Craig Wright, the controversial figure who claims to be Bitcoin’s creator, lashed out at Michael Saylor, co-founder of MicroStrategy, accusing him of distorting the true essence of Bitcoin.

Wright’s condemnation comes on the heels of Saylor’s announcing that he wants to turn MicroStrategy into a merchant bank for Bitcoin (BTC).

In a blistering critique, posted to X on Oct. 12, Wright said Bitcoin “has been distorted, manipulated, and centralized—now incapable of facilitating simple transactions without the intervention of intermediaries.”

Wright directed his ire at Saylor specifically for “building a so-called ‘Bitcoin bank’ to serve as the very obstacle that Bitcoin was designed to eliminate.”

Saylor recently told Bernstein analysts that MicroStrategy is “a Bitcoin finance company” and that the goal is to amass $150 billion In Bitcoin holdings. The Tysons Corner, Virginia-based company is the largest corporate Bitcoin holder globally.

“This is not innovation,” Wright said. “This is the betrayal of the principles Bitcoin was built upon.” See the full statement below.

Saylor vs. Wright

Wright’s criticism comes at a time when Saylor is positioning MicroStrategy as a major BTC holder and an advocate for Bitcoin as “digital gold.”

Wright, how

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Author: Anthony Patrick