Crypto Market Reaction to HBO’s Bitcoin Documentary is Fairly Stagnant

Bitcoin (BTC) was little changed as the HBO documentary came to light and investors awaited US economic data scheduled for today and tomorrow before taking further positions.

While BTC lost only 0.4 percent in value in the last 24 hours, there was a 0.61 percent decline in major tokens tracked by the CoinDesk 20 (CD20) Index. Ether (ETH) rose 0.3 percent, while BNB Chain (BNB), Solana (SOL) and XRP were little changed. Sui Network’s SUI token has fallen 7 percent since the end of September, after several weeks where it gained over 20 percent in value.

The HBO documentary “Money Electric: The Bitcoin Mystery” sparked speculation in the cryptocurrency community last week when it was said to generate significant interest in the identity of Bitcoin’s anonymous creator, Satoshi Nakamoto.

With its documentary, HBO has joined the ranks of those who identify Bitcoin developer Peter Todd as Nakamoto, based on evidence from the network’s early years. Todd denied the allegations in an interview with CoinDesk, while the Bitcoin community at X largely ignored HBO’s apparent findings.

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Over $44.3 million was bet on Polymarket on who would emerge as Satoshi. Most of the volume was split between Len Sassaman and Adam Back, both of whom have attracted punters’ attention since day one.

Another convention asking bettors whether Satoshi’s identity will be proven this year remained virtually unchanged. Although the “Unproven in 2024” side of the contract dropped from 98% to 82% with the announcement of the documentary, it quickly returned to the 90s within three days. Currently it is at 95.5%.