The lawsuit of the Australian who says he invented bitcoin has stuck the world of crypto

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Cryptocurrency enthusiasts may be disappointed if they expect a three-week trial in Miami federal court to finally establish the true identity of Satoshi Nakamoto, the pseudonymous creator of bitcoin. But curious people will nonetheless be drawn to Australian computer scientist Craig Wright, the self-proclaimed inventor of bitcoin, defending himself against allegations that he defrauded a deceased man’s estate in Florida from his share of some $ 65 billion ( $ 86.4 billion) of peer-to-peer currency and intellectual property related to blockchain technology is worth billions of dollars more.

Dave Kleiman’s brother, who died in 2013, alleges that the late computer scientist collaborated with Wright on the early development of bitcoin and that the domain is entitled to half the value of a 1.1 million bitcoin cache, from valued at $ US62,545 each as of October 29, which is believed to be held by Satoshi. That this hiding place can still be recovered is by no means guaranteed.

Craig Wright claims to have invented Bitcoin. Credit: BBC News

Some prominent cryptocurrency entrepreneurs and investors see Wright as a fake and believe Satoshi’s enduring anonymity is part of the genius of bitcoin – a competitive edge for an innovation that has caught the attention and wrath of countless governments. Wright maintained his demand, even pursuing critics who called him an impostor.

Yet the Kleiman case is not primarily about whether Wright really is Satoshi. The issue in the lawsuit, which begins Monday (U.S. Time) with jury selection, is whether a business partnership existed between Wright and Kleiman prior to the latter’s death.

Wright is certainly “a major cryptocurrency pioneer and is also rich in cryptocurrency,” said Aaron Brown, a crypto investor who also writes for Bloomberg Opinion. “Beyond that, his claims to be the primary or sole author of the original bitcoin white paper have little support.”

Despite skepticism, crypto fans will follow the lawsuit for any clues. Speculation on Satoshi is a favorite pastime in the crypto community, and last month even venture capitalist Peter Thiel joined in, speculating that the real Satoshi was on the same beach as him in Anguilla in February 2000. Whoever Satoshi is, he or she probably has access to enough bitcoin to significantly influence the market.

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The Kleiman estate complaint against Wright was first filed almost three years ago, but the case has experienced delays due to the COVID-19 pandemic.

Emails in court files show the men had a simpatico relationship – in one message Wright called Kleiman his “best friend” – but Kleiman’s brother Ira will try to prove they had a business partnership .

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