While it is certainly interesting to follow the endless antics of Craig Wright, an Australian computer scientist who has repeatedly claimed to be Satoshi Nakamoto and constantly fights with people within the industry, it is also interesting to note the correlation between his antics on the value of bitcoins SV which is his flagship token. Last week, Craig Wright had alleged that he would be receiving some private keys soon which would give him access to a large bitcoin fortune which is being looked into during his case with the estate of David Kleinman, a late scientist. This led to an increase in the value of the token following the news.
Now, the reverse seems to be the case as bitcoin SV has fallen 17 percent in value after it has been revealed that Craig Wright does not, in fact, have access to $9 billion in bitcoin.
In the last week, Craig Wright told courts that a bonded courier would be arriving with private key information with even the judge expressing skepticism that this would actually take place. Now, it seems the file that was given to Wright did not contain any private key information and even before this news when fully public, bitcoin SV began to take a dip in value. This got even worse following the confirmation of the news by Craig Wright’s lawyers themselves.
“The file that he’s received did not include private keys,” Said Andres Rivero.
This is not the first time his personal issues have gotten in the way of the progress of bitcoin SV. In 2019, he got into a Twitter feud with a popular crypto commentator following his claims of been Satoshi Nakamoto and then put out a bounty call for personal information to reveal the identity of the Twitter user. This led to a lot of pushback from the industry as bitcoin SV was delisted from several exchanges such as Kraken. Should his antics and issues continue into the future, it could negatively affect bitcoin SV long-term as it will be seen as a perpetually unstable talking with an unstable founder.