Bitcoin Policy Institute Seeks to Intervene as Defendant in New York 'Noah Doe' Case

Bitcoin Policy Institute (BPI) filed an application on July 10 local time with the New York State Supreme Court to intervene in the “Noah Doe” case and participate in the lawsuit as a defendant, according to Foresight News. Galaxy Research head of research Alex Thorn said BPI is represented by the law firm White & Case and submitted a proposed answer, 15 affirmative defenses, and plans to file a motion to dismiss. The “Noah Doe” case is a New York State lawsuit in which an anonymous plaintiff cites New York’s Abandoned Property Law to seek legal ownership of about 3.8 million dormant BTC, including holdings attributed to Satoshi Nakamoto. In its intervention request, BPI argued that it self-custodies a set of Bitcoin reserves intended for long-term holding that match the plaintiff’s definition of “abandoned” assets. BPI said that if the plaintiff’s theory is accepted, BPI’s holdings would face direct risk, giving it standing to intervene. BPI’s central arguments include that learning a public address is comparable to learning someone’s account number and does not establish ownership of assets; that wallets do not exist on-chain; and that long-term holding without selling does not equal abandonment but reflects holding. Other parties have also moved to participate in the case. A defendant identified as “John Doe 33” has appeared as a self-represented litigant and argued the lawsuit is invalid. The Digital Chamber submitted an amicus brief opposing the plaintiff’s legal claims. A Bitcoin attorney identified as @btclawyerguy also submitted an amicus brief, and a hearing on a “show cause order” is scheduled for next week.