Bitcoin SV (BSV) Price Rallies on Craig Wright’s Claims to Bitcoin Authorship
The asset, thinly traded on niche exchanges, grew by more than 100% in the past day, boosted by the claims of Craig Wright that he is the author of the Bitcoin white paper.
Bitcoin SV (BSV) broke out with a sudden rally, doubling its price, on news that Dr. Craig Wright managed to file copyright over the Bitcoin white paper and claim authorship. The larger Bitcoin community, however, does not see this as evidence that Wright is, in fact, the real person behind the Satoshi Nakamoto pseudonym.
BSV rallied from its usual range around $55, going parabolic on record volumes and marking a peak late on Tuesday at $139.31. Trading volumes posted a record, exceeding $1 billion in 24 hours. This development is a surprise for BSV, especially after being delisted from a handful of major exchanges and services, including Binance and Kraken.
The slack has been taken up by the Dcoin exchange, an up and coming market operator, with additional activity on OKEx and UpBit. BSV has a 50% component of trading happening against Tether (USDT), allowing for direct dollar-like price speculation. The asset is still far from its peak above $187.
As for the claims of Wright, those are not viewed as solid evidence, since over the years, there have been no proven usages of any private keys potentially belonging to Satoshi Nakamoto. The Bitcoin white paper has existed on Bitcoin.org since its publication in late 2008, and was translated in multiple languages. It is unknown if Wright would have any claims on the dissemination and copying of the document.
The Coingeek blog, however, one of the greatest BSV supporters, sees Wright’s claims as solid evidence. Wright himself went with a lengthy blog post, detailing his early Bitcoin-related business. What is extremely strange is that he talks of putting his BTC in custody with third parties, and losing access to some of the coins. However, this goes counter to the principles of being responsible for one’s own private keys.
Wright has been known for publishing a series of patents related to blockchain usage, but even this is not viewed as conclusive evidence he was the founder of the first peer-to-peer electronic cash system.
The personality of Satoshi Nakamoto has been scrutinized over the years, going as far as to perform language patterns analysis. The best guess is that Nakamoto is a collection of individuals. So far, no one has been able to move the coins in the early wallets, which were most probably earned as block rewards in early 2009, when only Nakamoto mined on the network.