Cryptocurrencies
Investors Downplay Self-Proclaimed Bitcoin Inventor’s Liquidation Warning
- Wright sued by late partner’s estate over crypto ownership
- Analysts skeptical of Wright’s claims, control of holdings
Craig Wright, self declared inventor of Bitcoin, arrives at federal court in West Palm Beach, Florida, on June 28, 2019.
Photographer: Saul Martinez/BloombergThis article is for subscribers only.
Craig Wright is warning that billions of dollars in Bitcoin could soon flood the cryptocurrency market after an unfavorable court hearing.
Investors seem to be taking the alert in stride, with Bitcoin little changed at about $10,150 after the self-proclaimed inventor of the cryptocurrency under the pseudonym Satoshi Nakamora said he “has no choice” but to hand over $5 billion to the estate of his late business partner, Dave Kleiman.