Ethereum co-founder Joseph Lubin has reignited debate around the identity of Satoshi Nakamoto after saying cryptographer Len Sassaman and early Bitcoin pioneer Hal Finney remain the strongest candidates behind Bitcoin’s creation.
During a recent interview, Lubin discussed Bitcoin’s future, the growing risks from quantum computing, and what could eventually happen to Satoshi’s untouched Bitcoin wallets.
“It’s definitely not Adam,” Lubin said while dismissing theories surrounding Adam Back. “But Len Sassaman and Hal have been, in my opinion, the leading candidates for a very long time.”
Dormant Bitcoin Fuels Satoshi Speculation
The Finney and Sassaman theories have continued gaining traction largely because of the enormous amount of early Bitcoin that has never moved.
Finney was famously the first person to receive Bitcoin directly from Satoshi in 2009 and accumulated significant early BTC holdings before passing away in 2014. Sassaman, who died in 2011, is widely respected in cryptography circles, with some researchers believing he may have helped write or structure the original Bitcoin whitepaper.
Supporters of the theory argue that the untouched “Satoshi coins” linked to Bitcoin’s earliest wallets may effectively be removed from circulation entirely.
Macro investor Fred Krueger recently added to that narrative, arguing the dormant stash worth of $87.8 billion was likely controlled by Finney and Sassaman, effectively removing them from circulation.
Lubin Warns Bitcoin Faces Quantum Threat
Moving on, Lubin also warned that future advances in quantum computing could eventually threaten Bitcoin wallet security.
According to him, Bitcoin may need to migrate users toward quantum-secure wallets to protect funds and preserve the network long term.
“As we ponder the quantum threat, Bitcoin will have to migrate to quantum-secure wallets,” he explained.
That transition, however, could create major debates around old inactive wallets, including coins potentially tied to Satoshi Nakamoto.
What Happens to Satoshi’s Bitcoin?
Lubin further suggested Bitcoin may ultimately rely on social consensus to decide how dormant wallets are treated during a future quantum-security migration.
“Here’s the deadline… if you don’t switch, move your coins by that deadline, then you’re out of luck,” he said.
While he acknowledged that such a move would raise difficult questions around Bitcoin property rights, he argued that protecting the network remains the priority.
“We want Bitcoin to survive. We want Bitcoin to be very strong because Bitcoin represents decentralized economic bandwidth,” he added.
