Bitcoin investor sues Newport council for ‘£600m lost fortune’
A man is in a legal battle with Newport council over a Bitcoin hard drive he claims is now worth an eye-watering £600m. James Howells is seeking to either gain access to the landfill site where he believes the hard drive is located or receive £495m in compensation.
During a recent court hearing in Cardiff, Newport council argued that Mr. Howells’ offer to donate 10% of the Bitcoin to the local community was essentially an attempt to bribe the council. However, Mr. Howells’ legal team dismissed this claim, asserting that their client has a rightful claim to access the site and retrieve his Bitcoin.
The judge presiding over the case has reserved his decision for a later date, leaving both parties in limbo. Mr. Howells contends that his former partner mistakenly disposed of the hard drive containing the valuable Bitcoin wallet back in 2013.
The council, on the other hand, maintains that they are not obligated to excavate the landfill site based on Mr. Howells’ request. They argue that the law states that any property deposited at landfill sites is owned by the local authority.
Mr. Howells’ legal team has emphasized the need for a full trial to determine the ownership of the hard drive, pointing out that it is not a “needle in a haystack case” but rather a matter that requires careful planning and expertise to locate the hard drive.
As the legal battle continues, the fate of the £600m Bitcoin hard drive remains uncertain. Stay tuned for updates on this ongoing saga that has captured the attention of Bitcoin enthusiasts and legal experts alike.
