The world of Bitcoin is anticipating what will happen next with the Tulip Trust, the legal and technical trust structures that a large amount of Bitcoin mined by Dr. Craig Wright. We may soon find out more, as a legal filing in his legal battle with Ira Kleiman teases new information about the trust.
Posted on Twitter by cryptorebel_SV, Kleiman’s attorneys have they received a new document from Wright’s legal team on January 6 concerning the Tulip Trust. They are motioning to seal the documents for 10 days to allow Wright to redact any sensitive portions.
Interesting development in the Kleiman vs Wright case:
"In advance of today’s discovery hearing, Plaintiffs will be attaching a third Tulip Trust document that was not produced under this Court’s prior order…Plaintiffs received this document for the first time on Jan. 6, 2020" pic.twitter.com/F1Fm3uTyYq
— cryptorebel_SV (@cryptorebel_SV) January 9, 2020
As the motion notes, Kleiman’s legal team had not seen these documents prior to January 6, and received no explanation as to why they were only getting them now. That leaves plenty open to speculation.
The Tulip Trust is believed to be the time sealed Bitcoin, mined by Dr. Wright in the early days of Bitcoin. The private keys held in the trusts were to be locked away and only provided to Wright in January 2020.
If this new documents reveal that Wright now has access to those private keys, or at least knows a lot more about them, this could have major ramifications for the world of Bitcoin. The more than 1 million Bitcoin believed to be held in the Trust might start moving, immediately providing plenty of credibility to Dr. Wright’s claim to be the creator of Bitcoin. This could have massive effects on the price of BTC and Bitcoin SV (BSV), and ripple effects on miners, exchanges, and other businesses.
It also has consequences for Ira Kleiman’s lawsuit. Judge Bruce Reinhart has ruled that the Kleiman family should receive half of whatever is found in the trust. That ruling was non-binding, and there’s still plenty of lawyering left to do. But just knowing that there are indeed millions of dollars there to fight for would immediately raise the profile of the case.
This still may not be the last development around the Tulip Trust. Dr. Wright warned recently that whatever happens in January 2020 might just be more information related to the Trust, and not the reveal of everything involved. He’s expected he’d be holding trust meetings and working it all out this month.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.