Alleged inventor Bitcoin wanted to buy $85 million worth of gold

Craig Wright, the alleged inventor of the Bitcoin, wanted to buy $85 million in 2013 Buy gold. According to the Australian he had made a deal with Perth businessman Mark Ferrier to buy tens of billions of dollars' worth of gold with Bitcoins. He had also planned to buy software with the virtual currency, which he needed to start a new business.

The alleged inventor of Bitcoin, who goes by the name 'Satoshi Nakamoto', is said to have told Ferrier that he had more than $100 million in Bitcoin at his disposal and that he could pay with it. In the end, the deal fell through, which led to a lawsuit. It was finally laid down by Wright in March last year.

The two had met in 2013 at a Bitcoin mining conference. Businessman Ferrier is said to be buying software from technology giant Siemens and banking software from a financial institution from Saudi Arabia. The plan was for Ferrier to use the software for his own mining company, MJF Mining, and for him to share that software with Wright.

Bitcoins for gold

Wright transferred the bitcoins to the businessman, but he never got to see any of the gold. Ferrier had promised to buy shares in Australian gold mines, but they were never delivered. When Wright reported this, Ferrier was arrested.

The fact that Wright had so many bitcoins at his disposal in 2013 is one of the reasons why he is believed to be the inventor of the virtual currency. The more than 380,000 bitcoins that changed hands at a rate of more than $220 each at that time represented almost 5% of all bitcoins in circulation.