Len Sassaman Gets the Memecoin Treatment Ahead of HBO Bitcoin Creator Documentary
2024-10-07

The suspense around who will be revealed as Bitcoin's {{BTC}} apparent creator on an upcoming HBO document is making rounds in crypto circles, but some have found a way to make money with tokens amid the drama.
Memecoins themed after cryptographer Len Sassaman - who Polymarket bettors believe to be revealed as Bitcoin's pseudonymous creator Satoshi Nakamoto - have started to populate the Solana, Ethereum and Bitcoin networks in the past week.
LEN tokens on Solana and Ethereum were issued by opportunistic traders in the past week, running to a market capitalization of a few million before paring gains. Another LEN token issued over four months ago claims to be the first to be issued on Solana - saw a price boost late week and sits at over $1.6 million as of Monday.
Some even learned about Sassaman's cat Sasha and created memecoins around her. Others claim that another cat, ODIN, was Sassaman's first, as his wife Meredith L. Patterson tagged on her blog.
SASHA tokens on Ethereum and Solana have reached market capitalizations of over $5 million in the past week. Crypto users have contacted Patterson on X asking about memecoins - receiving a Solana address for token donations in return.
Memecoins are often created as a form of internet culture or to celebrate a meme. They leverage the power of community, where the shared humor or interest in a meme can create a strong, supportive base that drives value for the token.
Anyone can call a smart contract and issue tokens on the BSC (or other blockchains) for a few cents, and the presence of decentralized exchanges means tokens can instantly be issued, supplied with liquidity and traded soon after.
Some say that memecoin bets on tokens themed after Sassaman or his cats could be an underpriced market opportunity.
"But I know if HBO releases a documenter and tells everyone that @lensassaman is satoshi, then every crypto mfers and every big media will say/write its name and talk about him,” said crypto X user @ariesyuangga. “If Len Sassaman is named as Satoshi Nakamoto this cat is going to fly,” said @dametime_tradez, another crypto X user.
The HBO documentary" Money Electric: The Bitcoin Mystery" is currently scheduled to air on Oct. 8. Sassaman leads Polymarket odds at 35% as of Monday, with Hal Finney and Adam Back in the running.