Bitcoin breaks the 400 resistance as identity of its founders is revealed

Bitcoin just broke the 400 usd barrier shortly after rumors about the revealed identity of the Bitcoin protocol founder were released on the internet. According to Wired and Gizmodo, the mysterious man behind Bitcoin, Satoshi Nakamoto, is in fact an Australian  entrepreneur Craig S Wright.

bitcoin 420 usd blaze itBitcoin stable around 420

The sudden $16,50 USD jump in Bitcoin price quickly found stability around the 420 USD per coin area today where it has been hovering for pretty much the entire day showing signs of further upward momentum.

Is Craig S Wright really Satoshi?

The evidence provided so far can’t be used to conclude that Craig S Wright is Satoshi Nakamoto and in Wired’s case, the evidence was presented with extreme caution. There is still a very high chance that the claim is simply false.

The raid at Wright’s house

Shortly after the news release Craig S Wright’s home was raided by the Australian police showing that they aren’t taking any chances. The Guardian reported that a total of 10 agents were seen searching for evidence on cupboards and areas of the garage. The police entered Wright’s home on Wednesday afternoon merely hours after the release of previously mentioned news articles and even though officially the raid isn’t related to the revelation, you can’t help but wonder if they are trying to cover something up.

Let’s wait and see

Only time will tell if Craig S Wright really is the mastermind behind Bitcoin and the Blockchain technology, but the market has already reacted very strongly despite the fact that for now we are dealing with nothing more but speculation at this point. Given the fact that such rumors can move the price up so fast, I would be wary of trading the cryptocurrency for a few days or at least until we figure out what’s really going on.

Author: ynef

29 year old freelance writer and web developer. A technophile who appreciates and respects mother nature in all of its glory. Favorite skills in Runescape include Farming, Herblore and Magic.


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