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Aussie bitcoin inventor traded $61.1m coins for gold and software

Bitcoin inventor sold $61.1m of his currency for gold and software in 2013
By: Chris Smith | Business, Financial & Legal News | Posted: Dec 14, 2015 8:29 am

While TweakTown reported that the inventor of Bitcoin was deduced to being an Australian male last week, further news has come to light that this secretive man had more up his sleeve than just crypto-currency.

 

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In a sale to alleged fraudster Mark Ferrier , Craig Wright is said to have sold his Bitcoin stash in return for gold and software, worth around $61.1 million. However, this sale didn't go as expected for Wright, with it turning sour and resulting in a $60.5m lawsuit hitting the Sydney Federal Court.

 

Wright's turmoil wasn't limited only to the destroyed deal with Ferrier, reports claim that this man was also on the verge of bankruptcy between 2006-2013 due to "a legal dispute with another business partner that saw Mr Wright have a restraining order issued against him and convicted of contempt of court," as seen on The Australian. While bitcoin is worth an approximate global value of $5 billion, Wright has not yet been officially proven as this currency inventor, but all leads point to him.

 

Image courtesy of Sam Ruttyn, The Australian.

NEWS SOURCES:Theaustralian.com.au

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