Craig Wright Refuse Moving 50 BTC, Now In Catch-22 Situation
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Craig Wright Refuse Moving 50 BTC, Now In Catch-22 Situation

May 21, 2020      Jyoti Singh

Craig Wright who claims himself to be the developer of Bitcoin, Satoshi Nakamoto, refused to move the 50 BTC from an address which has been inactive for a long time, unveils the billionaire supporter of Bitcoin SV, Calvin Ayre.

Most of the people in the crypto space believed that the inactive address belongs to the founder of Bitcoin.

50 BTC Transferred From Dormant Account

On May 20, a total of 50 BTC worth around $486,000 have been moved by the unknown party, from that account which has kept that 50BTC since the year 2009.

Recently, Adam Back of Blockstream has tweeted about this movement of Bitcoin, and in response, Ayre claimed that he talked to Wright regarding the activity but the Australian Computer Scientist has confirmed it was not him (Wright).

It is to be noted that the account 17XiVVooLcdCUCMf9s4t4jTExacxwFS5uh, from which the coins have been moved, is one of those 16000 accounts which Wright claims as his own in the Kleinman vs. Wright case.

Now the situation is a bit troublesome for Wright because earlier during the hearing when he was asked about the private key to the addresses, he refused to have access to it. That means if by any chance Wright would have moved the 50 BTC from the account then he will be in legal trouble. 

If someone else has shifted the coins then it would be proved that he is not the founder of Bitcoin and the addresses do not belong to him. Currently, Wright is in Catch-22 situation.

Craig Wright Credibility Being Questioned

According to reports, what Ayre claims about Wright is true then the latter might face some serious difficulty in his trial.

On several occasions, the judge in Kleinman vs. Wright case has questioned the reliability of Wright.

When 50 BTC was moved from the dormant wallet most of the crypto enthusiasts in the community thought that Nakamoto is back, it happened before Ayre commented about the movement on twitter.

Although the dormant wallet was not linked with the creator of Bitcoin, still the price of Bitcoin drop by 5 percent after the recent activity which took place after 11-years. As 50 BTC movement news broke in the market the price fall to $9,400 from $9,700.

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#50 BTC #Adam Back of Blockstream #Bitcoin SV #Calvin Ayre #Catch-22 situation #Craig Wright #Kleinman vs. Wright case #Satoshi Nakamoto
Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.