Galaxy Research Director: Bitcoin Policy Institute officially steps into the abandoned Bitcoin lawsuit, aiming to push the court to dismiss the case

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Golden Finance reports that Alex Thorn, head of research at Galaxy, disclosed in a post on X that the case involving “Noah Doe” attempting to obtain ownership of Satoshi Nakamoto’s bitcoins through legal proceedings has seen major developments. The Bitcoin Policy Institute (BPI) has officially filed to intervene as a defendant and seeks to push the court to dismiss the entire lawsuit. It is understood that, represented by the law firm White & Case, BPI not only applied to intervene but also submitted proposed responsive filings, 15 affirmative defenses, and plans to file a motion to dismiss.
Alex Thorn revealed that BPI claims it qualifies to intervene because the institution has long self-custodied a portion of its bitcoin reserves intended to be held indefinitely, and the plaintiffs’ theory that “long-dormant use constitutes abandonment” may precisely bring similar assets into the scope of future litigation. If the legal logic in this case is ultimately upheld by the court, it could set a precedent for depriving long self-custodied users of asset ownership. Therefore, this lawsuit is not only about assets related to Satoshi Nakamoto, but also about the legal foundation of the entire Bitcoin self-custody ecosystem.
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