Satoshi

Bank

Satoshi Nakamoto

Bitcoin

<p>A surprising statement from a senior official at the People’s Bank of China (PBoC) reignites the debate over the intellectual legitimacy of Bitcoin and its mysterious creator, Satoshi Nakamoto.</p>
<h2 id="h-un-hommage-inattendu-venu-de-chine">An unexpected tribute from China</h2>
<p>Lu Lei, vice-governor of the People’s Bank of China, surprised many in his book published in 2021 by placing <a href="https://www.cointribune.com/satoshi-nakamoto-qui-est-le-fondateur-du-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Satoshi Nakamoto</a>, the anonymous creator of Bitcoin, on the same level as Robert Mundell, Nobel laureate in economics.</p>
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<p>“<em>In the field of forecasting and the practice of monetary economics, there are two individuals who deserve great respect: Robert Mundell, who has recently passed away, and Satoshi Nakamoto, who remains unknown</em>,” wrote <a href="https://mp.weixin.qq.com/s/dBuAKPoCGjHEwAZjmvp5yA" target="_blank" rel="noopener noreferrer nofollow">the senior Chinese official</a>.</p>
<p>This exceptional recognition from one of the highest monetary officials in China marks a turning point in the institutional perception of Bitcoin.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://coinbase-consumer.sjv.io/c/2801338/552039/9251" target="_blank" rel="noopener noreferrer nofollow">Your 1st cryptos with Coinbase</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
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<h2 id="h-deux-visions-monetaires-aux-destins-differents">Two monetary visions with different destinies</h2>
<p>Lu Lei’s analysis highlights the contrasting paths of these two monetary innovators. Mundell, despite his significant theoretical contribution with the euro and his vision of a <a href="https://www.cointribune.com/en/global-public-debt-will-surpass-100-trillion-dollars-in-2024/" target="_blank" rel="noopener noreferrer nofollow">unified global monetary system</a> centered around the dollar, did not see his ambitions fully realized.</p>
<p>As for Satoshi Nakamoto’s Bitcoin, it has gradually transformed into “<em>an extremely expensive digital asset, increasingly detached from the circulating currency</em>“, according to the vice-governor.</p>
<p>This recognition by the PBoC holds particular significance as <a href="https://www.cointribune.com/cbdc-la-chine-fait-un-pas-de-plus-vers-le-totalitarisme/" target="_blank" rel="noopener noreferrer nofollow">the institution develops its own digital currency</a>. It demonstrates that central banks, rather than rejecting innovations like Bitcoin, are seeking to learn from them for their future evolution.</p>
<p>Although <a href="https://www.cointribune.com/crypto-devrait-on-attribuer-le-prix-nobel-deconomie-a-satoshi-nakamoto/#:~:text=Satoshi%20a%20cr%C3%A9%C3%A9%20Bitcoin%2C%20un,utilisateur%20Lucho%20Polleti%20sur%20Twitter." target="_blank" rel="noopener noreferrer nofollow">Satoshi Nakamoto cannot receive the Nobel Prize</a> due to his anonymity, this validation from a major monetary authority constitutes a significant form of institutional recognition of his contribution to modern monetary economics.</p>

Bitcoin: What China Has Just Admitted About Satoshi Nakamoto

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