Craig Wright’s Bitcoin SV (BSV) altcoin has experienced explosive growth following his successful copyright registration for the original Bitcoin whitepaper and trademark.
As previously reported by IIB, BSV surged over 100% on the day this news broke (May 21), rocketing from $62 to $116 in a matter of minutes.
Since then, the altcoin’s gains subsided, falling back to a local low of $89 on May 26, before exploding sharply upwards once again. BSV has since reached a local high of $122 and is maintaining a price of around $120 at the time of writing, with a current market cap of $2.1 billion.
Why Does BSV Keep Pumping?
Bitcoin SV’s initial 100% price jump from $62 to $116 came about when Wright and his copyright registrations. As for the second jump from $89 to $122, it can be attributed to Wright’s latest anti-Bitcoin rant where he stated that Bitcoin (BTC) will eventually disappear very quickly because it has been vastly manipulated.
Wright said in a video update:
“Where a blockchain does not follow the rules… it is simple for the government to stop. When the action happens, as it did with e-gold, everything invested in the system will vanish in a flash. When BTC disappears, it will not disappear slowly, it will disappear in moments.”
All in all, Wright appears to be doing everything he can to pump his version of Bitcoin higher, and his supporters are eating it all up and pushing BSV’s price higher.
An example of a BSV supporter that believes that Wright is Satoshi Nakamoto can be seen in the tweet below:
CSW warned us he'd take BTC price down from the long-trusted support level at 6000 just before he did it.
— undervalued_altcoins (@undervalued_alt) May 26, 2019
What will Craig Wright do to pump up his altcoin next? Let us know what you think in the comment section below.