This Australian computer scientist is known for his years of legal litigation. Craig Wright—the man who claims to be Satoshi Nakamoto, the creator of Bitcoin—whose assertion has been formally rejected by the High Court of London—is now attempting to regain media attention once again. This time, the catalyst is billionaire Ray Dalio’s criticism of Bitcoin. Dalio recently stated that central banks around the world are unlikely to hold Bitcoin on their balance sheets.
For those who missed it, Dalio's main concern is that blockchain’s absolute transparency and traceability are its greatest strengths. In his view, public ledgers make transactions susceptible to comprehensive monitoring and external scrutiny, which conflicts with the interests of national regulatory authorities.
Bitcoin or BTC?
Craig Wright uses this argument to promote his long-held view that “BTC” and “Bitcoin” should be strictly distinguished. He believes that the modern Bitcoin network has deviated from its original vision, becoming a system filled with intermediaries such as Coinbase, Block, and the Lightning Network.
Wright believes this is precisely why the network is vulnerable to the kind of criticism proposed by Dalio.
That’s Bitcoin (BTC), not bitcoin.pic.twitter.com/9vwPMjZDte
— S. Tominaga (also known as Dr. Craig Wright) (@CsTominaga)May 13, 2026
In contrast, the real Bitcoin Wright typically refers to this fork project as "Bitcoin Satoshi's Vision" (BSV), which should operate as a pure peer-to-peer network. In this model, users transact directly with each other, and nodes are solely responsible for recording settlements, without the need for third-party services.
Although Wright attempted to frame this issue as a fundamental debate, the market capitalization of the BSV project he promotes remains near historic lows, while Bitcoin Classic has gained global institutional recognition and maintained its position as the leading digital asset, supported by spot ETFs.
By leveraging Ray Dalio’s authority and pointing to technical shortcomings of Bitcoin—such as scalability via the Lightning Network—Wright attempted to repack an old idea and sell it to the market. However, with his legal claim to being Satoshi Nakamoto officially revoked, this debate now holds significance only for a small group of blockchain history researchers.
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