Investors Buy Firm Linked to Alleged Bitcoin Creator Craig Wright

A startup tied to Australian academic and businessman Craig Wright, who last year claimed to be the inventor of bitcoin, has been sold.

AccessTimeIconApr 13, 2017 at 7:46 p.m. UTC
Updated Sep 11, 2021 at 1:14 p.m. UTC

A startup tied to Australian academic and businessman Craig Wright, who last year claimed to be the inventor of bitcoin, has been sold.

The sale of nChain – formerly known as EITC Holdings – was announced yesterday. The buyer is a Malta-based investment fund, High Tech Private Equity Fund SICAV plc, which is managed by Zürich-based Accuro Fund Solutions. A group of companies affiliated with nChain was also acquired as part of the deal.

An investigative report published by Reuters last summer connected Wright to EITC, through which as many as 50 patent applications were filed in the UK. Public records show that EITC submitted several dozen patent applications throughout 2016.

Wright made global headlines in late 2015 after several publications identified him as the possible face behind Satoshi Nakamoto, the pseudonymous creator of bitcoin. Word that Wright was the subject of an Australian tax investigation and reports of police raids further heightened the situation.

The developments culminated in a media frenzy when Wright moved to prove that he was indeed Satoshi – only to drop the bid amid growing scrutiny and criticism. Yet as the controversy abated, rumors began to circulate in the industry that there may be developments related to intellectual property.

But, according to the firm's announcement, nChain may be planning a more open approach to the patents it is seeking.

In its release, nChain said that it "intends to make some of its intellectual property assets available to the blockchain community through open source software and royalty-free licensing" sometime this year. However, the firm gave no indication when that process might actually begin.

Image Credit: BBC


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.