Craig Wright has launched a new lawsuit against Bitcoin Core developers, demanding a staggering $1.18 billion in damages.
This legal action comes after the UK High Court dismissed his claim of being Satoshi Nakamoto, the mysterious creator of Bitcoin.
Now, Wright is alleging that the developers behind Bitcoin Core have misrepresented Bitcoin Cash (BTC) as the original Bitcoin while asserting that Bitcoin SV (BSV) aligns more closely with Nakamoto’s true vision.
The massive damages claim—approximately £911 billion—stems from the market valuation difference between Bitcoin and Bitcoin SV.
Currently, Bitcoin is valued at around $68,000, whereas Bitcoin SV trades at about $51.58. Wright argues that updates like SegWit and Taproot have altered Bitcoin’s original design, confusing investors and distorting market perceptions.
This lawsuit marks yet another chapter in Wright’s ongoing legal battles, many of which revolve around his controversial claim of being Bitcoin’s inventor.
The UK High Court has already dismissed Wright’s previous assertions of being Satoshi Nakamoto as unsubstantiated, and prominent figures in the crypto space remain sceptical of his current legal action.
One of Wright’s critics, known as Hodlonaut, called this lawsuit more of Wright’s “delusional legal antics,” following his successful defamation case against Wright in Norway.
The Coalition of Bitcoin Developers (COPA) also predicts that this new legal challenge will fail, much like Wright’s earlier attempts to prove his identity as Nakamoto.
Wright’s latest move is likely to deepen the divisions within the cryptocurrency community, with many viewing his legal manoeuvres as efforts to reshape Bitcoin’s narrative to suit his interests.
