Bitcoin SV (BSV) has had a big week. On Tuesday, its price jumped by just over 110%, leaping from about $62 at 1:14 p.m. UTC to $132 an hour later. Given that BSV had been having a rough time in the previous month, with a number of high-profile delistings, this dizzying price rise must have come as a relief to the supporters of the cryptocurrency and the company that created it — nChain.
And while explanations for sudden market shifts are often hard to come by in the cryptocurrency industry, some within the media pinned BSV's abrupt climb on the news that nChain founder Craig Wright had filed a copyright registration for the original bitcoin white paper with the United States Copyright Office. Given that this registration identified Wright as "Satoshi Nakomoto" — a claim Wright has been making since December 2015 — it ostensibly provided him and bitcoin SV with a considerable injection of credibility and authority. So, on the surface, at least, bitcoin SV's price rise was the result of Craig Wright being seemingly “recognized” by the U.S. government as the true author of the bitcoin (BTC) white paper, and the market rushed to get its hands on the cryptocurrency he now backs.