Bitcoin SV Surges 200% as Wright Registers Copyright to Satoshi White Paper

Bitcoin SV surged more than 200 percent on some exchanges after Craig Wright filed a copyright registration for the bitcoin white paper.

AccessTimeIconMay 21, 2019 at 2:50 p.m. UTC
Updated Sep 29, 2023 at 12:03 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The standout performer in the cryptocurrency markets today is one of the world's largest by market cap, Bitcoin SV (BSV), which at one point surged over 200 percent on some exchanges during today’s trading session.

At 13:15 UTC, the price 11th largest crypto by market cap rank reached a 24-hour high of $139.31, a figure more than 120 percent higher than its UTC opening price of $62.99, according to CoinMarketCap data.

On some exchanges, however, BSV’s sudden price surge was even more drastic, increasing as much as 214 percent to reach $195 in the BSV/USDT market on the Singapore-based cryptocurrency exchange Huobi Global.

The surge is due in part to the announcement that Craig Wright has registered copyright claims on the Bitcoin Whitepaper and original code and promised to revert the copyright to the Bitcoin Association.

A release today notes:

Wright intends to assign the copyright registrations to Bitcoin Association to hold for the benefit of the Bitcoin ecosystem. Bitcoin Association is a global industry organization for Bitcoin businesses. It supports BSV and owns the Bitcoin SV client software.
download-76

Messari data reveals the total exchange reported 24-hour volume for BSV is $447.6 million whereas its “Real 10” volume from the 10 exchanges identified as the sole exchanges reporting honest volume figures in a report from Bitwise Asset Management reveals today’s volume figure is closer to $31.8 million.

Bitcoin Satoshi Vision, typically abbreviated as Bitcoin SV, is a fork of the bitcoin cash blockchain and was recently delisted from a number of well known exchanges including Binance, Kraken and Shapeshift due to its main proponent Craig Wright, claiming that he is Satoshi Nakamoto the creator of bitcoin, which many assume to be fraudulent.

Many other cryptocurrencies are flashing notable gains today, albeit not to the extent of BSV.

Bitcoin Gold (BTG), neo (NEO), tron (TRX) and bitcoin cash (BCH) are all reporting 24-hour gains above 5 percent according to data from CoinDesk.

Disclosure: The author holds several cryptocurrencies. Please see his author bio for more information. 

Space image via Shutterstock; Charts via TradingView

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.