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Legal fight for cryptocurrencies in Miami involves 69,000 million dollars

Bragging rights and more than $ 69 billion are at stake in a cryptocurrency court battle taking place in Miami. Legal arguments began Monday in a lawsuit that could (possibly) establish who was the true creator of Bitcoin and who has rights to Satoshi Nakamoto’s 1.1 million BTC wallet, Fortune reported. The civil lawsuit between Ira Kleiman […]

Por Allan Brito
Legal fight for cryptocurrencies in Miami involves 69,000 million dollars
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Bragging rights and more than $ 69 billion are at stake in a cryptocurrency court battle taking place in Miami.

Legal arguments began Monday in a lawsuit that could (possibly) establish who was the true creator of Bitcoin and who has rights to Satoshi Nakamoto’s 1.1 million BTC wallet, Fortune reported.

The civil lawsuit between Ira Kleiman and Craig Wright seeks to establish who was the real person behind the pseudonym of the founder of Bitcoin. Wright, an Australian computer scientist, has made his claim since 2016, but Kleiman says his late brother David, a friend of Wright’s, was the co-creator and is entitled to a share of the Bitcoin nest.

Considering Bitcoin prices early Tuesday morning, the portfolio’s holdings would make its holder the 15th richest person in the world (assuming he started out with no net worth), according to the Bloomberg Billionaires Index. That amount is more than the net worth of the Walton family members, Carlos Slim and Charles Koch.

Kleiman alleges that his late brother David collaborated with Wright on the creation and initial development of Bitcoin, so his heirs are entitled to half of the wallet’s contents.

Although Kleiman tries to claim a portion of Wright’s funds, crypto experts are highly skeptical that Wright is, in fact, Satoshi Nakamoto. He has yet to publicly demonstrate that he has access to Nakamoto’s wallet, which only encourages his detractors. And there are older allegations that the evidence you provided was fraudulent.

This raises a question: If Kleiman wins the case and but Wright does not Satoshi (or has lost access to the wallet), will Kleiman still be unable to access Bitcoin at the center of the dispute?

The Miami case, at heart, is not about Satoshi’s identity. Instead, it’s about the business partnership between Wright and Kleiman and whether they were, in fact, partners or just friends.

The jury trial is expected to last three weeks.

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