UK Supreme Court Shuts Down $13 Billion Bitcoin SV Case Appeal
The UK Supreme Court has rejected an appeal from Bitcoin Satoshi Vision (BSV) investors seeking over $13 billion in damages from major crypto exchanges, including Binance and Kraken, over BSV’s 2019 delisting. The court ruled the case did not raise significant legal issues. BSV Claims Limited argued investors suffered immediate and long-term losses due to the delisting’s impact on BSV’s value and growth prospects. However, the Competition Appeal Tribunal previously dismissed claims that BSV would have matched Bitcoin’s value, and reaffirmed that investors failed to mitigate losses despite functioning markets. Since its 2021 high, BSV’s price has dropped over 96%, now trading around $18. Factors contributing to its decline include a 51% network attack, ongoing delistings, and a court ruling discrediting BSV creator Craig Wright’s claim to be Bitcoin’s founder. Meanwhile, Bitcoin’s price has reached record highs during the same period.
