A New York judge has stayed proceedings in a landmark lawsuit over the ownership of dormant, Satoshi-era Bitcoin, while scheduling a July 14 hearing to consider a proposed amicus brief. The case, one of the largest cryptocurrency-related legal disputes in history, involves claims over a staggering sum — with one filing describing a $226 billion valuation tied to early Bitcoin wallets.
The stay freezes all discovery and motions, allowing the court to review the amicus filing, which could introduce new legal arguments or factual claims. According to reporting, the dispute centers on nearly 40,000 Bitcoin wallets from the network’s earliest days, some of which reportedly moved after 14 years of dormancy. The scale of the assets — potentially worth over $200 billion at current prices — dwarfs previous crypto lawsuits and exceeds the market capitalization of most public companies.
The July 14 hearing marks the next concrete milestone, though it may address procedural questions like standing or jurisdiction rather than the core ownership claim. Legal observers note the case could set a precedent for how U.S. courts treat dormant cryptocurrency under property and estate laws, a question that grows more urgent as Bitcoin adoption expands. The outcome, whenever it arrives, may influence the handling of countless early-era wallets still untouched.
