Craig Wright Attacks Billionaires for Treating Bitcoin as “Speculative Asset”

Craig Wright slams billionaires for hoarding Bitcoin and turning it into a “mere speculative asset.”

Craig Wright writing calculations on screen, and BTC is on a wave behind him.
Created by Kornelija Poderskytė from DailyCoin
  • Craig Wright takes a jab at billionaire Bitcoin holders. 
  • Wright claimed the elites have turned the original crypto into a speculative asset. 
  • He reiterated Bitcoin’s vision of serving “billions.” 

Self-proclaimed Bitcoin evangelist Craig Wright has attacked billionaires, accusing them of turning the world’s largest cryptocurrency by market cap into a “mere speculative asset.” 

Wright’s opinion came barely two weeks after he teased his “infinite” Bitcoin scaling solution with TerraNode, claiming he had worked on it for the last 15 years. Wright said the solution would eliminate unreasonable fee hikes and power a borderless electronic cash system when introduced to the public within the “next decade.” 

Craig Wright’s Issue with Bitcoin Billionaires

In a recent X post shared in an account he started promoting in September, Wright accused billionaires of twisting Bitcoin’s narrative, turning it into an asset that caters to a “select few lounging in the penthouses of financial privilege.” 

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“Bitcoin was built for the billions, not the billionaires,” the post read. “The billionaires, those who thrive on the exploitation of opaque financial systems and centralized control, have twisted this narrative. They seek to reduce Bitcoin to a mere speculative asset, a tool for hoarding rather than creating.” 

Noting that the Bitcoin narrative by billionaires was “ultimately futile,” Wright asserted that the crypto asset’s creation was a testament to how technology can provide a platform where value can flow without interference from gatekeepers siphoning wealth while pretending to foster security and stability. 

According to Wright, Bitcoin’s “original” protocol aims to reward producers, traders, and innovators with a growth framework that prioritizes individuals as the fundamental unit of economic progress. 

Additionally, Wright believes that Bitcoin’s essence is to empower “billions” with accessible and low-cost transactions as the engine of capitalism in its “purest form.” 

Stay updated on why Craig Wright slammed Michael Saylor’s Bitcoin strategy:
Craig Wright Slams Michael Saylor’s Trillion-Dollar ‘Bitcoin Bank’ Ambition

Read how Wright had planned to appeal his recent court loss:
Craig Wright Vows to Appeal Damning “Not Satoshi” Verdict

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga is a crypto reporter at DailyCoin covering breaking news. Brian has minor holdings in Bitcoin and Ethereum.

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