Craig Wright Seeks $1.18B from Bitcoin Core Developers
Wright's lawsuit includes a staggering damages demand of £911,050,000,000, around $1.18 billion, based on the market valuation differences between BTC and BSV.
Craig Wright has initiated yet another legal battle, this time targeting Bitcoin Core developers, after the UK High Court dismissed his claim to be Satoshi Nakamoto, the elusive creator of Bitcoin.
In his new lawsuit filed in the London High Court’s Chancery Division, Wright alleges that Bitcoin Core developers have misrepresented Bitcoin Cash (BTC) as the original Bitcoin, asserting that Bitcoin SV (BSV) is the true version that aligns with Nakamoto’s original vision.
This claim comes with an eye-watering demand for damages estimated at £911,050,000,000, around $1.18 billion, calculated based on the market valuation differences between BTC and BSV.
Bitcoin, which currently trades at around $68,000, and Bitcoin SV, valued at approximately $51.58. His lawsuit highlights the significant impact he believes these changes have had on investor perceptions and market dynamics.
In his filing, Wright targets the introduction of updates such as SegWit and Taproot, which he argues misrepresent Bitcoin’s intended design. He contends that these modifications have created confusion among investors regarding Bitcoin’s core attributes.
This latest lawsuit comes after earlier legal challenges that questioned Wright’s claim of being Satoshi Nakamoto, the supposed creator of Bitcoin. The UK High Court has already dismissed these claims as unfounded.
Prominent figures in the cryptocurrency community have expressed skepticism about Wright’s claims. Hodlonaut, who won a defamation case against Wright in Norway, criticized the lawsuit as “delusional legal antics.”
The Coalition of Bitcoin Developers ( COPA ) also believes this legal action will fail, following a pattern of Wright’s previous unsuccessful attempts to assert his identity as Bitcoin’s creator.
The legal landscape surrounding Craig Wright remains contentious, with his latest lawsuit expected to further polarize opinions in the cryptocurrency community. Many industry members question the legitimacy of his claims, viewing his legal battles as attempts to reclaim authority over Bitcoin’s narrative.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MARA's stock jumps after raising $1 billion via convertible notes to buy more bitcoin
MARA Holdings announced the successful closing of its $1 billion offering of 0% convertible senior notes due 2030.The bitcoin miner plans to allocate around $199 million of the proceeds to repurchase $212 million in principal of its existing convertible notes due 2026. The remaining funds will be used to acquire more bitcoin.
Gold loses luster as institutional demand fuels bitcoin price surge, analysts say
Bitcoin’s 46% surge over the past month, contrasted with gold’s 3% decline, highlights a shifting investor preference toward alternative store-of-value assets, analysts say.Derivatives traders are buying up bitcoin call options ahead of Trump’s inauguration, signaling strong bullish sentiment for the beginning of 2024.
SEC is 'engaging' Solana ETF applicants: report
SEC “engaging” on Solana ETF applications, sparking optimism for potential approval in 2025.VanEck, 21Shares, and Bitwise lead Solana ETF filings amid pro-crypto White House hopes.SOL token rises 4.6% to $247.91, bolstered by Solana’s strong DeFi ecosystem and demand.
Shiba Inu Developer Says SHIB Is No Longer a Memcoin
Trending news
MoreCrypto prices
More
