Fake News Helps Boost the Price of Bitcoin SV (BSV)
The price of Bitcoin SV (BSV), the Bitcoin Cash fork created by Craig Wright, surged around 50% on Thursday after a fake report was released that claimed that Wright had proven he is Satoshi Nakamoto.
As detailed in a recent article by CoinDesk, scammers masquerading as Chinese news site Coinbull published a fake report indicating that Wright had transferred Bitcoin funds from Satoshi’s genesis wallets.
This ultimately triggered alerts that read as followed, “CSW transferred 50K BTC from the biggest BTC wallet to Binance, which confirmed he is the real Satoshi. As such CZ will re-list BSV and make an official apology on Twitter.”
Notably, Binance delisted Bitcoin SV from its platform after Craig Wright threatened numerous members of the crypto community with libel lawsuits related to questioning Wright’s claim of being Satoshi.
Coinbull responded to the fake report by stating, “Recently, we have received feedback from users that certain people had maliciously sent out photoshopped Coinbull news alert to spread rumors about Binance and CSW which had bad consequences. We remind our users again not to trust any rumors and not to spread any rumors. Thank you for your support.”
However, the impact has already been felt as BSV is currently up over 49% to $ 218.95, giving the altcoin a $3.9 billion market cap.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.