Bitcoin SV (BSV) Value Rose to a Multi-Week High of $46 Despite Its Founder, Craig Wright, Being Forced to Admit That He Is Not Satoshi Nakamoto

BSV's gain comes as a surprise amid its founder's legal woes.

Bitcoin Satoshi Vision (BSV) price hit a weekly high despite its founder Craig Wright being forced to admit that he is not Satoshi Nakamoto, the pseudonymous founder of the original Bitcoin network It rose to $46.

As of press time, the overall market is in an upward trend, according to CryptoSlate data, with BSV trading at $45.16, up nearly 20% over the past seven days.

However, the token is still more than 90% of its peak in dollar terms. It's trading below and approaching its lowest ever value against Bitcoin.

BSV continues to attract retail interest despite these challenges, particularly from South Korean investors, who account for about 10% of trading volume, according to CoinMarketCap data.

Wright 's Legal Problems

BSV's gain comes as a surprise amid its founder's legal troubles. On July 16, Wright prominently displayed a disclaimer message on his website denying any connection to Satoshi Nakamoto and acknowledging that the court had identified his deceptive actions. It found that Wright had 'extensively and repeatedly lied to the Court' in his statement and had attempted to create a false narrative by producing documents 'on a massive scale' which he presented to the court as evidence. As a result, 'all his lies and fake documents were to support his claim that he was the inventor of Bitcoin, which was his biggest lie.'”

The Australian computer scientist also pinned a similar message on his official account on social media platform X on July 17.

The disclaimer follows a recent decision by the UK High Court of Justice aimed at preventing Wright from continuing his litigation campaign and threats based on his claim to be the inventor of Bitcoin. The judge also referred the case to the Crown Prosecution Service for possible perjury charges.

The crypto community largely welcomed the UK court's decision, seeing it as a significant consequence of Wright's long history of false claims.

Castle Island Ventures Nic Carter, a venture capitalist at He was completely humiliated and destroyed. It feels incredible.”

Bitcoin SV Market Data

As of press time at 6:01 UTC on July 17, 2024, Bitcoin SV is ranked 77th by market cap and its price is down 0.36% in the last 24 hours. Bitcoin SV has a market cap of $887.79 million and a 24-hour trading volume of $41.38 million. Learn more about Bitcoin SV ›

Bitcoin SV

$45.00

Crypto Market Summary

As of press time at 6:01 pm UTC on July 17, 2024, the total crypto market cap was $2.35 trillion and the 24-hour Its volume is 85.33 billion dollars. Bitcoin dominance is currently 53.90%. Learn more about the crypto market ›

Mentioned in this article

Oluwapelumi Adejumo

Oluwapelumi believes in the potential of Bitcoin. He imparts his insights on a variety of topics, including DeFi, attacks, mining, and culture, and highlights the transformative power.

Assad Jafri

A passionate journalist since Yemen's 2011 Arab Spring, AJ has gained over a decade of experience around the world. Specializing in financial journalism, AJ is currently covering crypto news

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