Bybit launches BTC Brawl trading competition
· ·

A $10,000 bet Craig Wright can’t move Satoshi’s Bitcoin

A $10,000 bet Craig Wright can’t move Satoshi’s Bitcoin

Earlier this week, Wright lost the Kleiman case and was ordered by a judge to give away half of his Bitcoin holdings to the Kleiman estate. British podcaster Peter McCormack said he was willing to bet $10,000 that Craig Wright won’t be able to move the Bitcoin associated with Satoshi Nakamoto, even offering 2 to 1 odds to anyone willing to take the bet.

Wright vs Kleiman case ruling gets an interesting twist

The Craig Wright saga might not be coming to an end, but it sure is getting more interesting by the day. The self-proclaimed Satoshi Nakamoto has officially lost the Kleiman case, with the judge ordering him to pay half of his pre-2014 Bitcoin to the estate of his former partner.

And while the ruling itself didn’t come as a surprise due to Wright’s notoriety, Wright’s reaction to the court’s decision is something few expected. Contradicting previous claims that he is unable to access the fortune he mined in Bitcoin’s early days, Wright said he “has no choice” but to pay out almost $2.5 billion worth of BTC.

Many of his supporters warned about the potentially devastating consequences this could have on the crypto market, given that the Kleiman estate would have to dump around 40 percent of the coins to pay, or roughly $1 billion, to cover estate taxes.

This prompted British podcaster Peter McCormack to come up with an interesting offer to those who believe Wright is Satoshi Nakamoto. McCormack, who is currently embroiled in a libel lawsuit with Wright, said bet $10,000 that none of the coins associated with Satoshi Nakamoto will be moved within a year.

He even offered 2 to 1 odds for the bet, saying the money would be immediately locked in escrow and paid out at the end of August next year to anyone that accepted the bet.

Crypto community mocks Wright as he begins book promotion

The crypto community welcomed McCormack’s call for the bet, with many pointing out he could have easily increased the odds to 100:1 to make things even more interesting. Some have even suggested that he opened up a prediction market for the bet.

While everyone was mocking Wright and discussing the repercussions of McCormack’s bet, Calvin Ayre was busy promoting a new book about Wright. The book, titled “Behind the Mask: Craig Wright and the Battle for Bitcoin,” written by Byron Kaye and Jeremy Wagstaff, describes a “thrilling, stranger-than-fiction story of Craig Wright.”

Calvin Ayre, a Canadian gambling tycoon and one of the biggest investors in Craig Wright and Bitcoin SV, broke the news about the book on Twitter. Ayre said that the promotion couldn’t have begun at a perfect time, as the book will be released at the same time when Wright is set to get his alleged coins out of the “Tulip Trust.”

McCormack responded to Ayre’s tweet with a quote from the judge’s ruling, who explicitly said that the existence of the “Tulip Trust” wasn’t supported by any evidence at all.

Bitcoin SV | BSV

Updated: Nov 7 at 2:51 am PDT
$122.13
-8.27%

Bitcoin SV, currently ranked #9 by market cap, is down 8.27% over the past 24 hours. BSV has a market cap of $2.18B with a 24 hour volume of $310.71M.

Chart by CryptoCompare

Bitcoin SV is down 8.27% over the past 24 hours.

Posted In: , , People of Blockchain, Price Watch

The above advertisement is an affiliate link. CryptoSlate will earn a small commission if you sign up.

Like what you see? Get more Craig Wright isn't Satoshi news in your inbox

Subscribe to CryptoSlate, our daily newsletter containing the top stories and analysis.

Sign up to stay informed
Priyeshu Garg
Author

Priyeshu Garg

Crypto Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

View author profile

Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.