The image is by Alex Castro.
A jury has decided that Craig Wright won't have to give up half of his huge amount of digital currency. If the court had ordered him to transfer those Bitcoins, it would have generated a lot of buzz in the community.
If the name of the man is ringing a bell, that is because the original document that described how the digital currency would work has the name of the man on it. We don't know if it was one person or a group of people, but the identity of the person who created the currency has never been proven. Many experts agree that Wright hasn't provided any evidence to prove he's Satoshi.
It is difficult to prove that a pseudonymous currency is owned by a person.
It is difficult to prove that a pseudonymous currency belongs to a person, but it is thought that only the inventor of Bitcoin could have done such a thing. The first coins to be mined on theBitcoin were some of the first coins to be mined on a home computer.
The case started in the year of 2018, when Wright was sued by a deceased former colleague's relatives. The relatives argued that Dave Kleiman helped Wright invent thecryptocurrencies and that the estate was entitled to half of the Satoshi stash.
The trial was being watched to see if Wright would be called to testify.
The court case drew attention because it was certain that Wright didn't create the coin, and there was a chance that the court might make him prove that he owned the coins.
We didn't get any moments where Wright was asked to prove he was Nakamoto, despite the judge calling Wright a liar and accusing him of trying to use forged documents as evidence. The yearslong litigation in Florida has done little to quiet the skeptics, even though Wright claims the trial proved he invented Bitcoins.
The jury wasn't asked to determine if Wright was actually Nakamoto. The job was to determine if Wright and Kleiman had a business relationship that would entitle the Kleiman estate to any fortune Wright may have made if he actually did invent Bitcoins.
Wright owes $100 million in currency.
The jury ordered Wright to pay $100 million to W&K Info Defense Research, a company he started with Kleiman, and the jury says he violated the intellectual property rights of the company. If we see a stack of Bitcoin moving from the addresses widely attributed to Nakamoto, it could prove what the courts didn't. According to reports, Craig will donate most of his money to charity now that he has won.
It is almost impossible to imagine what would happen to the price of Bitcoin if that happened. A market meltdown in May 2020 caused by the move of 50 of the 2009-vintage Bitcoin that Wright claimed were his knocked the market cap of the BTC down to $6.5 billion. Imagine if some of the 1.1 million BTC were to be sold in a single transaction, and that would have an effect on the price of the coins. Watching the stock ticker would be crazy.
