation. “The notion that Satoshi never intended to be identified is a narrative others have constructed about him. Satoshi opted for pseudonymity, not anonymity.”
A Mystery That Persists
Previously, HBO’s documentary Money Electric: The Bitcoin Mystery suggested that Canadian programmer Peter Todd could be Satoshi. Todd denied these claims, later going into hiding out of safety concerns.
So, is Dorsey the genius behind Bitcoin? There’s no definitive evidence, just a web of fascinating connections. The enigma of Satoshi Nakamoto remains one of the technology sector’s most significant unsolved mysteries—and the speculation is far from over.
