Bitcoin SV spikes more than 95% to become fifth largest cryptocurrency

Bitcoin SV doubles in value following recent court developments in the ongoing billion-dollar lawsuit against self-professed Bitcoin "inventor," Craig Wright.

2 min read

Jan 14, 2020

In the last few hours, Bitcoin SV (BSV) pumped to its all-time highest value, briefly reaching as high as $339.95 before cooling off somewhat to reach its current value of $320—still more than 30% higher than its previous all-time high.

The cryptocurrency has added a total of $2.5 billion to its market capitalization in the last 24 hours, after gaining over 95% in this time. With that said, BSV's price action appears to be rapidly changing, and a significant chunk of this growth was achieved in the last hour.

At its current value, Bitcoin SV is just inches away from knocking Bitcoin Cash (BCH) out of its slot as the fourth-largest cryptocurrency by market capitalization. Nonetheless, Bitcoin SV has already jumped several places today, and recently eclipsed Tether (USDT) to become the fifth-largest cryptocurrency by market cap.

This recent development comes just a day after it was revealed that Craig Wright, a staunch supporter of Bitcoin SV, would be getting more time to provide evidence of his $10 billion bitcoin fortune. Now, Wright has until February 3, 2020, to produce the private keys necessary to settle the legal dispute with the Kleiman estate—which has dragged on for more than a year.

Should Craig Wright successfully provide the private keys to the Tulip Trust, this could add serious weight to his claim to be Bitcoin's infamous founder Satoshi Nakamoto—an accolade that could cost him half his fortune.

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