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A controversial theory about Bitcoin (BTC)’s origins is resurfacing after ‘Professor Jiang’ claimed the asset may have been created by U.S. intelligence agencies. Speaking in a long-form interview, he challenged the widely accepted Satoshi Nakamoto narrative. The remarks tap into ongoing debates about Bitcoin’s true independence from state influence.

Jiang questions Satoshi and points to intelligence agencies

Jiang’s argument, shared on Jack Neel’s podcast premiered on April 15, starts with skepticism about Bitcoin’s origin story. As he explained:

“Why would you spend years, possibly decades in your basement creating a new technology, the blockchain technology and then just give it for free to the world? That makes no sense.”

He also pointed to the name Satoshi Nakamoto as part of his theory, claiming it “translates into central intelligence,” a widely disputed interpretation.

From there, Jiang framed his view around capability and incentives, arguing that the likes of the Defense Advanced Research Projects Agency (DARPA), the National Security Agency (NSA), the Central Intelligence Agency (CIA), and others, would have both the technical expertise and strategic motivation to build such a system. He said:

“When you do game theory analysis, you look at all possibilities. You end up with a deep state. You end up with a CIA.”

Theory centers on surveillance and covert funding

Jiang argued that blockchain technology could serve intelligence purposes in two key ways. As he explained, agencies could leverage transparency for tracking financial activity:

“One is surveillance where they’re able to monitor everything. It’s almost like a Trojan horse if you were to use blockchain.”

He also claimed it could act as a funding mechanism for covert operations, describing blockchain as “a great mechanism” for financing activities outside traditional systems.

“Second is the CIA doing a lot of black ops. It is within a government. It is basically outside of all political control, but it needs a mechanism to finance its operations.”

According to Jiang, keeping Bitcoin’s origins hidden would be essential for adoption, and he added that public trust would collapse if users believed it was state-controlled.

He offered no concrete evidence to support the claims, and they contradict the widely accepted view that Bitcoin emerged from the cypherpunk movement. Still, theories like this continue to circulate in parts of the crypto community, reflecting deeper tensions around trust and control.

Though unlikely to change mainstream understanding, Jiang’s comments highlight how questions about Bitcoin’s origins remain unresolved for some observers, especially as the asset grows in global importance.