Galaxy Research Director: The Bitcoin Policy Institute has officially intervened in the abandoned Bitcoin case and plans to push the court to dismiss all lawsuits

Galaxy Research Director Alex Thorn posted on the X platform revealing that there has been a significant development in the case of abandoned bitcoins, where "Noah Doe" is attempting to obtain ownership of Satoshi Nakamoto's bitcoins through legal proceedings. The Bitcoin Policy Institute (BPI) has officially applied to intervene in the case as a defendant and seeks to push the court to dismiss all lawsuits.

It is reported that BPI, represented by the law firm White & Case, has not only applied to intervene in the case but has also submitted a proposed defense document, 15 active defenses, and plans to file a motion to dismiss.

Alex Thorn disclosed that BPI claims it is qualified to intervene because the organization has long self-custodied a portion of its bitcoin reserves intended for indefinite holding. The plaintiff's theory that "long-term inactivity constitutes abandonment" could potentially include similar assets in future lawsuits. If the legal logic of this case is ultimately supported by the court, it may set a precedent for depriving long-term self-custody users of asset ownership, making this lawsuit not only related to Satoshi Nakamoto's assets but also concerning the legal foundation of the entire bitcoin self-custody ecosystem.