Galaxy Research Director: Bitcoin Policy Institute officially intervened in the abandonment of Bitcoin case to push the court to dismiss the lawsuit

Alex Thorn, director of Galaxy research, disclosed in an article on the X platform that significant progress has been made in the abandoned Bitcoin case in which "Noah Doe" tried to obtain ownership of Nakamoto's Bitcoin through legal procedures. The Bitcoin Policy Institute (BPI) has formally applied to intervene as a defendant. The case and sought to push the court to dismiss the entire lawsuit. It is reported that BPI, represented by law firm White Case, not only applied to intervene in the case, but also submitted a proposed defense document, 15 positive defense reasons and plans to file a motion to withdraw the case. AlexThorn revealed that the BPI said it was qualified to intervene because the institution had long self-custody of part of the Bitcoin reserves it planned to hold indefinitely, and the plaintiff's theory that "long-term failure to use constitutes abandonment" may just include similar assets into the scope of future litigation. If the legal logic of this case is finally supported by the court, it may become a precedent in the future for depriving long-term self-custody users of their assets. Therefore, this lawsuit is not only related to Satoshi Nakamoto's related assets, but also related to the legal basis of the entire Bitcoin self-custody ecosystem.