Craig Wright, the self-proclaimed inventor of Bitcoin, has filed an astonishing £911 billion claim against Bitcoin Core developers and Square Inc. Wright, who has long claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin, alleges that the Bitcoin Core team has misrepresented the true nature of Bitcoin.
This, he claims, has led to significant financial losses for him and his vision for Bitcoin SV (Satoshi Vision), which he launched in 2018. Bitcoin SV, according to Wright, is the "real" Bitcoin, adhering to the principles laid out in the original Bitcoin 2008 whitepaper.
According to Wright, Bitcoin should operate as a decentralized electronic cash system, not as a speculative asset or institutional tool.
In his legal filings, Wright does not employ a legal team, instead representing himself as a litigant. Given the complexity of the case, this decision to go solo in such a monumental legal battle has raised eyebrows in the legal community.
Craig Wright’s Controversial Legal History
Wright’s lawsuit follows a pattern of aggressive legal action tied to his claim of being the real Satoshi Nakamoto. Earlier this year, he lost a lawsuit against COPA (Crypto Open Patent Alliance), where his claim to the identity of Satoshi Nakamoto was dismissed by the UK court.
In this latest case, Wright is representing himself, a risky move given the complexity of the case and his troubled legal track record. Despite facing multiple legal defeats, Wright remains persistent in his attempts to reshape the narrative around Bitcoin.
In public statements, Wright has repeatedly emphasized that this lawsuit is not about proving his identity as Satoshi Nakamoto but about protecting the integrity of Bitcoin’s original design.
The Impact of the £911 Billion Claim
This £911 billion claim, if successful, could have massive implications for the cryptocurrency market. The lawsuit not only seeks financial compensation but also aims to challenge the dominance of Bitcoin (BTC) by asserting that Wright’s version, BSV, is the legitimate continuation of Satoshi Nakamoto’s vision. Wright’s legal action could alter the way Bitcoin is perceived and potentially trigger a re-evaluation of the decentralized nature of blockchain governance.
However, many are skeptical of Wright’s chances. His decision to proceed without legal representation complicates the case, as previous court rulings have not gone in his favor. In one of his earlier legal battles this year, Wright lost a case against the Crypto Open Patent Alliance (COPA). This past defeat only adds to the challenges he faces in the current lawsuit.
Despite these setbacks, Wright remains undeterred, continuing his pursuit of what he views as the rightful claim to Bitcoin’s future. He even hinted at additional lawsuits against high-profile Bitcoin proponents, including Michael Saylor of MicroStrategy, accusing them of misrepresenting Bitcoin.
Final Notes
Craig Wright’s £911 billion claim is another chapter in the ongoing saga of his attempts to cement his role in Bitcoin's history. Whether or not this latest legal battle will succeed is unclear, but one thing is certain: Wright is not backing down from his fight over the future of Bitcoin.