Alleged Bitcoin Inventor alias, Satoshi Nakamoto, has won a lawsuit against him that compels him to give up $50 billion worth of the cryptocurrency in a highly followed case in court. Craig Steven Wright, an Australian computer scientist, and businessman have been the subject of this lawsuit, especially as he has claimed the pseudonym of Nakamoto.
Bitcoin Inventor Satoshi Nakamoto Trial Wins Case
The lawsuit that was pushed against Craig Wright was one from the family of his late business partner, David Kleiman, where it talked about 1.1 million Bitcoins that are worth more than $54 billion now. The alleged inventor has been ruled out by the jury to keep the massive stash of Bitcoin he has, not revealing whether he has it or not.
Satoshi Nakamoto's identity has been long questioned, especially when it first appeared on the whitepaper of Bitcoin when it was initially released for its availability and public use. The end of this case has put a massive spotlight on the alleged Bitcoin creator which has the coin's community questioning his identity as the man behind the coin.
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Nakamoto, Wright to Not Give Up $50 Billion Worth of Crypto; Experts Still Skeptic
The Bitcoin creator did not give up the $50 billion worth of cryptocurrency to the lawsuit as he won this case, still keeping the massive supply that remains unknown to the public. However, experts are skeptical regarding the legitimacy of Wright being Nakamoto, as he was not compelling enough and has not enough solid proof in his claims as to the creator.
A bitcoin symbol is pictured at a cryptocurrency exchange branch near the Grand Bazaar in Istanbul on October 20, 2021, a day after Bitcoin took another step closer to mainstream investing with the launch of a new security on Wall Street tied to futures of the cryptocurrency.
Bitcoin and Its Massive Popularity Today, Nakamoto's Pseudonym
In 2016, the first outing and confirmation of Satoshi Nakamoto in public has been made, and it was with Craig Wright's claims that he was the creator of the coin and part of the team behind it. Since then, Nakamoto's identity was greatly questioned, as well as Wright who has not convinced experts that he is the inventor of the popular blockchain coin.
Initially, the popular Tesla and SpaceX CEO was also speculated to be the famous Nakamoto but has publicly denied his involvement with the coin since then. Initially, Wright has promised to distribute the coins he has stashed with him to the public, something which he has called off after some time, and when people were already hooked on the promise.
Years long after the incidents, the lawsuit is now near completion, where a jury has already ruled out Wright (a.k.a. Satoshi Nakamoto) to transfer his remaining supply of Bitcoin to public usage. Still, some experts are not convinced of Wright's identity as per his claims, especially as some find him uncompelling with his ruse as the creator of the blockchain.
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Written by Isaiah Richard
