NYT Report Says Adam Back Could Be Bitcoin Creator
Today in crypto, A New York Times investigation points to Adam Back as Satoshi Nakamoto, but the Blockstream CEO denies it. Bitcoin reclaimed $72,000 after US President Donald Trump entered a ceasefire with Iran, and inflows into US spot Bitcoin exchange-traded funds (ETFs) rebounded sharply this week, suggesting that institutional selling is finally reversing course.
NYT revives Adam Back theory in latest bid to identify Bitcoin creator
The New York Times published an investigation on Wednesday arguing that Adam Back, the British cryptographer who invented Hashcash, is the most likely person behind the Satoshi Nakamoto pseudonym used by Bitcoin’s creator.
Back denied the claim, telling Cointelegraph he was referring reporters to his post on X after previously rejecting similar attempts to identify him as Satoshi. Back reiterated in the post that he is not Satoshi, adding that he “was early in laser focus on the positive societal implications of cryptography, online privacy and electronic cash, hence my ~1992 onwards active interest in applied research on ecash, privacy tech on cypherpunks list which led to hashcash and other ideas.”
The investigation was conducted by John Carreyrou, a French-American investigative journalist best known for exposing the Theranos fraud. In the report, he claims that Back, who was cited in Nakamoto’s Bitcoin white paper, actively discussed electronic cash for years, then vanished just as Bitcoin (BTC) emerged, only to reappear after Satoshi disappeared.
The story revives one of Bitcoin’s oldest mysteries by putting one of the protocol’s earliest and most influential cryptographers at the center of a new attempt to identify Satoshi, but the case remains circumstantial without cryptographic proof.
The investigation also leaned on stylometric analysis, arguing that Back’s writing shared features with Satoshi’s, including formatting habits, hyphenation quirks and overlapping technical language. The report did not present that analysis as conclusive proof.
Bitcoin reclaims $72,000 after US, Iran agree to two-week ceasefire
The price of Bitcoin pushed past $72,000 for the first time in 20 days after the US and Iran agreed to a two-week ceasefire.
“I agree to suspend the bombing and attack of Iran for a period of two weeks,” Trump said in a Truth Social post on Tuesday, hours before his deadline for Iran to reopen the Strait of Hormuz or face military attacks on key infrastructure.
Iran’s Supreme National Security Council also said it accepted the ceasefire.
Bitcoin climbed 2.6% in the hour following the announcement, reaching $72,339 at the time of publication, according to CoinMarketCap.
Crypto traders have historically seen geopolitical tensions as a headwind for prices, with any hints of easing often triggering quick relief rallies.
Bitcoin ETF inflows rebound sharply, led by BlackRock
US-listed spot Bitcoin ETFs saw strong investor demand on April 6, recording $471 million in net inflows — the largest single-day total since late February, according to SoSoValue. The surge marks a notable shift after weeks of selling activity, suggesting institutional appetite for Bitcoin exposure is picking up again.
The bulk of inflows was concentrated in a few major funds, led by BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, with ARK 21Shares’ ETF also contributing significantly.
The renewed momentum follows a broader turnaround that began in March, when Bitcoin ETFs returned to net positive flows after experiencing outflows earlier in the year. Total assets under management have climbed back above $90 billion, indicating that capital is re-entering the sector as market conditions stabilize.
Despite the positive inflow data, market sentiment remains sensitive to macroeconomic forces. Analysts note that upcoming inflation data and broader economic signals could still influence whether this recovery in ETF demand continues or proves short-lived.
