A documentary titled “Finding Satoshi” tracking the identity of Satoshi Nakamoto, the creator of bitcoin (BTC), is set to be released.

On April 21, blockchain media outlet Coindesk reported that the production team said it had reached conclusions about Satoshi after long reporting and technical analysis, and plans to disclose details in the full film.

The documentary focuses not only on listing candidates but also on why bitcoin was created and why its creator disappeared. Director Tucker Tooley said, “Behind bitcoin is not technology but a human being,” and explained that the team tried an approach combining investigative reporting and narrative.

The reporting process was not smooth. Investigative journalist Bill Cohan said there were many in the industry who viewed attempts to uncover Satoshi’s identity as unimportant or a waste of time. The production team brought in private investigator Tyler Maroney to reset the scope of the investigation and narrowed the candidates, focusing on cryptographers involved in bitcoin’s early formative period.

Maroney said the investigation focused not on investors or corporate executives but on cryptographers, mathematicians and early cypherpunks. Industry figures including Whitfield Diffie, Joseph Lubin and Katie Haun took part in the reporting as sources. The production team said it approached the Satoshi question by combining testimony and materials from various industry contacts built up over a long period with technical review.

The documentary interprets bitcoin’s origins differently from today’s “digital gold” narrative. Maroney explained that bitcoin was not designed from the outset as a store of value but began as a tool to protect personal privacy, rooted in concerns about a surveillance society. The production team stressed that understanding this context is necessary to properly grasp bitcoin’s essence.

It also examines why the debate over Satoshi’s identity is unlikely to fade. Some believe bitcoin use is not a problem even if the creator’s identity is not known, but the production team judged that the designer’s intent and background are directly linked to bitcoin’s identity. An analysis was also raised that some large investors may even want anonymity to be maintained, fearing the impact on markets and reputations if the Satoshi myth is broken.

From a market perspective, the Satoshi issue remains sensitive. Satoshi is estimated to hold about 1.1 million bitcoin, and the holdings have never moved even once. The creator’s identity and intent, as well as the existence of those holdings itself, remain a factor that continues to affect bitcoin’s narrative and market psychology.

The production team stressed that the work is meaningful not only for pointing to a specific person but also for showing which people and ideas were connected leading up to bitcoin’s creation.

Finding Satoshi will be released on April 22 through the official website, findingsatoshi.com.