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- A Bitcoin holder is threatening to sue the city council of his residence after they refused him access to dig up a hard drive containing millions of Bitcoins.
- According to the Bitcoin user, the amount of Bitcoin contained in the hard drive is estimated to be valued at 192 million euros at this time.
According to local media outlets, a Bitcoin holder, who is a native of Wales, disposed of a hard drive that contained Bitcoins worth millions of euros. The act was carried out ten years ago, and the Bitcoiner in question is ready to regain access to his Bitcoin fortune.
The Bitcoiner, who goes by the name James Howells, explains that he has to dig up a landfill to regain access to the treasure. As a result, Howells is looking to press charges, as it might be the only way out for him to regain his Bitcoin fortune. Contained in the hard drive is 8,000 worth of Bitcoin, which would be valued at more than 192 million euros at press time.
While the Bitcoiner is convinced that the hard drive is underground, he remains uncertain about the exact location of the drive.
It comes as no surprise that the funds stored in the cold storage are worth the aforementioned amount, as early Bitcoin holders seemed to have benefited greatly from the early bull run recorded at the time.
Depending on the state of the cryptocurrency market, Howells’ Bitcoins could increase or decrease in value in the long term, if the asset is not converted on time.
The Bitcoiner is hoping to sue the city council for more than 500 million euros
Outside of the city council’s pushback, Howell could also deal with other environmental setbacks that could’ve disintegrated the hard drive long ago. In addition to this, the safety of the device is also questionable, as other entities may be on the hunt for the Bitcoin fortune.
Speaking to the Telegraph, Howells explains that the court might be the only way out for him, although he explains that he is very open to settling outside the court. He added.
I’ve tried everything for ten years, but they won’t cooperate. That’s why we now have to go to court,” he told The Telegraph. However, the council “doesn’t want to talk about it seriously”: “It doesn’t matter what it’s about, whether it’s Bitcoin, gold or diamonds – not talking about it at all is idiotic.
James Howells is hoping to get more than 500 million rupees from the city’s council, as he claimed that the Bitcoins stored in the hard drive were worth that amount at its peak. He said.
How would you feel if someone withheld your property? Wouldn’t you want it back? Wouldn’t you try anything to get it back? How can you explain this to taxpayers in the current situation?
