Craig Wright, the controversial figure who claims to be Satoshi Nakamoto, has initiated a new lawsuit against Bitcoin Core developers, seeking a staggering $1.18 billion in damages. This legal action comes on the heels of the UK High Court’s dismissal of his claim to being the creator of Bitcoin, further complicating his ongoing battle for recognition within the cryptocurrency community.
Wright alleges that the developers behind Bitcoin Core have misrepresented Bitcoin Cash (BTC) as the original Bitcoin, asserting that Bitcoin SV (BSV) aligns more closely with Nakamoto’s true vision. He claims that significant updates, such as Segregated Witness (SegWit) and Taproot, have distorted Bitcoin’s original design and confused investors, leading to a misperception of its value in the market.
The lawsuit seeks approximately £911 billion, reflecting the alleged market valuation difference between BTC and BSV. Currently, Bitcoin is valued at around $68,000, while BSV trades at about $51.58. Wright argues that these updates have not only diluted the value of BSV but have also caused substantial financial harm to its holders.
Wright’s lawsuit aims to challenge BTC’s dominance in the cryptocurrency market by claiming that deviations from Nakamoto’s vision have led to market fragmentation and confusion. This legal battle underscores the deep ideological divides within the crypto community regarding what constitutes “true” Bitcoin and highlights ongoing tensions between different factions of Bitcoin supporters.
The outcome of this lawsuit could have significant implications for both Bitcoin and its forks, potentially influencing investor confidence and regulatory perspectives within the cryptocurrency landscape.
