Satoshi Bitcoin Case Faces Strong Counterargument in Latest Update

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Court case gets new update Court orders stay Advertisement In a recent tweet, Galaxy's head of Research, Alex Thorn , shared an update in the case to claim legal title over Satoshi's Bitcoin. In March, a case was filed in New York's Supreme Court seeking to claim quiet title to 3.799 million BTC (over $200 billion), including coins claimed to belong to the pseudonymous Bitcoin creator Satoshi Nakamoto . The plaintiffs in the case, given as "Noah Doe" and two unnamed Wyoming LLCs ("ABC Company" and "XYZ Company," the "Wyoming LLCs"), asked the Court to declare that they own the dormant Noah Doe addresses and their contents under New York's lost-and-found property statute. HOT Stories Analyzing XRP's Bounce Potential, Shiba Inu (SHIB) to Add 10% or Lose 10%? Can Zcash (ZEC) Get Back to the Top? Crypto Market Review Cardano Founder Teases Joe Rogan Appearance UPDATE IN CASE TO CLAIM LEGAL TITLE OVER SATOSHI'S BITCOIN on may 29, @btclawyerguy filed an amicus arguing that the 'noah doe' case was bunk.. in response the court ordered a stay.. noah doe's lawyers opposed the stay, but @btclawyerguy has just filed a strong rebuttal 👇 pic.twitter.com/WaB6lgJsdy — Alex Thorn (@intangiblecoins) June 20, 2026 The anonymous plaintiffs claimed that Bitcoin creator Satoshi Nakamoto's coins (and numerous other coins) are lost property and that they deserve to legally own them by virtue of "finding" them. Advertisement Court case gets new update Alex Thorn shared an update on the much-watched legal battle with high stakes for the crypto community. You Might Also Like Sun, 05/03/2026 - 07:29 Bitcoiners Agree Satoshi’s Coins Must Remain Untouched By Alex Dovbnya Advertisement Crucially, the plaintiffs are seeking legal title over the entirety of addresses suspected of belonging to Bitcoin creator Satoshi Nakamoto (21,744 addresses holding about 1.09 million BTC). A default judgment in favor of the plaintiffs could grant legal title to these BTC, setting a bad precedent for the crypto industry. With the public ledger showing at least some of the supposedly lost owners spending their coins in real time, this might be on-chain proof that the plaintiffs' algorithm is flawed and that they didn't 'find' anything. Court orders stay On May 29, Ian R. Cohen filed an amicus brief arguing that the "Noah Doe" case was bunk. You Might Also Like Thu, 06/04/2026 - 11:30 More Bitcoin Than Satoshi Holds: Supply Dynamics Reveal Key Detail as Price Drops By Tomiwabold Olajide Cohen argued that New York's lost-property law doesn't cover self-custodied Bitcoin and that dormancy isn't abandonment, with New York having no jurisdiction over the keys. He put forward the core point that with Bitcoin, possession of the private key is ownership: you can't "find" a wallet you can't open, and a dormant address isn't lost property; it is someone's savings that simply haven't moved. On June 4, Justice Kathy King granted Cohen a hearing and stayed the entire case—freezing any inquest or default judgment. Noah Doe's lawyers opposed the stay, with Cohen filing a strong rebuttal in the most recent update to the case. #Bitcoin