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Hungary: A bronze monument of the unknown Bitcoin inventor was unveiled

On Thursday, Budapest, the capital city of Hungary, revealed a bronze monument honouring the mysterious founder of Bitcoin. Additionally, its makers claim it is the first of its kind in the world and it is now a highlight in Hungary.

Statue of Satoshi Nakamoto in Hungary

The figure rests on a stone pedestal inscribed with Satoshi Nakamoto. Satoshi Nakamoto is the alias of the enigmatic Bitcoin creator whose actual identity is unknown.

Andras Gyorfi, a Bitcoin journalist and the project’s founder Hungary, described Satoshi: “the founding father of the whole cryptocurrency industry”. “He created Bitcoin, he created the blockchain technology, he’s the god of our market.”

The bust’s extremely refined and featureless face is to make it shine like a mirror. In which spectators may see themselves, and it’s wrapped in a golden hoodie imprinted with the Bitcoin emblem.

Its designers from Hungary, Reka Gergely and Tamas Gilly, wanted to depict a human figure while maintaining Nakamoto’s identity.

“It was a big challenge. It is challenging to make a portrait sculpture of a person that we don’t know exactly what they look like,” Gilly informed 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.”

The Rise of Bitcoin

The aftermath of the global financial crisis of 2008, is when the idea of Bitcoin came into the real world. The purpose was to circumvent existing financial institutions by building safe technology for peer-to-peer digital transactions without the need for intermediaries such as banks.

Nakamoto is a pseudonym that may allude to a person or group of individuals of unknown gender, age, or country origin. Additionally, they wrote the company’s first white paper released that year.

Hopes of Unveiling The Founder

According to Gyorfi, the organisers of the monument project invited Nakamoto to the unveiling. In the hopes of finally knowing the Bitcoin inventor’s actual identity.

Even though the event drew hundreds of people from Hungary, nobody claimed to take credit for creating the cryptocurrency that is the centre of attraction for millions of investors and even El Salvador accepted it as a legal tender. And now this statue is the centre of attraction in Hungary.

The monument, according to Gyorfi, is a tribute to Nakamoto. Moreover, it is an effort to “raise awareness of blockchain and cryptocurrencies” in Hungary and to the whole world

He raised about $10,000 in bitcoin contributions with the help of other Bitcoin aficionados in Hungary to fund the bust’s construction.

But that had to be changed into the currency of Hungary since “unfortunately the sculptors and other service providers in Hungary don’t accept Bitcoin yet”.

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