An opposing party has emerged in a New York lawsuit over ownership of long-dormant bitcoin worth more than $200 billion, including holdings believed to belong to Satoshi Nakamoto.

On July 2, blockchain outlet CryptoSlate reported that a person using the pseudonym John Doe 33 filed a notice to appear with the New York State Supreme Court on June 30 and signalled he would respond to the case.

The lawsuit was filed by ABC Company, XYZ Company and a plaintiff using the pseudonym Noah Doe. The plaintiffs are asking the court to recognise their ownership of about 3,799,000 bitcoin tied to 39,069 inactive addresses, treating the coins as lost property under New York’s abandoned property law. The wallets include holdings widely discussed as belonging to Satoshi Nakamoto and early bitcoin miners. At current market prices, the value exceeds $200 billion. The plaintiffs, however, set the amount in dispute at $10 due to procedural and jurisdictional requirements.

John Doe 33’s appearance changes the structure of a lawsuit that had been proceeding against inactive blockchain addresses. He identified himself as a “natural person and real human” and said he has constitutionally protected property rights. “I am not a bitcoin blockchain address string or digital wallet, a line of source code, or other form of inanimate data,” he said.

The key issue is whether dormant wallets can legally be treated as lost property. The plaintiffs’ argument seeks a transfer of ownership based on the addresses having remained inactive for a long period. The response directly challenges whether inactivity alone can be taken as proof of abandonment or loss.

John Doe 33 has asked the court to let him respond anonymously. He said large cryptocurrency holders face risks of doxxing, extortion and physical threats, explaining his use of a pseudonym. He also said the name he used does not match the 33rd bitcoin address in the plaintiffs’ evidence list or any particular numbered entry. He argued that the plaintiffs’ “number tags” refer to inanimate blockchain addresses, while he appeared in court as a person.

The industry is also viewing the filing as a turning point. Alex Thorn (알렉스 손), head of research at Galaxy Digital, said “a real human has stepped forward as the first respondent” in a lawsuit claiming ownership of Satoshi coins, adding that it has moved beyond merely submitting an opinion to a stage of direct dispute.

The lawsuit had already been under pressure from on-chain activity and legal rebuttals. About 34,335 bitcoin have moved from around 52 addresses included in the complaint, worth more than $2 billion at current prices. The transfers have been seen as weakening the argument that long inactivity itself means abandonment or loss. Bitcoin wallets can remain unmoved for long periods for many reasons, including long-term holding, cold storage, loss of keys and deliberate non-trading.

In late May, pro-bitcoin lawyer Ian Cohen (이언 코언) submitted a court opinion criticising the legal theory of the lawsuit itself. “The plaintiffs’ theory is wrong on every level of text, structure, constitution and practice,” he said, arguing that Article 7-B of New York’s personal property law was designed on the premise of physical items actually found by a person. “Inactivity on a public ledger is not loss,” he said, adding that many holders may choose to trade very little while safely storing private keys.

The case is likely to develop along two tracks. The main issues are whether the court will allow John Doe 33 to participate anonymously and whether his accompanying motion to dismiss can halt Noah Doe’s claims at an early stage. Depending on the outcome, a path could open for other potential holders to appear in court without exposing their identities, while disputes over how far abandoned property law can be applied to dormant bitcoin addresses are also expected to intensify.