Lost access to bitcoin worth $240 million
Programmer Stefan Thomas received 7,002 bitcoin in 2011 as a payment to create a video explaining how the cryptocurrency works.
In the years that have passed, he has lost his password to the device he used to stores his coins, using 8 out of his allotted 10 attempts to access the hard drive - after which the drive is programmed to seize up for good, and his sizable fortune will be lost forever.
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Price Update
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In the news
Chief Investment Strategist, Michael Hartnett, compared the cryptocurrency’s recent rally to other bubbles, emphasizing the “increasingly speculative” behavior of bitcoin investors.
As the market’s rise began to taper off earlier in the week, skeptics chimed in to predict impending doom for the Bitcoin market - however, markets have stabilized, and Bitcoin is still trading over 90% above where the price was just a month ago.
Sleeping Bitcoin worth $40 million move
On January 10, another string of 20 bitcoin block rewards from 2010 was spent after sitting idle for over ten years.
1,000 Bitcoins, worth over $39 Million dollars were transferred on the 12th anniversary of Bitcoin’s genesis block launch, split into groupings of 10 BTC and dispersed to different addresses.
Authorities allege Darkmarket had almost 500,000 users and more than 2,400 sellers; seeing more than 4,650 bitcoin and 12,800 monero changing hands over the course of the market’s run.
With Darkmarket’s alleged operator arrested over the weekend, authorities are combing the site’s servers for new leads on moderators, buyers, and sellers in the ongoing investigation.
Cramer views bitcoin and gold as insurance, against inflation, stating "When you have something that’s totally scarce in an era where people fear inflation and don’t believe in government bonds and they don’t believe in governments in general, then this bitcoin suddenly has allure."
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