James Howells offering $72 million for the Coronavirus relief fund, should the wallet chứa 7.500 Bitcoin be found
Again the story of those who regretted the Bitcoin price rise. Specifically, according to South Wales Argus, James Howells, a 35-year-old Newport man who lost his BTC hardware wallet during a house cleaning in 2013. And he took the rather unexpected action: appealed to the city council to excavate a landfill site in search of his lost fortune.
James Howells appealed to the city council to excavate a landfill site in search of his lost fortune
Howells is the owner of a hardware wallet that holds 7,500 BTC, or $ 286.5 million. And when he discovered that he had lost his wallet, he requested to excavate the site in search of his lost bitcoin denied by the city’s authorities on several occasions.
This action was even more urgent when the Bitcoin price started rising close to $ 42,000. Howells made this bizarre plea to the authorities, providing 25% of a fortune worth about $ 72 million in the form of a Coronavirus relief fund if the wallet is found.
Sharing why he owns such a large amount of Bitcoin, Howell said he received the asset through a miner’s reward for the length of time he was able to mine a cryptocurrency using the CPU.
“It would not be difficult to recover the wallet, as the city uses an organized system in disposing of waste, which entails giving every thrash bag a reference number before it was buried in an open pit.”
“If I could access the landfill records, I could identify the week that I threw the hard drive away; I could identify the serial number of the bin that it was in, and then I could identify where the grid reference is located.”
Howell stated that the city does not need to worry about the cost or environmental hazard that may arise while conducting the project, as he has a suitable plan on how to go about the task.
Backed by a hedge fund, the owner of the lost wallet noted that he would keep a sizeable amount of fund in an escrow account for the city, should he fail to do things as planned. Although efforts to recover the lost funds have been constantly denied, Howell said he is confident the wallet will be recovered.
A spokesperson of the Newport City council stated:
“Cost, licensing permit, and environmental implication of excavating the site were the reason behind denying Howells’ request.”
There is no guarantee that the wallet will be found in perfect condition, which could be a futile endeavor.
You can see the BTC price here.
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