Why “Bitcoin Creator” Craig Wright Came Out Ahead Despite Having To Pay $100 Million

On Monday, it was determined by a Miami court that Craig Wright, the alleged creation of Bitcoin, would pay $100 million in damages to David Kleiman, Wright’s partner. This judgment ended a long and complicated case that had been dragging on for nearly a year. Wright didn’t appeal this judgment, as the computer scientist thought it was fair.

Wright claimed that the judge’s decision solidifies Wright’s claim as the original Bitcoin creator. This is something Wright has been claiming for some time. Wright was ordered to pay the $100 million to the heirs of David Kleiman who claimed the late computer scientist’s estate was entitled to half of the 1.1 million BTC mined by Satoshi Nakamoto.

Similar Reading: Despite red Bitcoin, OnChain Signals Turn Green| Despite Red Bitcoin, On-Chain Signals Flip Green

Wright Could Have Been Here First

A key fact in this story is that Wright might actually be Satoshi Nakamoto. The computer scientist could be the owner of the 1 million BTC mined in the creator wallet, which was created after the Bitcoin blockchain launched. The bitcoins contained in this wallet are worth an estimated $70 billion, of which Kleiman’s heirs claimed to be entitled to half of this.

With $70 billion in tow, the $100 million ordered by the courts to be paid to Kleiman’s estate is only a drop in the ocean for Craig Wright. The entrepreneur could have won the case, but only paid a fraction of Kleiman’s share of BTC. Wright would be able to keep $70 trillion.

Bitcoin price chart from TradingView.com

BTC drops to $48K | Source: BTCUSD on TradingView.com

Kleiman, who died in 2013, at 46 years old was close to Craig Wright. Wright is alleged to have created Bitcoin with Kleiman. Kleiman’s family credits Craig Wright with the invention of bitcoin blockchain technology.

“Bitcoin Creator” Happy With Jury Verdict

Craig Wright, the founder of Bitcoin has been involved with lawsuits for years. Wright claimed numerous times that he has created Bitcoin, but nobody in the space took Wright seriously. He has even been called an impostor. The alleged Bitcoin creator insists that the jury verdict has finally acknowledged Wright as its creator.

Goldman Sachs CEO Sidesteps Bitcoin Inquiries, Says Blockchain Is More Important| Goldman Sachs CEO Sidesteps Bitcoin Inquiries, Says Blockchain Is More Important

Wright said that the jury found him to have created bitcoin. He would therefore not appeal this decision in a statement he made following the trial. He also expressed relief at the verdict, saying, “I have never been so relieved in my life.”

Wright insists that he claims to be Satoshi Nagamoto but denies the claim that Kleiman created the cryptocurrency. He said the claims being made by Ira Kleiman on behalf of Dave Kleiman’s estate were false, adding that there is no paper trail that shows evidence of a partnership between them.

Wright would not admit where about 1.1 BTC are. He has been cautious not to speak about his bitcoin stash. It remains to be confirmed whether Wright ever owned the bitcoins.

Featured image by CryptoPotato. Chart on TradingView.com

Get more Crypto News at CFX Magazine