Statue honouring mysterious Bitcoin founder unveiled in Budapest

An imposing bronze statue was unveiled in Hungary's capital on Thursday which its creators say is the first in the world to pay homage to the anonymous creator of the Bitcoin digital currency.

Erected in a business park near the Danube River in Budapest, the bust sits atop a stone plinth engraved with the name of Satoshi Nakamoto, the pseudonym of the mysterious developer of Bitcoin whose true identity is unknown.

"We think of Satoshi as the founding father of the whole cryptocurrency industry," said Andras Gyorfi, a Bitcoin journalist and the initiator of the project. "He created Bitcoin, he created the blockchain technology, he's the god of our market."

The featureless face of the bust, wrapped in a bronze hoodie emblazoned with the Bitcoin logo, is heavily polished to make it reflective like a mirror in which viewers can see themselves.

Its creators, sculptors Reka Gergely and Tamas Gilly, sought to portray a human form while staying true to the anonymity of Nakamoto.