Craig Wright, who has a supply of around 1.1 million Bitcoin, in a recent interview with Kitco’s David Lin responded to the fears that he would crash the market by selling off most of this supply, which at press time was worth close to $50 billion. The concerns over what he might do with his large supply stem from the post that the self-proclaimed Satoshi Nakamoto published on Slack in May 2020, in which he said he was planning “to sell a large volume of BTC for USD,” saying that: Many interpreted this post as a threat, especially the part in which he declares his intention to simultaneously launch a 51% attack on the Bitcoin network. In such a situation, a single person or group takes control of the network, allowing them to block transactions, as well as reverse them. However, neither the attack nor the sell-off has happened, signaling that Wright may have changed his mind.
The Bitcoin sell-off might still be coming
Responding to the host’s question about his true intentions concerning his Bitcoin supply, Wright admitted that he does plan on selling it, but in due course: Wright also had some scathing criticism for the crypto market as well, expressing his opinion that it isn’t even a “market” by definition, but “a number of bucket shop exchanges,” and adding that “none of them are regulated, none of them are legal, even Coinbase.” The controversial figure also brought into question the very use of the word “crypto”, which he considers a misnomer since “there’s no encryption in Bitcoin,” claiming that:
Ethereum creator calls self-proclaimed Satoshi Craig Wright a scammer
It’s worth mentioning that the Ethereum founder Vitalik Butering accused Wright in June 2021 of lying that he was the anonymous founder of the largest cryptocurrency, comparing him to former U.S. President Donald Trump and daring his lawyers to sue him. Furthermore, as Finbold has recently reported, Wright was forced to pay $43 million to a joint venture he co-created, due to being convicted by a federal court of illegally taking intellectual property belonging to the venture. Watch the full interview: Craig Wright, self-proclaimed Bitcoin inventor, reveals plan for his BTCs Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
