The $ 3 Billion dump in Bitcoin is not going to happen

At the heights of the so-called “hash war” last year, Bitcoin SV founder Craig Wright had threatened to crash the rival bitcoin cryptocurrency to $ 1,000.

The threat itself comes from the claim that Wright is Satoshi Nakamoto, the pseudonym creator of bitcoin, and that he owns billions of dollars in the reference cryptocurrency. Wright even sued people who refused to recognize him as the original creator of bitcoin.

But the clock turned when he himself was sued for being 50 percent of Satoshi. Ira Kleiman, brother of the late Dave Kleiman, who allegedly helped Mr. Wright to coin the first batch of bitcoin, accused him of stealing Dave’s part of 1 million BTC.

The United States court found Mr. Wright guilty. He ordered him to pay half of the BTC, valued at approximately $ 5 billion at the time of the trial, to Mr. Ira. Wright told the court that he and the late Dave had locked that bitcoin into a complicated trust. He said he could no longer recover the cryptocurrency.

However, in an interview he later gave to Modern Consensus, Mr. Wright continued to theorize what Mr. Ira could do if he gained access to 1 million BTC.

    “They may have to convince Ira not to throw it away,” he told the interviewer. “I can’t convince him not to throw it away. Ira has to do what Ira has to do. And it wouldn’t have been me. And I don’t need it. He does.”

Not a penny paid to Ira Kleiman

Wright never refuted the existence of the trust that apparently owns 1.1 million BTC. However, he is adamant about not having access to the “private keys” of those currencies.

With a court order hanging from its neck, the market doubts that Wright can sell any bitcoin he currently has (supposedly a large amount). After the court’s decision against him, he proclaimed that only Ira could destroy the bitcoin market by $ 2-3 billion.

    “If you had left me alone, I would have sat down with my damn money and you wouldn’t have to worry,” Wright said. “And the biggest whale has to get rid because it has to pay taxes. It is not a transfer. Florida has an estate tax. Trust me. This is not a result that I would have liked. “

But to date, Mr. Wright has not paid a penny to Mr. Ira or his legal advisors, as ordered by the United States court. At the last hearing held on December 18, Mr. Wright’s lawyers were offended by Mr. Ira, questioning how he managed to pay $ 400,000 in cash for his house right after his brother’s disappearance.

Bitcoin Fortune Under Mugs

When Mr. Wright threatened to block Bitcoin at $ 1,000 in November 2018, it seemed he had a lot of cryptocurrencies. But since the court ruling, he is not making such threats.

In his last interview with Bloomberg, Wright said he doesn’t want to get rid of his Bitcoin fortune because the measure “would harm many people in the industry.”

The sum of all the events leaves the market with two potential outcomes: either Mr. Wright has about $ 3 billion in Bitcoin or he doesn’t have it. If the controversial Satoshi has the money, he is lying about not having them. And if he doesn’t have the money, he’s lying directly.

The conclusion comes down to one thing: after all, a $ 3 billion dump is not going to happen. One bear at a time!


Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *