High Court calls Craig Wright’s Bitcoin claims a brazen lie

Craig Wright came out in 2016, claiming he was Satoshi Nakamoto, the one to invent Bitcoin. The crypto community has been skeptical about it since then, and the real face behind the pseudonym remains unknown. The Crypto Open Patent Alliance, also known as COPA, has filed a case to seek a ruling that the computer scientist is not what he claims to be.

The High Court found Craig’s claims false and said they are a brazen lie. Jonathan Hough KC represents a group of cryptocurrency exchanges and developers. He has been their voice to the media, with the recent statement clarifying that the Court has found it to be an elaborate false narrative.

A negative declaration on the claim would make it official that the actual inventor is still mysterious. Hough has said that there is an alleged use of ChatGPT to create forged documents. However, one fact that has cemented their side is that Satoshi Nakamoto drafted the original white paper on OpenOffice software, while Craig’s white document was created on LaTeX.

The representative has further said that Wright has constantly failed to present genuine proof of his claim, adding that Craig has only put forward documents that have signs of being doctored. Craig’s barrister has issued a statement to counter Jonathan’s words.

Lord Grabiner KC has said that Craig released a white paper only after studying and working on the concept behind the technology, Bitcoin. Grabiner further said that Wright has an unusual combination of talents in different disciplines and extensive experience in the field. Also strengthening this is their statement that if anyone else was Nakamoto, then they or their representatives would have come forward.

The case is being looked at carefully since Satoshi’s personal wallet is said to have 1.1 million tokens. Satoshi mined these, and they are currently worth about $47 billion. This roughly translates to £37.5 billion.

COPA’s position is reinforced because Craig has failed to generate the private keys necessary to access these tokens.

Moving forward, the case is expected to conclude in the next month. Craig Wright is expected to hand over the evidence to Mr Justice Mellor this Tuesday.

That said, Bitcoin remains under speculation of reaching $50,000 in the days to come. The token is currently exchanging hands at $42,970.81. It momentarily surpassed the milestone of $43k at the time of drafting this article, but it is now back on lower ground. Bitcoin halving has a lot of expectations, with many believing that cutting the mining rewards and restricting the supply of tokens would follow a historical trend of upticking the trading value.

As BTC’s value shows where it moves on the graph, the same will be revealed in the coming month when Craig Wright and COPA reach the end of the tunnel.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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