Australian entrepreneur Craig Wright who identified himself as Bitcoin founder backtracks

Zee Media Bureau

New Delhi: Australian entrepreneur Craig Wright who had identified himself as Bitcoin founder couple of days back has backtracked citing that he would not provide further proof to back up his claim that he created Bitcoin.

"I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me," read a statement posted on his website.

"But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage."

Wright said his "qualifications and character were attacked" and he was "not strong enough".
"I know that this weakness will cause great damage to those that have supported me," he said.

Wright had identified himself as Satoshi Nakamato, the pseudonym he says he created when launching the currency in 2009.

Bitcoin has emerged as a dominant cryptocurrency, which allows consumers to make electronic transactions without commercial banks as intermediaries. However, no central bank has backed Bitcoin.

One Bitcoin is currently worth around USD 449.

Nakamato's identity has been the subject of fierce speculation since he outlined the ideas behind bitcoin in an academic "white paper" in October 2008.

Wright has now unmasked that the pseudonym was a homage to Tominaga Nakamoto, a 17th century Japanese philosopher, merchant and advocate of free trade.

With Agency Inputs