Market News… Go Back...

BitcoinSV Spikes in Value

Suprise Announcement by Calvin Ayre Causes Rally

2019-05-21 15:09:53 | Jonathan Ganor

BitcoinSV has been an interesting cryptocurrency to watch. It began as a Bitcoin Cash fork in 2017. Since its launch, the project founder Craig Wright has been consistently doubling down on his claim to be THE Satoshi Nakamoto. This has made him a divisive figurehead in the world of cryptocurrencies. The wide majority consider him "Faketoshi" while others still declare him to be Satoshi Nakamoto.

Recently, Craig Wright has taken legal action against a few notable figureheads in the cryptocurrency world. He has sued Bitcoin Cash founder - Roger Ver, and notable crypto journalist - Peter McCormack for supposed libel. It is also worth mentioning that he and his business partner, Calvin Ayre threatened countless others with legal action.

Craigtoshi?

Earlier today an announcement was posted on CoinGeek, a "news" site linked to BitcoinSV and owned by Wright's partner Ayre. As per the announcement:

"Craig S. Wright has been granted U.S. copyright registrations for the famed original Bitcoin white paper, and most of the original Bitcoin code (version 0.1). Importantly, the registrations issued by the U.S. Copyright Office recognize Wright as the author under the pseudonym Satoshi Nakamoto of both the white paper and code. This is the first government agency recognition of Craig Wright as Satoshi Nakamoto, the creator of Bitcoin."

 

The Markets React!

Following the announcement, BitcoinSV's value went wild. It has gained over 82% in the past 24 hours as per Coinmarketcap. It climbed from #16 by marketcap to #11 currently, just below TRON. It is currently trading at $112.


Reality Check

Copyright registration does not officially mean that the U.S. government recognizes Wright as Satoshi Nakamoto. The U.S. Copyright office does not adjudicate authorship disputes. It merely acts as a specialized notary-like service, officially stating that "person X claimed copyright." Anyone can claim copyright for anything hypothetically.

Time will tell If Wright's future court battles will be successful and if he can provide any credible evidence behind his claim.


BACK TO HOME