A Student Finds Private Keys Accidentally HODLed Starting As Early As 2011 That Will Unlock More Than $4 Million In Bitcoin
A Student Finds Private Keys Accidentally HODLed Starting As Early As 2011 That Will Unlock More Than $4 Million In Bitcoin
January 11, 2021
A Student Finds Private Keys Accidentally HODLed Starting As Early As 2011 That Will Unlock More Than $4 Million In Bitcoin
A Student Finds Private Keys Accidentally HODLed Starting As Early As 2011 That Will Unlock More Than $4 Million In Bitcoin
January 11, 2021

A student has claimed to have found private keys accidentally HODLed starting as early as 2011 which will unlock more than $4 million in Bitcoin. Even with their newfound fortune, the student said that they will avoid “expensive luxuries” like a new car or house.

It has been reported according to a throwaway account from BitcoinHolderThankU that the Reddit user was able to cash out around $4.2 million in Bitcoin (BTC) after finding the lost keys to 127 BTC in December 22, when the price of the crypto asset was in the $23,000s.

However, they later liquidated the coins in the middle of the bull run.

The Redditor said:

“I spent the next week figuring out how to safely and securely liquidate such a large amount of Bitcoin for the cheapest price possible. I went back and forth between different [over-the-counter principal desks] and ultimately ended up selling all 127 Bitcoins for a price of $33,439.02 per coin minus a 0.15% fee. The net was roughly $4.24 million.”

The report said that they claim to have earned Bitcoin in 2011 or 2012 through “surveys, watching videos, and completing random tasks” to use the coins for purchasing in-game currency for the online game DarkOrbit.

ALSO READ :  Burj Khalifa Developer Emaar to Launch Blockchain Rewards Token

The private keys were reportedly never really missing, just forgotten on an older model Dell computer as BitcoinHolderThankU ended up not purchasing the currency.

It has been analyzed that if the Redditor’s account is to be believed, they missed out on $1 million in additional profit by not holding for just a few more weeks. Since December, the price of Bitcoin has passed $41,000 to reach new all-time highs.

BitcoinHolderThankU admitted that they “would not have sold all 127 Bitcoin” if the same situation had played out again.

They said:

“To give myself credit, I did HODL for 8-9 years which is more than the vast majority of crypto users. I definitely would’ve done things differently if I were given a second chance.”

Likewise, the Redditor said that they will avoid “expensive luxuries” and intends to put the bulk of the funds into the S&P 500 Despite their sudden fortune by adding:

“I don’t want to end up like one of those people who win the lottery and blow it all in a matter of months/years […] I’m going to continue living my life normally as I was on December 21st and every day before that.”

Thus, there may still be more than $285 million in Bitcoin lost somewhere in a UK garbage dump after an IT worker accidentally threw out his personal laptop with his keys in 2013.

ALSO READ :  New Zealand Businesses To Submit Information On Their Clients' Digit Asset Usage To The Inland Revenue Department

Source: Cointelegraph


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.