A legal fight tied to an effort by “Noah Doe” to claim ownership of Satoshi Nakamoto’s bitcoin has taken a new turn, according to a post on X by Galaxy head of research Alex Thorn. Thorn said the Bitcoin Policy Institute, or BPI, has formally moved to intervene as a defendant in the so-called abandoned bitcoin case and is seeking to have the full lawsuit dismissed.
BPI, represented by law firm White & Case, has not only filed its motion to intervene but also submitted a proposed answer, 15 affirmative defenses, and plans to file a motion to dismiss, Thorn said. The institute argues it has standing to intervene because it self-custodies part of its bitcoin reserves for an indefinite holding period.
That point goes to the center of the dispute. Under the plaintiff’s theory, bitcoin that has not been moved for a long time could be treated as abandoned. Thorn said BPI warned that, if accepted by the court, that legal theory could expose similar long-held self-custodied assets to future claims. In BPI’s view, the case reaches beyond any assets linked to Satoshi and could affect the legal footing of bitcoin self-custody more broadly.
Case takes a new turn
Galaxy head of research Alex Thorn said in a post on X that the abandoned bitcoin case tied to “Noah Doe” and an attempt to obtain legal ownership of Satoshi Nakamoto’s bitcoin has seen a major development.
According to Thorn, the Bitcoin Policy Institute (BPI) has formally moved to intervene as a defendant and is seeking to push the court to dismiss the entire lawsuit.
BPI files proposed answer and 15 affirmative defenses
Thorn said BPI, represented by White & Case, has gone beyond asking to enter the case. The institute also submitted a proposed answer, 15 affirmative defenses, and plans to file a motion to dismiss.
Self-custody issue at the center of the dispute
Thorn said BPI argues it has standing to intervene because it has long self-custodied a portion of its bitcoin reserves that it intends to hold indefinitely.
Under the plaintiff’s theory, assets left unmoved for a long period could be treated as abandoned. Thorn said BPI warned that if the court ultimately accepts that logic, similar assets could be drawn into future litigation. In that reading, the case would not only affect assets associated with Satoshi but also the legal foundation of bitcoin self-custody more broadly.
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