Did Jack Dorsey Create Bitcoin? VanEck Analyst Details ‘Compelling’ Connections Between Tech Mogul and Satoshi

VanEck’s head of digital asset research says he holds a “strong belief” that Twitter founder Jack Dorsey is the pseudonymous creator of Bitcoin ( BTC ), Satoshi Nakamoto.

Clarifying that his opinion is not necessarily shared by VanEck itself, Sigel says the evidence linking Dorsey to Satoshi – which he says includes “uncanny” coincidences and patterns – is “compelling and worthy of further scrutiny.”

On the social media platform X, Sigel shares slides from a report titled “Jack Dorsey=Bitcoin” that goes over many different similarities and parallels between Satoshi, Dorsey and the creation of Bitcoin.

One of the coincidences Sigel notes was that during the months leading up to the release of the original Bitcoin Whitepaper , Dorsey was in Japan, and had posted a link to a cryptography manifesto website called “cr.yp.to.”

At the same time, Satoshi had emailed the creator of HashCash, Adam Back, from Satoshi@anonymousspeech.com to notify him that he would be cited in an upcoming paper. Days later, the Bitcoin.org domain which hosts the whitepaper, was registered by contact@anonymousspeech.com to 1-3-3 Sakura House, Nakano-ku, Tokyo.

Dorsey was also known to be an admirer of Adam Back – now the CEO of Bitcoin development firm Blockstream – since he was a teenager , and can be seen in his 1996 University of Missouri-Rolla yearbook wearing a shirt with a reference to Back’s code.

Says Sigel,

“Some have argued that publicizing this suspicion harms Bitcoin or its community. I strongly disagree. Even if Jack does still hold 5.2% of Bitcoin supply, the protocol’s decentralized design ensures it remains beyond any one individual’s control. Transparency about this hypothesis could reduce unnecessary speculation and address market fears surrounding Satoshi’s 1.1M BTC, particularly concerns that these holdings could destabilize the market if suddenly liquidated.

For instance, the theory that Satoshi is Paul Le Roux, who remains in prison but is eligible for release in 2032, has fueled worries about such scenarios. If Jack is indeed Satoshi, this is an opportunity for him to take steps to protect his safety, communicate succession and inheritance plans, and provide assurances that align with Bitcoin’s decentralized ethos. Clarity on these points might strengthen Bitcoin’s investment case by building long-term confidence in the system’s resilience…

If Satoshi is meant to remain unknown, scrutiny will reveal that as well. I understand this view may provoke strong reactions, but I believe it’s a conversation worth having.”

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