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Craig Wright: ‘I Invented Bitcoin — Now It’s a Ponzi Scheme’

Written by:
Aaron Goldstein
Published on:
Feb/13/2021

The man who claims to have invented Bitcoin now says it's a ponzi scheme after the digital currency crept towards the $50,000 mark this week.

The price of bitcoin hit a high of $48,192.14 following news that Elon Musk’s Tesla spent $1.5 billion (£1.1 billion) on the digital currency and would soon accept it as a form of payment for its electric cars.

At home in Surrey, Wright tells the Sunday Times. “I went from stupidly rich to insanely rich. Technically, my family is one of the richest in the world now because of insanity.”

Wright reportedly holds approximately 1.1 million bitcoin.  While we are not exactly math wizards here at Gambling911, that appears to be somewhere in the range of US$52 billion.

The Australian-born computer scientist is also the chief scientist at nChain, a blockchain startup which promotes the use of bitcoin SV (BSV), a hard fork of the bitcoin cash (BCH).

Wright is far from the only high profile individual claiming bitcoin to be a ponzi scheme.

Back in September, Barstool Sports founder Dave Portnoy revealed he's completely cashed out his $1 million bet on bitcoin and warned he too thinks the cryptocurrency market is nothing more than a Ponzi scheme.

- Aaron Goldstein, Gambling911.com

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