Ripple CTO Says Satoshi Nakamoto May Have Been Bitcoin’s Original Issuer

Ripple CTO David Schwartz has sparked debate by suggesting that Satoshi Nakamoto, Bitcoin’s mysterious creator, may have acted as the original issuer of BTC. Schwartz noted that because Satoshi mined the initial blocks and launched the Bitcoin network, "one could argue Satoshi was once Bitcoin’s issuer." His comments reignited discussions about how cryptocurrency issuers should be defined.

Schwartz also drew comparisons with Ethereum, stating that its presale clearly involved an issuer structure. The conversation came amid growing scrutiny over Ripple’s role with XRP, particularly whether the company should be classified as its issuer. Schwartz clarified that the traditional definition of “issuer” might not fully apply to decentralized digital assets like XRP.

He proposed a broader interpretation, suggesting that the entities facilitating XRP’s financial ecosystem—such as exchanges—might be considered issuers in practice. According to Schwartz, if issuer is defined narrowly as the creator of a token, Ripple could arguably fit. However, using a wider lens that considers market development and liquidity support, Ripple’s role becomes less central.

Schwartz further emphasized that XRP had no initial market value. He said the asset was “literally worthless” at launch and that he wasn’t even sure the XRP Ledger would sustain itself. This lack of intent to create a tradable asset challenges the view that Ripple launched XRP for profit.

The Ripple CTO has also addressed speculative claims suggesting he could be Satoshi Nakamoto. He firmly denied them, stating that he only became aware of Bitcoin in 2011, well after its 2009 debut. Nonetheless, his recent comments have added nuance to the ongoing conversation around token issuance, decentralization, and regulatory definitions in crypto.