Lost Bitcoin Fortune: James Howells Considers Buying Landfill Site

James Howells, an early Bitcoin miner, is considering purchasing a public landfill in Newport, South Wales, where he believes his lost cryptocurrency, now worth over £620 million ($768 million), is buried.

The Story Behind the Lost Bitcoin

Howells’ claim revolves around a hard drive that his former partner allegedly discarded in 2013 at the landfill. The device is said to contain 7,500 BTC, which Howells mined in 2009 when Bitcoin was new and traded for mere pennies.

Despite a court dismissal last month, Howells is still seeking to recover his lost fortune. He has repeatedly petitioned or sued Newport authorities for access to the site, offering the council a share of the fortune in return.

Challenges Ahead

The landfill contains over 1.4 million tonnes of waste, but Howells asserts that his drive is likely buried within a 100,000-tonne area, citing an investigation conducted by a team he hired. However, local authorities plan to shut down the site after a court battle and convert sections of it into a solar farm during the 2025-2026 financial year.

“I’m shocked by the news, especially since it claimed at the High Court that closing the landfill to allow me to search would have a huge detrimental impact on the people of Newport,”

Howells expressed his disappointment to the BBC, stating that he is considering escalating the case to the Supreme Court and has not ruled out purchasing the landfill outright.

Potential Value of the Lost Bitcoin

Howells believes the lost funds could reach a $1.2 billion valuation by 2026 if Bitcoin continues its uptrend. This highlights the potential value of the cryptocurrency and the importance of securing and storing it safely.

Lessons Learned

This story serves as a reminder of the importance of properly securing and storing cryptocurrency. Here are some tips to avoid losing your Bitcoin:

  • Use a secure wallet and keep your private keys safe.
  • Make regular backups of your wallet and store them in a secure location.
  • Consider using a hardware wallet for added security.
  • Keep your software and wallet up to date to ensure you have the latest security features.

Stay informed about the latest developments in the world of cryptocurrency by following Global Crypto News.

Post Views: 1