- Bitcoin SV is now the fourth digital currency by market cap
- The surge in price coincides with Craig Wright’s lawsuit
- Wright is been sued by the brother of his former partner
Bitcoin SV News Today– Bitcoin SV (BSV) is now the fourth largest digital asset by market capitalization. This surge in price comes after the digital asset endured a turbulent day. This was followed by the coin’s value rising against the USD by 100% to reach peak position on Tuesday, January 4, 2020. The price of Bitcoin SV hit a 24-hour high price of $441.20 on said day taking its gains to $100.
Change in Fortunes for BSV Coincides with Lawsuit against Craig Wright
The huge surge in value for Bitcoin SV comes following fresh developments in the lawsuit against crypto commentator Craig Wright. The self-proclaimed Bitcoin creator is a very big supporter of Bitcoin (BSV). Wright says he can access a huge trove of Bitcoin holdings. The computer scientist is being sued by the brother of his deceased partner Ira Kleiman. Wright has been sued for the alleged misappropriation of the one million BTC that was formerly held jointly by Wright and his dead partner. According to Wright the cryptographically locked Bitcoin was inaccessible. A private key can unlock it.
The sitting judge Beth Bloom gave Wright at least February 3 to gain access to the $9.2 billion worth of BTC which according to Wright was held in a “Tulip Trust.” A Tulip Trust is an encrypted document used to store the keys to the funds that Kleiman and Wright mined together. The latter claimed a “bonded courier” with the keys to unlock the Tulip Trust would come this month. On Tuesday, Wright filed a notice of compliance. According to him, the third party had given him the information he required to unlock the file. He also claims that he has given Kleiman’s side a list of his holdings in Bitcoin.
The Plaintiffs Were Unsatisfied with Wright’s List
The plaintiffs responded in a counter filing and claimed that they were not satisfied with Wright’s list. Kleiman’s lawyers said:
“The document provided by wright is just a list of about 16,404 addresses. He did not produce any information on the bounded courier, the company they worked for when they came, or the message they delivered. The plaintiffs also request that wright gives them seven interrogatories about the courier. Plaintiffs will use these responses to seek discovery themselves from the bonded courier and his firm. In the main time, the Plaintiffs have brought in their experts to review and analyze the list provided by the defendant. Plaintiffs are optimistic about deposing Wright after they conclude this discovery, in early March.”
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
