In the last couple of hours, Bitcoin SV has hit an all-year high after rallying by as high as 120%. The gains come hours after the founder, Craig Wright, registered the copyright to Satoshi white paper and the original 2009 code. While this seemed like an ambitious venture for Wright, it seems to have paid off handsomely for Wright and <a href="https://www.cryptoknowmics.com/crypto/bitcoin-exceeds-predicted-hash-rate-value-as-bull-market-rages/">Bitcoin</a> SV holders.

A few weeks ago, Craig Wright argued that he was the real Satoshi Nakamoto, triggering an explosive reaction from around the community. This claim not only saw his name become a talking point for many but also saw Bitcoin SV deregistered from several platforms and prices plummet.

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How Significant Is This Registration?

Surprisingly according to analysts, this does not imply ownership or represent an official patent. The copyright registration is thus far only of importance in a lawsuit argument. Jerry Brito, an executive director at Coin Center, <a href="https://twitter.com/jerrybrito/status/1130812389048238080">stated this about the registration</a>:
<blockquote>"Registering a copyright is just filing a form. The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately, there is no official way to change registration. If there are competing claims, the Office will just register all of them."</blockquote>
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Bitcoin SV Price Update

At the time of press, Bitcoin SV has soared to around $105, signifying a 72% rise in the last 24 hours. The $105 price is not the highest price the coin has achieved in the last couple of hours having climbed to as high as $139. The $139 position now becomes the coins all-year high. This initial response comes as no surprise given many of the traders are speculators and might just not fully comprehend what the registration signifies.

In the coming hours, the coin will begin to slow down and see prices probably drag back to just below $100. In the coming days, a huge correction is expected that could easily see prices go back to the original $60 position where it had been trading within for the last couple of days.

Bitcoin SV Surges to Double Its Price Following Craig Wright's Copyright Registration of Bitcoin’s Whitepaper and Original Code

John is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

Bitcoin SV Surges to Double Its Price Following Craig Wright's Copyright Registration of Bitcoin’s Whitepaper and Original Code

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