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A $262 Million Mistake

Nobody loves trash. The same cannot be said of James Howells. He has offered Newport city council 25% of his total bitcoins stashed in his hard drive which, unfortunately, is now buried under a ton of soil. How many bitcoins? Seven Thousand Five Hundred (7,500) shining nuggets of digital gold.

Based on today’s price of around US$35,000 per bitcoin, this works out to approximately US$262 million dollar worth of the cryptocurrency. Mr Howells has even the backing of a hedge fund to pay for the excavation.

Unfortunately, the city council does not have the permission to execute such a request leaving Mr Howells staring at his costly mistake.

Talk about “so near yet so far”.

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SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

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