New York · Bitcoin · Galaxy Digital · CryptoSlate
However, the firm argued that a rubber-stamped victory is highly improbable
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Alex Thorn, head of research at Galaxy Digital, concluded: “It would be extraordinary for a New York court to hand three anonymous parties legal title to roughly $293 billion worth of BTC, including the coins most closely associated with Satoshi Nakamoto, on a lost-and-found theory propped up by a questionable…
Key facts
- A further breakdown of the wallets showed that the average address in the legal claim contains 97.25 BTC, worth roughly $7.5 million, while the median holds exactly 50 BTC, or about $3.86 million
- It would be extraordinary for a New York court to hand three anonymous parties legal title to roughly $293 billion worth of BTC, including the coins most closely associated with Satoshi Nakamoto
- Together, the addresses hold nearly 3.8 million BTC, or about 18% of Bitcoin’s fixed 21 million token supply
- Bitcoin is +0.54% over the past 24 hours and currently sits at rank # 1 by market cap
Summary
01 A New York lawsuit seeks title to 39,069 dormant Bitcoin addresses, including wallets linked to Satoshi Nakamoto. 02 Plaintiffs argue the wallets are lost property worth under $10 each, while analysts value them at about $293.5 billion. 03 The case may still hinge on whether a judge accepts abandonment, since silent owners can appear if coins ever move. A New York lawsuit is seeking to treat some of Bitcoin’s oldest dormant wallets, including addresses tied to the cryptocurrency’s creator, as lost property valued at less than $10 each. The amended complaint asks a state court to grant legal ownership of 39,069 Bitcoin addresses to a pseudonymous plaintiff identified as Noah Doe and two Wyoming entities, ABC Company, and XYZ Company.