Not sure if you're into the scam known as cryptocurrency - Dr. Wright has lost his trial to BigTech, Mastercard & Visa, who do not want him to own the rights to Bitcoin for obvious commercial reasons.
The judge has already said Wright needs to find £6 million to pay the plaintiffs costs. Fair enough. But the judge has also served a Worldwide Freezing Order on Wrights total net worth. Meaning he cannot move any more assets until the judge says so.
The plaintiffs fear that Wright will run to a tax haven and explicitly called the judge for the injunction. So Wright has to wait until April 12th where he can ask permission to sell assets to pay the costs.
This trial is all about if Wright is the inventor of Bitcoin, AKA Satoshi Nakamoto, and he lost. And there are several $billions in Bitcoin stored in the original addresses which most of the world believes were mined in 2009 by Satoshi himself. The general view is that Wright owns the keys to these addresses. The plot thickens.
So the court has declared that Wright is not Satoshi. And if Wright owns these Bitcoin, he can spend them once the judge gives him permission, to fund the costs of the trial which declared he is not Satoshi, ruled on by the very same judge. Isn't it ironic?
No one knows if this will happen or even if Wright still has the keys to spend those coin. But if Wright does this, it will answer the furious demand of the crypto scam world that to finally prove to them he is Satoshi he must either 1) move these coins using the keys or 2) sign a message in public using the same keys.
I do not believe he will do it, because he's regularly shown he's a person of principle on this by declaring that mere possession of the keys alone does not prove ownership, in law.
But if he does, this should be a spectacular global media event, not just because of the scale of this trial in costs and gross value concerned. But because I believe it will be the trigger for much much bigger systemic events down the road in global finance and ultimately the most precious asset of every household - house price!
Again I don't think the media event will happen because the media is told what to report by 'the system' to 'protect' it, in spite of the terrible unintended consequences which policy 'for the greater good' usually sets in motion. Remember the pandemic?
What it will do if Wright spends these coin - proving that he is Satoshi and inventor of Bitcoin - is to send a systemic nuclear shock wave through the crypto world, slamming into the narrative which has upheld crypto scamming for so long as digital gold. A system which has already destroyed a million households worldwide, free from the arms of the law.
This may be the first trigger of several, which I believe will end up in the Great Recession of 2026.
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