The price of Bitcoin surged on Wednesday morning after Elon Musk revealed what he thought was a conspiracy theory about who Satoshi Nakamoto was – the unknown creator of Bitcoin.

Musk took to Twitter to announce his conspiracy theory, where he posted a tweet with a cryptic image that showed the names of four companies – Samsung Electronics, Toshiba Corp., Nakamichi Corp., and Motorola – which, when combined, spelled out Satoshi Nakamoto.

While it is unclear and unknown if there is any link between the companies and Nakamoto, Musk’s tweet caused Bitcoin to spike on the claims.

As of mid-morning on Wednesday, Bitcoin was up 8.64% to $42,124.97, according to CoinMarketCap.com.

This is not the first time that Musk has made claims about who he thinks Nakamoto really is.

In a podcast interview in December with Lex Fridman, Musk suggested that the Bitcoin creator was possible Nick Szabo.

Szabo is a digital currency expert who is known for founding the cryptocurrency Bit Gold back in 1998.

At the time, Musk told Fridman, “You can look at the evolution of ideas before the launch of Bitcoin and see who wrote about those ideas. And then, I don’t know who created Bitcoin for practical purposes, but the evolution of ideas is pretty clear before that.

“It seems as though Nick Szabo is probably, more than anyone else, responsible for the evolution of those ideas. He claims not to be Nakamoto, but I'm not sure that's neither here nor there. But he seems to be the one more responsible for the ideas behind Bitcoin than anyone else.”

No one truly knows who the mysterious Nakamoto is. Some theories suggest that more than one person is behind the creation of Bitcoin and the pseudonym Satoshi Nakamoto.

Groups called for a wealth tax of five percent for billionaires like Elon Musk
Groups called for a wealth tax of five percent for billionaires like Elon Musk POOL via AFP / Patrick Pleul
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