Student rediscovers long-lost Bitcoin private keys: earns $4 million

Student rediscovers long-lost Bitcoin private keys: earns $4 million

A Reddit user tells of finding an old wallet containing 127 BTC, which he sold for $4.24 million

A student tells of finding the private keys to a wallet accidentally created in 2011, containing over $4 million in Bitcoin.

On Reddit, user BitcoinHolderThankU says he was able to get his hands on $4.2 million through the sale of 127 Bitcoins (BTC):

„I spent the next week trying to figure out how to safely liquidate such a large sum of Bitcoin at the lowest possible price. I tried various over-the-counter desks, and eventually managed to sell all 127 BTC at a price of $33,439.02 per coin, with a 0.15% commission. The net gain was 4.24 million.“

The user recounts that he earned such Bitcoins between 2011 and 2012 by „completing surveys, watching videos, and completing various activities,“ so that he could purchase the virtual currency for the online game DarkOrbit. However, this transaction never happened, and the 127 BTC remained inside an old Dell computer until today.

The user could have earned another million dollars if only he had waited a few more weeks: the price of Bitcoin recently touched $42,000. BitcoinHolderThankU admits that, in hindsight, he shouldn’t have sold all of his BTC:

„In my defense, I’ve been HODLing for 8-9 years – that’s a lot more than the vast majority of crypto users. I definitely would have done things a lot differently on second thought.“

Despite his sudden wealth, the user says he will avoid „expensive luxuries“ and invest most of his funds in the S&P 500:

„I don’t want to end up like those people who win the lottery and spend it all in a matter of months or years. […] I’m going to continue to live my life the way I always have.“

Unfortunately, not every story about lost or forgotten keys has a happy ending. In a garbage dump somewhere in the UK, there may still be $285 million worth of Bitcoin: a British computer scientist tells of mistakenly throwing away his personal laptop, containing the private keys to numerous BTCs, in 2013.