Final answer:
Gigantopithecus was not an early hominid species referred to as 'The Hobbit'. They were a genus of extinct apes that lived from around 9 million years ago to as recently as 100,000 years ago and were primarily quadrupedal.
Step-by-step explanation:
No, the statement is not true. Gigantopithecus was not an early hominid species referred to as 'The Hobbit.' Gigantopithecus was actually a genus of extinct apes that lived from around 9 million years ago to as recently as 100,000 years ago. They were massive in size, with some individuals reaching heights of up to 10 feet and weighing around 1,200 pounds. They are believed to have been primarily quadrupedal, meaning they walked on all fours, similar to modern-day gorillas.