The New York lawyer who filed three weeks ago for a trademark on the use of the word Bitcoin “in financial services, namely, providing a virtual currency for use by members of an online community via a global computer network” is withdrawing the application today after a flood of angry anonymous emails.
And immediately filing applications for the trademark in other countries.
Michael Pascazi, the Fishkill-based attorney, filed the application on behalf of Magellan Capital Advisors LLC, a corporation that shares his address but which he maintains is a separate entity although “there’s interrelations. This is not someone off the street.”
Bitcoin enthusiasts were incensed at the application’s claim to ”first use” of the word Bitcoin in commerce on June 22, 2011, the date the application was filed. As evidence, Mr. Pascazi submitted a letter from Celine Pascazi offering to sell Bitcoins for $17.50, also dated June 22. Bitcoiners say the digital currency has been in circulation since as early as 2009.
Mr. Pascazi is aware that Bitcoin has existed for a while. But he was skeptical that its use in commerce could be proven in court, he said.