Cryptocurrencies

Bitcoin Offshoots Surge After Would-Be Satoshi Nakamoto Filing

Bitcoin SV has rallied by about 30%; Bitcoin Cash jumped 10%
Analyst raises caution about possible price manipulation

Craig Wright, self declared inventor of Bitcoin, arrives at federal court in West Palm Beach, Florida, U.S., on Friday, June 28, 2019.

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By Olga Kharif

January 10, 2020 at 7:25 PM UTC

This article is for subscribers only.

Two Bitcoin offshoots surged amid optimism that Craig Wright, who claims to have invented the cryptocurrency under the pseudonym Satoshi Nakamoto, may own huge swaths of the coins.

Bitcoin SV, which Wright supports and calls the true Bitcoin, rallied by about 30%, while Bitcoin Cash rose by more than 10%. If Wright indeed owns millions in the largest cryptocurrency, he would likely also own huge quantities of the offshoots. Bitcoin rose about 4% to around $8,100.