Statue of Bitcoin founder honors mysterious 'god' of cryptocurrency

BUDAPEST, Hungary — Cryptocurrency enthusiasts unveiled what they say is the world's first statue of mystery-shrouded Bitcoin creator Satoshi Nakamoto, at a park in Budapest, Hungary.

The expressionless, ultra-shiny bust is meant to represent "a general human figure, since we do not know the gender, race, age [or] height of the mysterious developer," the creators of the project wrote on a website set up for the statue's debut.

The creation of the monument to the digital currency legend was led by Andras Gyofi, the editor of a Hungarian cryptocurrency news site, as well as other key players in the Central European nation's digital currency space.

The statue features a hoodie-clad figure constructed of bronze, but the face features a special bronze-aluminum composite so "every visitor can see their own face when looking at Satoshi," the project organizers wrote. The art was the work of two Hungarian sculptors, Gergely Reka and Tamas Gilly, who decided to make the reflective face to represent a concept of "We are all Satoshi."

A global debate has ensued for years as to who the actual person or persons behind the iconic pseudonym is. Despite many people claiming to be Satoshi Nakamoto -- and a handful of others being called him by investigative reporters -- the actual original author of the whitepaper that launched Bitcoin in 2008 has not been identified.

Given Bitcoin's meteoric rise over the past decade or so -- a single bitcoin worth about $600 five years ago now is worth more than $47,000 -- Satoshi Nakamoto may have become a billionaire as cryptocurrency became more mainstream. Earlier this month, El Salvador became the first nation in the world to adopt Bitcoin as legal tender.

The mythic nature of the Bitcoin creator only seems to lend to his revered status among crypto evangelists.

A large crowd turned out to view the unveiling of the statue on Thursday in Graphisoft Park, a business park in Hungary's capital city. The statue is available for public viewing, free of charge.

The sculpture's creators look at Bitcoin as "much more" than just a cryptocurrency, and said they sought to honor the "very important legacy" of its creator.

"The underlying technology, blockchain that Satoshi Nakamoto introduced to the world, can truly make our life better," they wrote on their website. "Transparency, fairness, several other values in numerous fields, this is what blockchain truly means."

Copyright © 2021, ABC Audio. All rights reserved.