Kleiman Estate Looking at 40% Estate Tax from BTC won in Legal Battle with Wright
By Luke Flowers – Cryptocurrency Enthusiast
After Craig Wright was ordered to pay 500,000 BTC to his late business partner, Dave Kleiman’s brother, Bitcoin (BTC) prices could encounter new volatility.
This payout - which is more than $5 billion as of writing - could result in a 40% estate tax for which Kleiman’s estate would have to pay. Now, there are further concerns that the estate could look to sell Bitcoin to the market to around 200,000 coins to settle the $2 billion bill, which could likely cause some volatility.
Though this could potentially happen, there were other rumours that Wright was to sell BTC and exchange for his altcoin BSV which could suppress the price of Bitcoin anyway.
Wright said in an interview with fintech magazine Modern Consensus that he would comply with the court’s order after allegations claiming he stole hundreds and thousands of BTC from Dave Kleiman.
This ruling finally brings years of debacle to a close that also involved several third-parties removed from Wright as well as his entourage.
Wright, in the face of numerous fraud claims on social media, had even started suing those who had disagreed with his alleged proof that he created Bitcoin. Needless to say, those lawsuits didn’t come into effect. What’s more, is that those who came to publicly support Wright’s original statements have been silenced. This action could have bewildered many supporters that looked to sell Bitcoin SV in uncertainty.
Everyone except Calvin Ayre, who is a big supporter of Wright’s favored altcoin Bitcoin SV (BSV), still asserted the claim that Wright is indeed Nakamoto, which helps his claim.
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