Australian man confirms his identity as Bitcoin creator


In December, police raided Wright’s Sydney home and office after Wired magazine named him as the probable creator of Bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency, a currency which has attracted the interest of banks, speculators, criminals and regulators.

Police at the time referred all inquiries about the raids to the ATO, which said it could not comment on “any individual’s or entity’s tax affairs” due to legal confidentiality.

The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The ATO ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes.

Bitcoin experts say that unmasking Satoshi Nakamoto would be significant for the industry. Not only would the proven founder likely hold some sway over the future of the bitcoin protocol, but Nakamoto may also hold enough bitcoin to influence its price.

As an early miner of bitcoins, Nakamoto is sitting on about 1 million bitcoins, worth more than $400 million at present exchange rates, according to bitcoin expert Sergio Demian Lerner.

165 total views, 1 views today