Craig Wright, the man suspected to be Bitcoin founder Satoshi Nakamoto, is in the news again after it was revealed he attempted to sell a large amount of the cyptocurrency for gold.
According to court documents obtained by The Australian newspaper, Wright alleged to have attempted to purchase AU$84.25 million (US$60.7 million) worth of gold and software using Bitcoin based on advice from a dubious businessman by the name of Mark Ferrier.
It’s not entirely clear from the report how far the deal actually went, but at some stage it turned sour, with Wright suing Ferrier for the amount in the Australian Federal Court.
Wright alleges the pair met at a mining conference where Ferrier agreed to buy software on his behalf, before later persuading him to purchase gold by making the claim that gold was a good asset to have in case the price of his “funny money” Bitcoin crashed.
The court documents also indicate that as of May 2013, Wright claimed he could draw Bitcoin from one wallet to the value of AU$100 million (US$72 million), a sizable sum given the US/BTC rate in the middle of that month was $120.72.. read more here
