Will Craig Wright Become a Billionaire with His 1 Million Bitcoins or Finally Shut Up?

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by Teuta Franjkovic · 3 min read
Will Craig Wright Become a Billionaire with His 1 Million Bitcoins or Finally Shut Up?
Photo: Pxhere

Australian businessman Craig Wright submitted an email to the court, according to which on January 1, 2020, he will receive private keys for wallets with 1.1 million Bitcoins.

Can you believe it? Next week self-claimed Bitcoin inventor Craig Wright could become richer than ever. If the rumors are correct, he is set to get access to more than 1 million Bitcoins. Of course, the crypto community has been quite eager to see whether this fake Satoshi Nakamoto will do what he has promised. With more than $8 billion of Bitcoin worth, these unlocked Bitcoins could flood the entire crypto market.

We reported a lot about the interesting person of his, especially during the last year. What we know for now is that this chief scientist at nChain and chief defender of BSV has been leading edge of crypto news from 2018. Still, it seems that faketoshi could stop being one of the crypto biggest drama characters already at the beginning of next year.

But, let us remind you of some key happenings here. We already reported that Wright has been entangled in a big legal battle with the estate of his former partner Dave Kleiman. With Kleiman, if it’s to believe Wright, he mined more than 1 million Bitcoins in the cryptocurrency’s early days.

Judge: That Doesn’t Impress Me Much

In August Kleiman Estate won while the judge said Wright argued in bad faith. Not just that, but Wright even admitted that he gave false evidence and that he cannot provide no more evidence that would prove he, indeed, is one of the original Bitcoin creators.

Judge Bruce Reinhart said back in August:

“During his testimony, Dr. Wright’s demeanor did not impress me as someone who was telling the truth.”

Kleiman Estate, therefore, won the rights to half of the fortune they mined, worth more than $8 billion today. However, if he delivers the keys to trust until the end of the year, Wright could become the owner of 1.1. million Bitcoin, worth more than $8 billion at the time of the press.

Bitcoin SV community is pretty much bracing for a crypto revolution under their (Wright’s) guidance but there are still skeptics who keep pointing out some really suspicious holes in the whole story.

Satoshi – the Smallest Amount of Bitcoin?

There is one evidence though that might support Wright’s claims. There is an email in which it is written that Kleiman became the sole trustee for 1.1 million bitcoins he received from Wright. The funds, worth $100,000 at the time, were to be put in a trust managed by “at least three people but not more than seven at any time,” it said in the email.

But again, the originality of the email has been challenged as well. One of the words that have been used in the mail was the word: “satoshi”. This phase was first used back in 2013 during an insider discussion on what name to give to the smallest amount of Bitcoin.

Also, we shouldn’t forget that, when testifying, Wright mentioned he gave instructions to Kleiman explaining to him how to appoint a courier, but he never explained whether one was hired or not.

Even though we are aware that the possibility that Craig Wright is telling the truth is equal to the one of Donald Trump being exiled from the White House, we are still waiting for January 1. It will for sure become an incredibly important date for the crypto industry with BSV taking a huge hit, and the rest of the market firming up a bit.

Bitcoin News, Cryptocurrency news, Editor's Choice, News
Teuta Franjkovic
Author: Teuta Franjkovic

Experienced creative professional focusing on financial and political analysis, editing daily newspapers and news sites, economical and political journalism, consulting, PR and Marketing. Teuta’s passion is to create new opportunities and bring people together.

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