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Benzinga - Judge James Mellor on Wednesday dismissed Craig Wright's claim to be Satoshi Nakamoto, the enigmatic creator of Bitcoin (CRYPTO: BTC), concluding weeks of legal proceedings.

What Happened: The Crypto Open Patent Alliance (COPA) brought the case against Wright, challenging his assertion of being the digital currency's inventor.

The verdict stated that Wright could not legally identify himself as Nakamoto, according to the findings of the COPA lawsuit.

Jack Dorsey, co-founder of The Block, highlighted this on the social media platform X, drawing significant attention within the cryptocurrency community.

Judge Mellor's statement clarified the court's stance: "Dr. Wright is not the author of the Bitcoin White Paper...not the person who adopted or operated under the pseudonym Satoshi Nakamoto...not the person who created the Bitcoin System...nor the author of the initial versions of the Bitcoin software." This comprehensive dismissal of Wright's claims sets a clear legal precedent regarding the identity of Bitcoin's creator.

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Why It Matters: This verdict holds profound implications for the cryptocurrency world, resolving one of its most enduring mysteries.

It reaffirms the anonymous and collective foundation upon which Bitcoin was built, distancing the digital currency from individual claims of creation.

Whats Next: The ruling draws a line under this chapter of Bitcoin's history, shifting the focus back to the technology and its future developments.

As the crypto community moves forward, the identity of Nakamoto remains a symbol of the decentralized ethos that underpins the digital currency movement.

Price Action: At the time of writing, Bitcoin was trading at $71,055, down 2.5% over the past 24 hours, as reported by Benzinga Pro.

Read Next: Bitcoin ETFs Post $684M In Net Inflows, BlackRock's IBIT Leads The Charge

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Who Is Satoshi Nakamoto? Court Rejects Craig Wright's Claim To Be Bitcoin's Inventor By Benzinga - Investing.com UK