- Stefan Thomas has two chances before he loses $232M.
- Stefan Thomas immediately stored the video in a digital wallet.
- The password was scribbled down on a sheet of paper and regrettably misplaced.
Stefan Thomas, a German-born programmer living in San Francisco, has just two chances left to guess the password before it is encrypted and lost forever, and the 7,002 Bitcoins are now worth more than $232 million.
Stefan Thomas received 7,002 Bitcoins when they were only worth $5 each in exchange for creating a video demonstrating how Bitcoin operated. He immediately stored the digital assets in a digital wallet. Thomas kept the wallet’s private keys on a password-protected tiny hard drive but that password was scribbled down on a sheet of paper and regrettably misplaced.
According to Thomas, he would lie in bed and think about it. Thomas told The New York Times that he would go to the computer with some new strategy, which wouldn’t work, and he would be desperate again. Surprisingly, this is not the first time someone has misplaced a Bitcoin valued at millions of dollars.
James Howells, a Welshman, unintentionally tossed away a hard drive containing almost $265 million worth of Bitcoin. Howells continues to look at the nearby dump in the hopes of someday discovering his hard drive.
In related reports, cryptocurrencies ended February with a bit of gain after a substantial rise started in 2023. Notably, the second-largest cryptocurrency on the market, Ether (ETH-USD), outperformed its giant peer Bitcoin (BTC-USD), in February, climbing 1.6% instead of Bitcoin’s more subdued 0.4% gain.
Bitcoin increased by almost 40% in January, marking an enormous year-to-date performance since 2013. Bitcoin watchers have been eagerly monitoring if the cryptocurrency’s price may surpass US$25,000 since the beginning of 2023.
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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.
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