American entrepreneur Jack Dorsey has once again been linked to one of cryptocurrency’s most enduring mysteries, Satoshi Nakamoto’s true identity. A recent theory gaining traction on X (formerly Twitter) has reignited speculation that Dorsey, co-founder of Twitter and digital payments giant Square, may be the elusive Bitcoin creator.
The debate was fueled by financial journalist Seán Murray, who compiled a list of data points and coincidences suggesting Dorsey could be Nakamoto. His February 15 post on X laid out what he believes is compelling circumstantial evidence tying Dorsey to Bitcoin’s origins. While some in the crypto community have found the connections intriguing, skeptics argue that the evidence remains inconclusive.
The Case for Dorsey as Satoshi
Murray’s theory hinges on several key observations. He notes that Dorsey has exhibited cypherpunk tendencies since at least 1996, when he studied computer science in college. One particularly compelling connection is Dorsey’s association with Adam Back, the inventor of Hashcash a precursor to Bitcoin whose shirt Dorsey was once seen wearing.
Murray also highlights several coincidences involving birthdays and timestamps. Notably:
- Bitcoin’s first transaction took place on January 11, the birthday of Dorsey’s mother.
- The last block Satoshi mined before disappearing was on March 5, 2010, which happens to be Dorsey’s father’s birthday.
- Satoshi reportedly signed up to the Bitcoin forum on November 19, which is Dorsey’s birthday.
- The original Bitcoin source code documents are all timestamped at exactly 4 AM—a time Dorsey once had in his Twitter bio.
Furthermore, Murray points to Satoshi’s use of “brute force” to create Bitcoin addresses, including one that begins with “jD2m.” He suggests this stands for “Jack Dorsey 2 Mint,” a reference to Dorsey’s former residence at 2 Mint Plaza in San Francisco.
Skepticism and Crypto Community Reactions
Despite these findings, not everyone is convinced. Bitcoin research group BitMEX Research has challenged the theory, arguing that determining when Satoshi mined specific blocks has become increasingly difficult over time due to the degradation of the “Patoshi pattern.”
Another point of contention is an alleged hack of Satoshi’s email on September 8, 2014. The hacker reportedly claimed to have evidence linking Satoshi to St. Louis, Missouri—the city where Dorsey was born and raised. Additionally, Murray claims that Satoshi accidentally logged into Internet Relay Chat on January 10, 2009, revealing an IP address from California, where Dorsey has spent much of his career.
However, critics find it hard to reconcile the idea that Satoshi—a champion of decentralization and financial freedom—would later helm Twitter, a platform that has faced allegations of government-influenced censorship.
WikiLeaks Connection and Other Theories
Murray also draws parallels between Bitcoin and WikiLeaks, noting that Satoshi discouraged donations to WikiLeaks on December 5, 2010. Nine days later, on December 14, Twitter was reportedly issued a secret court order compelling it to disclose information about WikiLeaks. While Dorsey was not Twitter’s CEO at the time, he was still on its board.
Adding to the intrigue, Satoshi last logged into the Bitcoin forum on December 13, just one day before Twitter received the court order. Murray claims to have compiled supporting evidence in 10 of the 15 “chapters” he has written on the subject since December 23, 2024.
The Crypto Community Weighs In
As with past Satoshi theories, this one has its critics. Bitcoin cypherpunk Jameson Lopp condemned Murray’s approach, stating that publicly accusing someone of being Satoshi without definitive proof is reckless and could endanger them.
“[It] makes you a massive asshole because you’re painting a target on them,” Lopp said in a February 2024 post on X. “Even if that person is dead, you’re endangering their family.”
Murray’s Dorsey theory follows another recent claim by HBO’s Cullen Hoback, who suggested that Canadian computer scientist Peter Todd might be Nakamoto—a theory widely dismissed by industry experts. Other popular candidates over the years have included early Bitcoin contributor Hal Finney, cryptographer Nick Szabo, and Hashcash creator Adam Back.
Conclusion: Mystery Continues
Whether Dorsey is Satoshi or not, the mystery remains unsolved. While the circumstantial evidence is compelling, definitive proof is still lacking. Until Nakamoto—or someone with irrefutable evidence—steps forward, Bitcoin’s enigmatic creator will remain one of the most intriguing unsolved riddles in modern finance.
