The price of Bitcoin SV (BSV) has surged over the past two days, reaching more than $43. A mysterious tweet from “Satoshi Nakamoto” has stirred up the crypto community. What happened
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The Bitcoin SV price explodes in the space of a day
On October 1, the price of BSV was hovering around $31. The cryptocurrency, which enjoyed a certain craze a few years ago, is currently far from arousing the same enthusiasm. A few days ago, it was ranked 64th among the most capitalized cryptocurrencies, and was virtually unheard of.
But a considerable jump in its price has attracted attention since yesterday. In just over a day, Bitcoin SV has jumped +37%, topping the $43 mark once again:
BSV price surges over the past two days
Bitcoin SV’s capitalization has risen to $791 million, propelling it to 49th place among the most highly capitalized cryptocurrencies. So how do we explain this renewed interest in BSV?
A tweet from “Satoshi Nakamoto” in question
To understand what happened, we need to remember that Bitcoin SV is in long form “Bitcoin Satoshi’s Vision”, and that the project teams have always claimed to want to follow the “original” vision of Bitcoin’s creator. In reality, however, it’s yet another fork: BSV is a fork of Bitcoin Cash, itself a fork of Bitcoin.
The link with Satoshi Nakamoto, though bogus, is still considered by some members of the community. That’s why a mysterious tweet from the X account “Satoshi Nakamoto”, published in recent days, has had an effect on the BSV share price.
The account bearing the name of Bitcoin’s creator promised the community new developments for the world’s largest cryptocurrency:
Bitcoin is a predicate machine. Over the following months, we shall explore different aspects that were not explicitly contained within the white paper. These aspects are all parts of bitcoin, and are important. Some of these ideas were touched upon in the early years; now is…
– Satoshi Nakamoto (@satoshi) October 2, 2023
“In the coming months, we will be exploring various aspects that were not explicitly contained in the white paper. […] Some of these ideas have been touched on in the early years; now it’s time to extrapolate and explain. “
On X, however, a warning message from the community has been published: it reminds us that the @Satoshi account is now used by Craig Wright, and that the latter “has been exposed as an impostor”.
Indeed, Craig Wright has been claiming for years that he is the creator of Bitcoin, without ever being able to prove it, and has been exposed several times for his lies and falsifications. This summer, Craig Wright lost a legal battle against Peter McCormack, who had accused him of being an impostor.
To sum up, the BSV leap seems to be based on a lot of noise… without any particular fundamental evolution. It should also be remembered that Craig Wright is embroiled in several legal cases. Caution is therefore advised when dealing with figures claiming to be Satoshi Nakamoto
