{"id":478666,"date":"2021-12-10T23:00:11","date_gmt":"2021-12-10T23:00:11","guid":{"rendered":"https:\/\/wncen.com\/?p=478666"},"modified":"2024-06-11T09:47:04","modified_gmt":"2024-06-11T09:47:04","slug":"why-bitcoin-creator-craig-wright-came-out-ahead-despite-having-to-pay-100-million","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/why-bitcoin-creator-craig-wright-came-out-ahead-despite-having-to-pay-100-million\/","title":{"rendered":"Why \u201cBitcoin Creator\u201d Craig Wright Came Out Ahead Despite Having To Pay $100 Million"},"content":{"rendered":"

On Monday, it was determined by a Miami court<\/a> that Craig Wright, the alleged creator of Bitcoin, would pay $100 million in damages to David Kleiman, Wright\u2019s late partner, brother Ira Kleiman. The case had dragged on for about a year and finally came to an end with this judgment. This time, Wright did not appeal the judgment as the computer scientist believed it to be fair.<\/p>\n

Furthermore, Wright said that the judgment on the part of the court solidifies his claim to be the original Bitcoin creator, which is something the computer scientist has claimed for a long time. Wright was ordered to pay the $100 million to the heirs of David Kleiman who claimed the late computer scientist\u2019s estate was entitled to half of the 1.1 million BTC mined by Satoshi Nakamoto.<\/p>\n

Related Reading |\u00a0Despite Red Bitcoin, On-Chain Signals Flip Green<\/a><\/strong><\/em><\/p>\n

How Wright May Have Come Out Ahead<\/h2>\n

One important tidbit, in this case, is that Wright may actually be Satoshi Nakamoto as he claims. If this is true, then the computer scientist is in possession of the 1.1 million BTC that was mined by the creator wallet after the Bitcoin blockchain was launched. The bitcoins contained in this wallet are worth an estimated $70 billion, of which Kleiman\u2019s heirs claimed to be entitled to half of this.<\/p>\n

With $70 billion in tow, the $100 million ordered by the courts to be paid to Kleiman\u2019s estate is only a drop in the ocean for Craig Wright. So, in total, the entrepreneur would have come out ahead having to only pay a tiny fraction of what Kleiman would have had if his share of the BTC had been awarded to him. Wright would get to keep $70 billion all to himself.<\/p>\n

\"Bitcoin<\/p>\n

BTC slumps to $48K | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Kleiman who passed away in 2013 at the age of 46 was said to be close friends with Craig Wright, with whom he allegedly created Bitcoin. The Kleiman family also credits the intellectual property behind the bitcoin blockchain technology to the late computer scientist.<\/p>\n
\u201cBitcoin Creator\u201d Happy With Jury Verdict<\/h2>\n
For years, Craig Wright has been involved in lawsuits regarding his status as the creator of Bitcoin. Wright has claimed countless times that he created the digital asset but no one in the space has taken the computer scientist seriously and has been referred to as an impostor. However, the alleged Bitcoin creator claims that the jury verdict finally acknowledges him as the creator of the asset.<\/p>\n
Related Reading |\u00a0Goldman Sachs CEO Sidesteps Bitcoin Inquiries, Says Blockchain Is More Important<\/a><\/strong><\/em><\/p>\n
In a statement made after the trial, Wright explained<\/a> that the jury has found out that he indeed created bitcoin and as such would not be appealing the judgment. He also expressed relief at the verdict, saying, \u201cI have never been so relieved in my life.\u201d<\/p>\n
Although Wright continues to hold up his claim that he is Satoshi Nakamoto, he denies the claims that he and Kleiman launched the cryptocurrency together. He said the claims being made by Ira Kleiman on behalf of Dave Kleiman\u2019s estate were false, adding that there is no paper trail that shows evidence of a partnership between them.<\/p>\n
One thing Wright refused to admit is where the about 1.1 BTC in dispute are. The computer scientist has been careful not to mention anything regarding the bitcoin stash. Whether Wright has or ever had the bitcoins in his possession remains a mystery.<\/p>\n
Featured image from CryptoPotato, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
On Monday, it was determined by a Miami court that Craig Wright, the alleged creator of Bitcoin, would pay $100 million in damages to David Kleiman, Wright\u2019s late partner, brother Ira Kleiman. The case had dragged on for about a year and finally came to an end with this judgment. This time, Wright did not appeal the judgment as the computer scientist believed it to be fair. Furthermore, Wright said that the judgment on the part of the court solidifies his claim to be the original Bitcoin creator, which is something the computer scientist has claimed for a long time. Wright was ordered to pay the $100 million to the heirs of David Kleiman who claimed the late computer scientist\u2019s estate was entitled to half of the 1.1 million BTC mined by Satoshi Nakamoto. Related Reading |\u00a0Despite Red Bitcoin, On-Chain Signals Flip Green How Wright May Have Come Out Ahead One important tidbit, in this case, is that Wright may actually be Satoshi Nakamoto as he claims. If this is true, then the computer scientist is in possession of the 1.1 million BTC that was mined by the creator wallet after the Bitcoin blockchain was launched. The bitcoins contained in this wallet are worth an estimated $70 billion, of which Kleiman\u2019s heirs claimed to be entitled to half of this. With $70 billion in tow, the $100 million ordered by the courts to be paid to Kleiman\u2019s estate is only a drop in the ocean for Craig Wright. So, in total, the entrepreneur would have come out ahead having to only pay a tiny fraction of what Kleiman would have had if his share of the BTC had been awarded to him. Wright would get to keep $70 billion all to himself. BTC slumps to $48K | Source: BTCUSD on TradingView.com Kleiman who passed away in 2013 at the age of 46 was said to be close friends with Craig Wright, with whom he allegedly created Bitcoin. The Kleiman family also credits the intellectual property behind the bitcoin blockchain technology to the late computer scientist. \u201cBitcoin Creator\u201d Happy With Jury Verdict For years, Craig Wright has been involved in lawsuits regarding his status as the creator of Bitcoin. Wright has claimed countless times that he created the digital asset but no one in the space has taken the computer scientist seriously and has been referred to as an impostor. However, the alleged Bitcoin creator claims that the jury verdict finally acknowledges him as the creator of the asset. Related Reading |\u00a0Goldman Sachs CEO Sidesteps Bitcoin Inquiries, Says Blockchain Is More Important In a statement made after the trial, Wright explained that the jury has found out that he indeed created bitcoin and as such would not be appealing the judgment. He also expressed relief at the verdict, saying, \u201cI have never been so relieved in my life.\u201d Although Wright continues to hold up his claim that he is Satoshi Nakamoto, he denies the claims that he and Kleiman launched the cryptocurrency together. He said the claims being made by Ira Kleiman on behalf of Dave Kleiman\u2019s estate were false, adding that there is no paper trail that shows evidence of a partnership between them. One thing Wright refused to admit is where the about 1.1 BTC in dispute are. The computer scientist has been careful not to mention anything regarding the bitcoin stash. Whether Wright has or ever had the bitcoins in his possession remains a mystery. Featured image from CryptoPotato, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":478671,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,5051,5708,1119,7560],"class_list":["post-478666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-creator","tag-bitcoin-lawsuit","tag-btc","tag-craig-wright"],"acf":[],"yoast_head":"\nWhy \u201cBitcoin Creator\u201d Craig Wright Came Out Ahead Despite Having To Pay $100 Million<\/title>\n<meta name=\"description\" content=\"On Monday, it was determined by a Miami court that Craig Wright, the alleged creator of Bitcoin, would pay $100 million in damages to David Kleiman,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why \u201cBitcoin Creator\u201d Craig Wright Came Out Ahead Despite Having To Pay $100 Million","url":"http:\/\/wncen.com\/news\/why-bitcoin-creator-craig-wright-came-out-ahead-despite-having-to-pay-100-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/why-bitcoin-creator-craig-wright-came-out-ahead-despite-having-to-pay-100-million\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Craig-Wright.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Craig-Wright.jpeg?fit=1201%2C720"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin creator","bitcoin lawsuit","btc","craig wright"],"dateCreated":"2021-12-10T23:00:11Z","datePublished":"2021-12-10T23:00:11Z","dateModified":"2024-06-11T09:47:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why \\u201cBitcoin Creator\\u201d Craig Wright Came Out Ahead Despite Having To Pay $100 Million\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/why-bitcoin-creator-craig-wright-came-out-ahead-despite-having-to-pay-100-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/why-bitcoin-creator-craig-wright-came-out-ahead-despite-having-to-pay-100-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/Craig-Wright.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/Craig-Wright.jpeg?fit=1201%2C720\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin creator\",\"bitcoin lawsuit\",\"btc\",\"craig wright\"],\"dateCreated\":\"2021-12-10T23:00:11Z\",\"datePublished\":\"2021-12-10T23:00:11Z\",\"dateModified\":\"2024-06-11T09:47:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Craig-Wright.jpeg?fit=1201%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/478666"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=478666"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/478666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/478671"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=478666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=478666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=478666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}