Legal Battle over 1 MILLION Bitcoin Begins
In Miami, a big judicial battle has begun, with Bitcoin worth billions of dollars on the line.
The court case sets Ira Kleiman against Craig Wright, with the central question being who developed the world’s largest cryptocurrency.
Wright has claimed to be Satoshi Nakamoto, the Bitcoin founder who goes by the pseudonym, Satoshi Nakamoto.
However, Kleiman claims that his late brother David, a computer specialist and a close friend of Wright’s, was a co-creator of the cryptocurrency.
This is significant because Satoshi Nakamoto owns 1.1 million bitcoins, which are presently worth $69.4 billion in cash.
Kleiman claims that his brother’s estate is entitled to half of the money, but even if the three-week civil trial finds in his favour, there’s no assurance that the family will be able to access it.
Despite his claims, Wright has been unable to establish beyond a reasonable doubt that he is Satoshi Nakamoto, and the Australian entrepreneur has taken legal action against anyone who challenges his claims.
Murky Waters Wright hopes to show his exclusive ownership of the 1.1 million BTC in question, and if successful, he promises to “put these monies to charity use, bringing people in undeveloped nations out of poverty.”
He believes he had no option but to reveal his identity as Satoshi Nakamoto after others erroneously claimed to be the creator of Bitcoin, which forced him to “defend his stance and the original concept of Bitcoin.”
Although the major goal, in this case, is to see if Wright and Kleiman worked together, crypto fans will be looking for evidence that might lead to Satoshi Nakamoto’s true identity.
Wright went to court in the United Kingdom earlier this year against the anonymous operator of the Bitcoin.org website, which was one of the first to be affiliated with the cryptocurrency.
Because it posted the Bitcoin white paper, the entrepreneur accused Bitcoin.org and Cbra, its publisher, of copyright infringement.
Because Cbra refused to publicly identify himself, he was unable to mount a defence in British courts, and Wright was awarded a default judgement. In the United Kingdom, Bitcoin.org was forced to remove the whitepaper and pay legal fees.
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