Adam Back: Bitcoin’s value lies in its founder’s anonymity

Adam Back, the co-founder and CEO of Blockstream, is convinced that the identity of Satoshi Nakamoto, the founder of Bitcoin, will always remain a mystery — and that this is a positive thing for Bitcoin.

“Many people have tried to research, look at all the emails, look at all the forum posts, and tried to deduce something from a digital footprint over 15 years, and found nothing,” he said in an exclusive interview with Gareth Jenkinson.

According to Back, who is an early Bitcoin developer who exchanged emails with Satoshi, the fact that Bitcoin doesn’t have a central figure, like Vitalik Buterin for Ethereum, strengthens its status as a commodity. This sets it apart from most other cryptocurrencies, which could be more easily compared to securities.

“It helps it feel more like a discovery than a startup or an invention,” Back explained.

He also emphasized that both of the cryptocurrency’s most common narratives — Bitcoin as digital gold and as a form of money — are essential for the asset’s long-term success.

“I think that you need both because effectively, the fundamental value is the ability to save for the future, which means spending in the future.”