Craig Wright, the Australian computer scientist who controversially claims to be the creator of Bitcoin, Satoshi Nakamoto, is back in the spotlight.
Wright has filed a massive lawsuit in the UK against Bitcoin Core developers and the Bitcoin payment service provider Square, demanding an astonishing £911 billion.
This legal action, which was revealed on October 10, 2024, is the latest in a long series of lawsuits involving Wright, and it centers on the integrity of Bitcoin and its original vision.
The heart of the lawsuit revolves around Wright’s allegation that Bitcoin Core developers and Square have misrepresented Bitcoin (BTC) as the true version of the digital asset created by Satoshi Nakamoto.
Wright claims that his own creation, Bitcoin SV (BSV), which he launched in 2018 under the banner of “Satoshi Vision,” is the real Bitcoin. The legal claim suggests that by representing BTC as the legitimate continuation of Bitcoin, the defendants have caused significant financial harm.
Wright’s lawsuit seeks £911 billion in damages, accusing Bitcoin Core and Square of straying from Bitcoin’s original design principles, which he insists were meant to facilitate small, peer-to-peer transactions, rather than serving the interests of powerful financial institutions.
In his public statements, Wright has been clear about his belief in what Bitcoin should be. He has consistently argued that Bitcoin, as conceived by Satoshi Nakamoto, was meant to be electronic cash for small, everyday transactions.
“The issue at hand is not about who Satoshi is, but whether BTC Core has adhered to those original, foundational principles,” Wright said in a statement. He emphasized that Bitcoin should remain a decentralized system of electronic cash, not a speculative asset or a tool for large institutions.
Wright further challenged Bitcoin Core to prove that they are sticking to this vision. He stated under an account named “S Tominaga” on X:
“If BTC Core wishes to assert that they are the true continuation of Bitcoin, they must do so openly and transparently, and they must do it on the basis of the original design. The burden of proof is theirs. If they can demonstrate, through fact and reason, that they have upheld the principles […] of a decentralized, electronic cash system—then I will have no need to continue with my lawsuits.”
He added: “I will debate any party officially representing BTC Core, and I stand ready to engage in an open, honest, and—I emphasize—completely honest debate. If they can prove that BTC Core remains true to the original concept of Bitcoin, as defined by its creator, Satoshi Nakamoto, I will drop all litigation immediately.”
Wright is representing himself in this lawsuit, which is a significant development.
The UK High Court tracker indicated that he has filed the case without any legal support, acting as a “litigant-in-person.” This decision raises questions about the complexity and potential success of the lawsuit, especially given Wright’s troubled history in the courts.
Related: Craig Wright Faces Severe Legal Consequences for His False Claims
This is not the first time Wright has sued individuals or organizations within the Bitcoin ecosystem. His legal battles have frequently centered on his claims of being Satoshi Nakamoto, though these claims have often been met with skepticism and legal defeats.
Wright’s previous lawsuits have not ended in his favor. Earlier this year, a UK court ruled that Wright is not Satoshi Nakamoto, marking a major blow to his claims.
The court even went as far as to require him to publicly state that he is not the creator of Bitcoin and to cease any further legal actions based on his claims of being Satoshi.
Despite this, Wright remains determined to challenge Bitcoin Core developers, though this time he insists the focus of the lawsuit is not on proving his identity as Satoshi. Instead, he says the lawsuit is about protecting what he calls “the integrity of Bitcoin’s original design”.
Wright explained that the lawsuit “is not about who Satoshi is,” but rather about ensuring that Bitcoin is used as it was intended, in line with the original whitepaper.
This latest legal action comes shortly after he lost a case against COPA (the Crypto Open Patent Alliance) earlier this year. In that case, Wright’s claims of being Satoshi Nakamoto were dismissed, and he was instructed to drop any further lawsuits regarding his identity.
However, Wright appears undeterred. His latest lawsuit follows recent threats he made against other prominent figures in the Bitcoin world.
In particular, Wright has publicly hinted at the possibility of filing lawsuits against Michael Saylor, the co-founder of MicroStrategy and a prominent advocate of Bitcoin. Wright has accused Saylor of misleading people about Bitcoin’s true nature.
Wright’s ongoing legal battles are intertwined with the broader mystery surrounding the true identity of Satoshi Nakamoto. While Wright might continue to claim that he is the elusive Bitcoin creator, courts and the Bitcoin community remain skeptical.
In the meantime, other names have been floated as potential candidates for Satoshi. HBO’s investigation once pointed to cryptographer Peter Todd, though Todd has denied these claims.
Similarly, Len Sassaman was briefly considered a possibility, but this theory has also been debunked. Despite various theories, the identity of Bitcoin’s founder remains one of the greatest unsolved mysteries in the world of technology and finance.
Craig Wright’s £911 billion lawsuit against Bitcoin Core and Square has generated significant attention, not just for its size but for the ongoing controversy surrounding Wright himself.
With a track record of lawsuits and a disputed claim to the identity of Satoshi Nakamoto, Wright continues to be a divisive figure in the Bitcoin community.
Whether this latest lawsuit will succeed or fail remains to be seen, but one thing is certain: Craig Wright shows no signs of backing down from his claims.
The community, for its part, will be watching closely as the legal battle unfolds.
