Craig Wright Slams Michael Saylor’s Trillion-Dollar ‘Bitcoin Bank’ Ambition

• Craig Wright has taken a jab at Michael Saylor’s Bitcoin strategy.
• Wright accused Saylor of misleading investors.
• The self-proclaimed Bitcoin advocate has also filed an unprecedented lawsuit.

Australian computer scientist Dr. Craig Wright has criticized Michael Saylor ’s ambitious plan to transform MicroStrategy into a global “Bitcoin bank” with a trillion-dollar valuation.

Saylor reportedly revealed the plan in a recent interview with analysts at Bernstein, during which he confirmed MicroStrategy’s intention to seek additional loans to fund fresh Bitcoin purchases. As of October 12, the company held 252,220 BTC, making it the largest corporate holder of the original cryptocurrency.

Wright Slam’s Saylor’s Bitcoin “Middleman” Position

In an X post on October 12, Wright accused the MicroStrategy co-founder of positioning himself as Bitcoin’s “middleman” by building the BTC bank.

“His ambition is not to serve the ideal of Bitcoin, but to insert himself, to control, to profit off the ignorance of those who have been sold a lie. This is not innovation. This is the betrayal of the principles Bitcoin was built upon,” Wright wrote.

Craig Wright also disagreed with Saylor’s alleged promotion of BTC as a system that functioned as a peer-to-peer electronic cash built on Satoshi Nakamoto’s vision.

In a follow-up post on Saturday, Wright claimed that Saylor’s promotion of BTC “as though it aligns with the original Bitcoin White Paper” was a misrepresentation with significant legal implications under British law.

“Saylor’s action potentially fall under fraudulent misrepresentation as defined by the Misrepresentation Act 1967. This Act addresses false statements that induce others to enter into agreements or transactions based on incorrect information,” Wright added.

Per the self-proclaimed Bitcoin advocate, Michael Saylor could face “significant” legal liabilities due to his alleged promotion, which Wright claimed could cause financial harm to the public and investors.

Meanwhile, an October 10 court filing shows that Craig Wright is suing BTC Core Devs and Square for £911 billion.

Stay updated on MicroStrategy’s recent Bitcoin acquisition:
MicroStrategy Buys 7,420 Bitcoins Shortly After $1.01B Debt Offering

Read how DC AG accused Michael Saylor of evading taxes:
DC AG: MicroStrategy’s Saylor Evaded Taxes, Bragged About It