BPI intervenes in lawsuit claiming Satoshi's BTC as 'abandoned property'

The Bitcoin Policy Institute (BPI) has intervened as a defendant in a U.S. lawsuit over the ownership of long-dormant BTC wallets, according to a post on X by Alex Thorn, head of research at Galaxy Digital. The plaintiff, Noah Doe, is asserting ownership of the assets, arguing that the holdings of Bitcoin founder Satoshi Nakamoto qualify as "abandoned property." The BPI is asking the court to dismiss the lawsuit. The institute stressed that if the plaintiff's argument is accepted in court, it could set a precedent for stripping self-custody users of their ownership, potentially shaking the entire ecosystem.