1 Million Bitcoins Will Be Attributed To Craig Wright Tomorrow

1 million bitcoins or $8 billion worth of bitcoins will be attributed to Craig Wright tomorrow as the latest development in the Kleiman case as we are about to read further in the crypto news below.

The controversy around the Kleiman legal case continues as Wright is reportedly going to receive the private keys that are needed to access more than 1 million bitcoins tomorrow on January 1^st, 2020. It everything goes according to plan, it is questionable how will Wright dispose of the cryptocurrency what the effect on the price of the benchmark cryptocurrency. Wright also fought a lot of legal battles in the crypto space including the one against his former business partner David Kleiman. Both of them mined more than 1 million bitcoins one year ago but after David’s death, his brother Ira Kleiman accused Wright of stealing their shares.

The Kleiman family won the case as Judge Bruce Reinhart ordered Wright to pay return half of the miner bitcoins or about $4 billion today. Wright argued that the coins were locked in a Tulip Trust which is a Seychelles-based fund but he has no way of accessing them. On January 1^st, 2020, Wright is supposedly ready to get the private keys from a bonded courier which means that he will own close to 1.1 million Bitcoins or $8 billion worth of BTC and if he decides to sell, the community fears that it could have a catastrophic effect on the price.

On the other hand, as per the recent reports by Bloomberg, Wright said that the ‘’can not be certain that information will arrive’’ and that he intends to keep the bitcoins:

 “I do not intend to dump my family’s BTC as some people suspect or want, as this would hurt many people in the industry.”

Wright is still among the most controversial figures in the crypto community and declared himself as the person behind the pseudonym Satoshi Nakamoto who is the creator of Bitcoin. Things went even further earlier this year during a blockchain conference where it seemed like he will be credited as being Nakamoto. The crypto community was strongly opposing this idea and many prominent figures in the industry boycotted the event. Charlie Lee even confirmed that ‘’ many of us made the pledge not to attend a conference that invites Faketoshi.’’