Bitcoin Health May Depend on Lawsuit in Norway

Hodlonaut, a pseudonymous bitcoiner who is the editor of Bitcoin magazine Citadel21, registered a case on businessman Craig S. Wright, who continuously claimed himself as the creator of the most popular and largest cryptocurrency, Bitcoin. The case gained the limelight when Hodlonaut defamed Wright, calling him a “Fraud” and “Scammer.”

On Tuesday, during his opening statement, Halvor Manshaus, the defending lawyer Wright informed the court that establishing Wright’s ownership of Satoshi’s private keys- a move many of Wright’s doubters would settle the years-long argument over his claims- isn’t enough.

Manshaus informed the court that “Craig Wright is of the perception that to sign … with the private key, one block or the other … is not conclusive evidence of whether he is Satoshi or not.” adding more, he said, “It’s never one thing, or the other is sufficient, you need several elements, you need the whole package.”

Manshaus also read numerous excerpts from Andrew O’Hagan’s 2016 article “The Satoshi Affair” to show that not feeling like cryptographic evidence would be enough to silence his critics. Wright has also struggled emotionally with the burden of “proving” his identity as Satoshi.

Hodlonaut highlighted on his Twitter account that “This community campaign aims to make sure my fight is brought to its successful conclusion, with court judgments that effectively put an end to any further bullying of bitcoiners, developers, and companies.”

Earlier in 2020, Craig Wight filed a document of 428 pages with some confidential document “Tulip Trust III.”

It is believed that the final judgment on Hodlonaut and Wright lawsuit may affect the price and market cap of Bitcoin. Although it is also assumed that downtrend in Bitcoin prices is somehow directly or indirectly affected by a lawsuit.

According to data from CoinMarketCap, While writing this article, Bitcoin is trading at $20,288.11 with a total market cap of $388,925,951,328.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing