A student has claimed to have found private keys accidentally starting HODLed in 2011, which will unlock more than $ 4 million in Bitcoin.
According to a disposable account from BitcoinHolderThankU, the Reddit user could spend about $ 4.2 million in Bitcoin (BTC) after finding the lost keys to 127 BTC on December 22, when the price of the crypto assets was in the $ 23,000 mark. They later liquidated the coins in the middle of the bull run.
“The following week I tried out how to securely liquidate such a large amount of Bitcoin for the lowest possible price,” said the Redditor. “I went back and forth between different ones [over-the-counter principal desks] and eventually sold all 127 Bitcoins at a price of $ 33,439.02 per coin minus a 0.15% fee. The net amount was approximately $ 4.24 million. “
They claim Earned Bitcoin in 2011 or 2012 through “surveys, watching videos, and completing random tasks” to eventually use the coins to purchase in-game currency for the online game DarkOrbit. The private keys were reportedly never really missing, they were simply forgotten on an older model Dell computer because BitcoinHolderThankU did not buy the currency.
Unfortunately, if we are to believe the Redditor’s account, they lost $ 1 million in extra profit by not holding on for just a few more weeks. Since December, the Bitcoin price has passed $ 41,000 to reach new record highs. BitcoinHolderThankU admitted that they “wouldn’t have sold all 127 Bitcoin” if the same situation had happened again.
“To honor myself, I did HODL for 8-9 years, which is more than the vast majority of crypto users,” they said. “I certainly would have done things differently if I had been given a second chance.”
Despite their sudden fortunes, the Redditor says they will avoid “expensive luxuries” and plans to put most of the money into the S&P 500, adding:
“I don’t want to end up as one of those people who win the lottery and blow everything up in a few months / years […] I am going to continue my life normally as I was on December 21 and every day before that. “
Unfortunately, not all stories of lost or forgotten keys have such a happy ending. There could still be more than $ 285 million in Bitcoin lost somewhere in a British rubbish dump after an IT employee accidentally threw away his personal laptop with his keys in 2013.