Nic Carter Doubles Down On “NSA Created BTC” Theory

Nic Carter Doubles Down On “NSA Created BTC” Theory

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The theory that the NSA had a hand in Bitcoin’s creation is a decade old and has been revived on social media thanks to crypto champion Nic Carter. 

Resurgence Of An Old Theory

Bitcoin advocate Nic Carter has once again voiced his belief in the controversial theory that the United States National Security Agency (NSA) played a role in the creation of Bitcoin. This long-standing theory, dating back a decade, has resurfaced on social media, gaining renewed attention within the cryptocurrency community. This theory has lingered in the background of crypto discussions for years, periodically sparking curiosity and debate.

NSA's Footprint on Early Bitcoin Discussions

Recently, Iris Energy co-founder Daniel Roberts breathed new life into this theory by sharing screenshots of a 1996 research paper titled "How to Make a Mint: The Cryptography of Anonymous Electronic Cash" on The intriguing aspect of this research paper lies in its footer notes, which say that it was "prepared by NSA employees." 

Additionally, among the credited experts was Tatsuaki Okamoto, co-inventor of the Okamoto–Uchiyama public key cryptosystem in 1998. Cryptography academics have suggested that the name sounds very similar to Satoshi Nakamoto, the pseudonymous creator of Bitcoin. 

Carter's Firm Belief

On September 21, Nic Carter, a partner at Castle Island Ventures, reiterated his support for the theory, dubbing it the "Bitcoin lab leak hypothesis." He believes that Bitcoin was initially a closed internal research and development project, which a rogue researcher chose to release secretly.

Carter doesn't suggest that the U.S. government secretly controls all Bitcoin, a related theory that often accompanies the NSA conspiracy. Instead, he posits that the researcher acted independently to preserve anonymity.

Carter's endorsement of the NSA theory dates back to 2020 when he proposed the idea of Bitcoin being a "monetary bioweapon." In 2021, he stated that the NSA's only notable contribution to the world was "letting Bitcoin leak from the lab." He pointed out that this doesn't necessarily imply government control but rather an unintended release.

Expert Opinion

In August, former NSA cryptanalyst Jeff Man acknowledged in an interview that although it was theoretically feasible for the NSA to create Bitcoin for intelligence-gathering purposes, he considered it highly improbable. 

On the other hand, Matthew Pines, the Director of Intelligence at Krebs Stamos, a cybersecurity firm, opines that it probably resulted from the collaboration between NSA cryptography experts and cypherpunk enthusiasts. 

Former Goldman Sachs executive Raoul Pal has posited his own theory that Bitcoin was invented by the U.S. government in tandem with the U.K. government. 

As Nic Carter's support for the "NSA Created BTC" theory gains attention, the mystery surrounding Bitcoin's origins continues to captivate the cryptocurrency community, offering an intriguing lens through which to view its history.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

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