Craig Wright, the controversial figure who claims to be the creator of Bitcoin, has accused MicroStrategy co-founder Michael Saylor of distorting the true nature of Bitcoin.
Wright’s accusations come shortly after Saylor announced that he wants to transform MicroStrategy into a commercial bank for Bitcoin (BTC).
In a scathing critique posted to
Wright was particularly angry at Saylor for “building so-called ‘Bitcoin banks’ that would serve as the very obstacles Bitcoin was designed to remove.”
Saylor recently told Bernstein analysts that MicroStrategy is a “Bitcoin finance company” and its goal is to accumulate $150 billion in Bitcoin holdings. The Tysons Corner, Virginia-based company is the largest Bitcoin holder globally.
“This is not innovation,” Wright said. “This is a betrayal of the principles on which Bitcoin was built.” See full story below.
sailor vs light
Wright’s criticism comes at a time when Saylor is positioning MicroStrategy as a major BTC holder and defending Bitcoin as “digital gold.”
However, Wright suggests that Saylor’s strategy distorts Bitcoin’s original purpose. He continues:
“Calling BTC ‘Bitcoin’ while simultaneously profiting from the role of intermediary that true Bitcoin rejects is the height of fraud, and it is through this misrepresentation that Saylor seeks to build his empire.”
This criticism reflects a broader, ongoing debate within the cryptocurrency community regarding the true vision of Bitcoin. While Saylor is seen by many as the key figure in generating institutional interest in BTC, Wright and others argue that BTC has strayed from Bitcoin’s original goals, particularly with regard to scalability and transaction fees.
Wright’s accusations are sure to spark further discussion as the rift between different factions of the Bitcoin community continues to deepen, particularly between BTC and Bitcoin SV supporters.
Bitcoin SV is a cryptocurrency created from the hard fork of Bitcoin Cash (BCH) in November 2018.
Saylor has been an outspoken advocate for Bitcoin as a long-term investment, including purchasing billions of dollars worth of BTC through MicroStrategy. He views Bitcoin as a hedge against inflation and a store of value, similar to gold.
Wright, on the other hand, argues that Bitcoin was never intended to be a store of wealth.
Satoshi claims
Wright is not without controversy of his own. His claim that he is Satoshi Nakamoto, the pseudonymous creator of Bitcoin, remains a point of debate and skepticism within the wider cryptocurrency community.
HBO’s new documentary about Satoshi Nakamoto appears to have raised the possibility that Bitcoin developer Peter Todd may be the creator of the cryptocurrency.
Todd denied to X.com that he was Satoshi.