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Alleged Inventor Of Bitcoin Wins Lawsuit Vs. Former Partner

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Double exposure of creative Bitcoin symbol hologram | Alleged Inventor Of Bitcoin Wins Lawsuit Vs. Former Partner | featured

The alleged inventor of Bitcoin won a civil suit against his former business partner. This means that Craig Wright, the inventor of Bitcoin, won’t have to shell out half his 1.1 million cryptocurrency units worth $54 billion.

RELATED: Get to Know About the Bitcoin Malpractices That Exist

Inventor Of Bitcoin Gets To Keep His Cryptocurrency

Bitcoins are placed on the background of a pile of Bitcoins | Inventor of Bitcoin

Craig Wright, a computer scientist who claims he is the inventor of Bitcoin, won a civil trial verdict against the family of David Kleiman, his deceased business partner.

Kleiman’s family wants Wright to fork over half his fortune. They claim half of the bitcoins belonging to Kleiman. 

A Florida jury found that Wright does not owe half of 550,000 bitcoin to David Kleiman’s estate. However, the jury also awarded $100 million in intellectual property rights to a joint venture between the two men.

This payment represents a fraction of what Kleiman’s lawyers asked for during the trial. 

Kleiman’s Family Insists That He Co-created Bitcoin With Wright

Andres Rivero, Rivero Mestre LLP lawyer for Wright, welcomed the decision. “This was a tremendous victory for our side,” he said.

Kleiman died in April 2013 without resolving his dispute with Wright. His brother, Ira Kleiman, led claims that David and Wright co-created Bitcoin through a partnership. 

In particular, the item in dispute is 1.1 million bitcoins. Currently valued at $54 billion, the 1.1 million units are among the first ones created through mining. As such, these cryptocurrencies can only come from persons or groups that adopted bitcoin earliest. This includes the alleged creator of bitcoin, the man or group named Satoshi Nakamoto. 

Is it Wright Sakamoto?

The relatively mysterious origins of Bitcoin helped draw attention to the trial. Internet sleuths have yet to establish the real identity of Nakamoto.

In fact, many pioneers never considered Sakamoto as the real name of the inventor of Bitcoin. Over the years, Wright claimed that he is none other than the elusive Nakamoto.

His victory over Kleiman’s estate firmly establishes his ownership of the 1.1 million bitcoin. It also helps bolster his claim of being the inventor of Bitcoin. 

The Miami trial to establish Wright’s bitcoin ownership featured highly technical presentations. In fact, the jury had to listen to detailed explanations of how cryptocurrencies work and how Bitcoin came into circulation.

As a result, jurors took a full week to deliberate. They also took their time repeatedly asking questions to both team’s lawyers and to the judge. At one point the jurors signaled to the judge that they were deadlocked.

Mysterious Origin and Inventor Of Bitcoin

Meanwhile, many members of the cryptocurrency insist that Wright is not Nakamoto. Bitcoin transactions are largely transparent.

Wright’s 1.1 million Bitcoin hoard remains untouched until this day. In fact, many crypto enthusiasts openly asked Wright to move just a fraction of the coins into a separate account to prove his ownership. It can also prove his claim to be the mysterious Nakamoto. 

As a result, Wright and other cryptocurrency experts had to testify under oath that he owns the disputed 1.1 million Bitcoins. In addition, Wright also said he would prove his ownership soon as he wins the trial. 

Watch the Valuetainment Television video reporting why Craig Wright is the only person who can be Satoshi Nakamoto:

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