The massive rally in gold prices and the sharp fluctuations in recent days have brought this asset back to the headlines in the financial world.
However, this development has also sparked a different debate in the cryptocurrency community: The commentary on gold made 25 years ago by Hal Finney, an early Bitcoin pioneer who is frequently accused of being Bitcoin’s founder, Satoshi Nakamoto, has come back to the fore.
In a 2000 assessment, Finney described gold as “just a piece of yellow metal,” adding that nanotechnology could even extract gold from seawater in the future, and arguing that no one would invest serious effort in this mineral in the long term.
Known for his belief in technology and innovation, Finney’s views are now widely considered an early prediction reflecting the “spirit of Bitcoin.” According to cryptocurrency historians, Finney is the most likely person, statistically, to be Satoshi Nakamoto. This view is based on Finney’s extensive knowledge of cryptography, his contributions to Bitcoin’s early days, his interest in Japanese culture, and the fact that he lives just 11 kilometers from Dorian Nakamoto, the alleged Satoshi.
For Bitcoin to surpass the total market capitalization of gold, its current price would need to reach $1.43 million.
*This is not investment advice.