US Congressman Says Bitcoin Creator ‘Saratoshi Nagamoto’ Was Not Innovative,

During a crypto hearing before the Financial Services Committee, U.S. Congressman Brad Sherman referred to the pseudonymous creator of Bitcoin (CRYPTO: BTC) as “Saratoshi Nagamoto” instead of Satoshi Nakamoto. 

What Happened: Sherman expressed skepticism about the notion that cryptocurrency is highly innovative.  “Look at the incredible financial innovation of Enron and Worldcom and reflect on the fact that I don’t believe that Sara Toshi Nakamoto was innovative,” he said.

Dogecoin co-creator Billy Markus, also known as Shibetoshi Nakamoto, strongly criticized Sherman for mistakenly referring to Bitcoin creator Satoshi Nakamoto as “Saratoshi Nagamoto.” In response to Sherman’s error, Markus stated, “That dude has gotta go, he is not fit to hold any position of power.”

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Why It Matters: Sherman, a prominent opponent of cryptocurrency, has consistently advocated for its ban and expressed strong criticism towards the digital asset industry. 

Speaking about the crypto industry during the hearing, Sherman said, “The intent of the billionaire bros in crypto is to appropriate for themselves that literal money-making machine.”

He said that the US does make money by printing it. He subsequently linked this process to the intentions of crypto developers, whom he referred to as “crypto bros.”

Sherman has been serving as a representative for California’s 32nd Congressional District since January 1997. He has been reelected for 13 consecutive terms and continues to represent his district in California.

Price Action: At the time of writing, BTC was trading at $29,434, up 0.21% in the last 24 hours, according to Benzinga Pro.

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