Bitcoin SV has been in the news for the past week after an impressive rally. Now, however, the crypto has fallen by more than 40% since its high this week. Moreover, Craig Wright’s lawyer has now said that Wright does not have access to private Bitcoin keys, contrary to recent rumors.
Bitcoin SV has fallen 40% in this week
This week’s earlier Bitcoin SV rally was mainly due to massive speculation. According to rumors, Craig Wright could be about to liquidate substantial Bitcoin holdings and instead invest these in Bitcoin SV, his coin of choice. As such, the price of Bitcoin SV would likely increase.
However, this was all dependent on Wright having control over large Bitcoin holdings. A recent development in the ongoing legal battle between Wright and the estate of his late former partner, Dave Kleiman, gave fresh hopes that Wright was about to receive a “bonded courier”.
This bonded courier would supposedly hold the private keys to Satoshi Nakamoto’s Bitcoin holdings. Moreover, on Tuesday this week, speculation grew rampant as news outlets began reporting that Wright had received the keys to one million Bitcoin.
Wright’s lawyer says Wright isn’t in possession of private keys
Now, however, Wright’s lawyer is coming out hard against any such reports. Wright’s lawyer, Andres Rivero at the Rivero Mestre law firm, said that Wright is not in possession of the Bitcoin keys.
“The file that he’s received did not include private key,” Rivero said in a statement to Decrypto. Moreover, Rivero also said that the keys could either come to Wright “whole” or split up into parts.
Nevertheless, Rivero did not go into detail as to who is in possession of these keys or when they might arrive. A recent court decision gives Wright until the 3rd of February to receive the keys. With that said, however, the court was doubtful whether Wright would ultimately receive any keys.
Meanwhile, the price of Bitcoin SV has crashed back down again on these news. The Bitcoin hard fork was trading at an all-time high of $436 earlier this week. On the heels of these latest news, however, the price has fallen to trade around $260.
Consequently, Bitcoin SV is down roughly 40% just from its week-high on January 15th. It will be interesting to see what the coming week holds for Bitcoin SV, especially as the crypto’s price movements seem increasingly linked to the latest news regarding Craig Wright.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.