Craig Wright Bitcoins can crash the market 😱
The point is that approximately 200 thousand bitcoins may be put up for sale. But, let’s figure it out 🔥
On Monday, August 26, the Florida District Court made a decision that Craig S. Wright is required to pay “a little less than 500,000 BTC,” in favor of the heirs of his business partner Dave Kleiman, as been informed by the “Modern Consensus”.
Since the inheritance tax is 40%, and almost 500 thousand bitcoins received at the current exchange rate “pull” about $ 5 billion, the winners of litigation will have to pay the treasury about $ 2 billion in tax. That is about 200 thousand bitcoins to Sell. 🥧
As you know, about 16 million bitcoins have been produced to date. At the same time, there is very serious evidence that 4 million coins of the indicated number are lost forever. This means that the estimated lot of 200 thousand BTC is 1,666 …% of all coins on the market. This is a decent piece of “pie.” If we compare the cryptocurrency market with other assets, then, for example, in the oil market in 2018 – 2019, the threat of a decrease in supply by 1% – 3% due to U.S. sanctions against Iran caused a rise in the price of the Brent brand by about 20%. 🔍
It is not a fact that the heirs will sell bitcoins, and the decision itself is not yet final, since some more procedural issues need to be completed. However, participants in the cryptocurrency market should now add this factor to their “list of observations” so as not to be taken by surprise.
In addition to the material side of the case, the court also ordered the self-styled Satoshi to transfer to the plaintiffs 50% of all intellectual property that Wright owned until December 31, 2013. 🤔
Along the way, the court ruled that Satoshi Nakamoto is actually an association of three people, one of whom is unknown and missing, and the other died, but has heirs.
The specified three enthusiasts in the period from 2009 to 2011 gained 1.1 million BTC, which were then invested in the so-called “Tulip Trust”. Now, by the court order, Wright should transfer 50% of these funds to Dave Kleiman’s brother.
Well, maybe to name himself the Satoshi Nakamoto was the not so good idea for the Craig Right.
Who knows, maybe the story with the Semi Satoshi is not actually become a true, at all !