James Howells Lost $750 Million in Bitcoin—Here’s How He Plans to Get It Back
The post James Howells Lost $750 Million in Bitcoin—Here’s How He Plans to Get It Back appeared first on Coinpedia Fintech News
How will you feel if you are denied permission to search for something valuable you have lost? Depressing, isn’t it? What if what you have lost is as valuable as $750 million? Highly disturbing, isn’t it? Then, it is the right word to define the current feeling of James Howells, who has lost a legal battle to recover a hard drive holding nearly 8,000 Bitcoins, worth approximately $750 million. Reports indicate that he is not ready to completely give up his hope to recover his lost fortune.
Howells’ Lost Bitcoin Fortune
It was in 2013 that the incident, which led to this legal battle, occurred. That day, Howells’ then-partner was carrying out a routine office cleanup, when she stumbled upon an old hard drive. Without giving it a second thought, she threw the hard drive into a waste bin. She was clearly unaware of the intensity of the damage that simple act could create in the life of her then-partner.
It would have become an easily repairable damage if the clutter discarded from the office of Howells that day had not been taken to a landfill controlled by the Newport City Council.
Council’s Refusal to Howells’ Plea Citing Environmental Concerns
When Howells, who was well aware of the severity of his loss, approached the council, requesting permission to access the landfill to recover his lost hard drive, he was welcomed by a leadership, which valued its commitment to protecting the environment more than its responsibility to help him recover his lost fortune. Importantly, the council’s stance on environmental protection was so strong that it even denied Howells’ offer to donate a share of the recovered Bitcoin.
It was in this state that the battle between Howells and the Newport City Council reached the corridors of the judicial system.
The Court’s Ruling on Howells’ Case
The court accepted the claims made by the council regarding its ownership of the landfill and its environmental permit, casting a thick shadow over Howell’s dream of winning the support of the court to recover his fortune.
The legal battle has come to an end lately, when Judge Keyser KC has dismissed his petition, citing that it has no realistic prospect of success at trial.
Tokenising the Lost Bitcoin of Howells
Howells have acknowledged the court’s decision. However, reports indicate that he is not ready to completely give up his hope of recovering his fortune.
His innovative counter-strategy, which he projects as his last resort to recover his lost fortune, is to create a new cryptocurrency tied to the lost Bitcoin’s value.
In conclusion, James Howells’ journey from Bitcoin mining to legal battles highlights the challenges of lost digital assets. His tokenisation plan could pioneer a new way to recover value, marking a unique turn in this ongoing saga.
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