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Art Pays Tribute to Satoshi, the Creator of Bitcoin

  • A statue representative of the creator of the BTC was unveiled this week in the capital of Hungary. 
  • The allegorical bust of Satoshi Nakamoto was financed with contributions from Bitcoin followers in Budapest.

Budapest was the scene this week for the unveiling of a commemorative statue in tribute to the anonymous creator of Bitcoin, the world’s first cryptocurrency in market capitalization.

The regal bronze statue was erected in the Hungarian capital on Thursday amid an enthusiastic crowd, who took the opportunity to photograph themselves next to the striking effigy. This is the first statutory symbol of the crypto industry in the world, its creators said.

The sculpture representing Satoshi Nakamoto, the mythical creator of the BTC, whose true identity is unknown, is located in the business park around the Danube river in Budapest.

Andras Gyorfi, a journalist specializing in Bitcoin and promoter of the project, said that they thought of “Satoshi as the founding father of the entire cryptocurrency industry.” He added that the mysterious character “Created Bitcoin, created blockchain technology, is the god of our market.”

The bust, perched on a stone pedestal containing the name of the Bitcoin developer, has no distinctive features on the face. It is covered by a hoodie that has the BTC symbol engraved on it.

The idea was to preserve the anonymous character of Nakamoto, explained sculptors Reka Gergely and Tamas Gilly, who created the fine piece with human characteristics. The work cast in bronze is so polished that viewers can use it as a mirror.

“It was a big challenge. It is very difficult to make a portrait sculpture of a person that we don’t know exactly what they look like,”  Gilly said in a statement to the Associated Press. “I hope that through the language of sculpture I have managed to convey the basic idea of Bitcoin, that it belongs to everyone and no one at the same time,” he said.

The promoters of the project revealed that they invited Nakamoto to the event in hopes that he would introduce himself and finally the world would meet the creator of the BTC in person. But no one came forward claiming that role, Gyorfi said.

What the event did have was public participation. Hundreds of people showed up at the site where the unique representative work of the crypto industry rests.

On The Flipside

  • The digital currency, recently adopted by El Salvador as legal tender, was created in the midst of the 2008 global financial crisis.
  • Its objective was to create a financial system parallel to the traditional one, without intermediaries, through a technology that has proven to be safe to carry out online transactions.

Why You Should Care?

According to Gyorfi, the statue represents a show of respect for the creator of BTC and seeks to “raise awareness about the blockchain and cryptocurrencies.” The bust was financed with about $10,000 contributed in cryptocurrencies by followers of Bitcoin in Hungary.

The paradox was that the digital money raised had to be converted into Hungarian Forints as “unfortunately, the sculptors and other service providers still do not accept Bitcoin,” he said.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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