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bitcoin hard drive fire
Nexo

Lost And Found: Man Recovers Bitcoin From Hard Drive Burned In A Fire

Tony Spilotro by Tony Spilotro
1 year ago
in Bitcoin
0
Advertisement

Bitcoin is once again in the news, the subject of internet chatter, and watercoolor talk. It is for the first time also the darling of Wall Street, beating out every other financial asset under the sun. The media blitz, rising price, and widespread FOMO has those who have lost Bitcoin in the past feeling the sting even harder recently, prompting them to give it another go in attempting to recover their BTC.

Horror stories have spread recently of $240 million worth of BTC being locked away with only two password attempts remaining. However, a Twitter user who also lost their crypto has a story to share with a much happier ending.

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Burnt Hard Drive Containing Bitcoin Recovered, Man Becomes Millionaire

News each week about Bitcoin price reaching a new previously unthinkable high has dominated the airwaves for months. The cryptocurrency’s incredible rise in 2020 had everyone talking by the end of the year, and come 2021 FOMO went into overdrive.

RELATED READING | RECENT BITCOIN FOMO SENDS LOST KEY HOLDERS SCRAMBLING, LOSING SLEEP

Things may now be cooling off temporarily, but the renewed interest and subsequent media attention brought Bitcoin back into the forefront of the minds of not only investors, but those who have sorely lost BTC over the years.

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bitcoin lost btc

Bitcoin reaching more than $40,000 prompted old holders with lost BTC to try, try again | Source: BTCUSD on TradingView.com

A story was run in The New York Times regarding an early crypto pioneer and former Ripple CTO who had only two password attempts left to recover over 7000 BTC. This sad fellow isn’t the only person who has lost their cryptocurrencies over the years, typically via misplacing a private key or seed phrase, or losing access to a hard drive or USB wallet.

However, not all stories end up so woeful. One Twitter user recently declared that they were “close” to recovering all their lost BTC from a hard drive that “caught on fire in 2011.” In a follow up, they’ve revealed that their attempt was successful, and they are now a “millionaire.”

bitcoin lost btc

This lucky gentleman on Twitter was able to recover his lost cryptocurrency. He's now a "millionaire." | Source: Twitter

Blockchain data firm Chainalysis surmises that nearly 20% of the entire circulating supply has been lost, based on stagnant wallets dating back to the early days of the cryptocurrency. Back then, Bitcoin was practically worthless and few could have envisioned what it would ultimately become today.

RELATED READING | BITCOIN WALLET MAKER LEDGER WOES WORSEN WITH ROGUE SHOPIFY DATA THEFT

When each coin was worth pennies, they were treated as such and not taken care of as well as they could be. The price early Bitcoin pioneers are paying for the lack of care is unmatchable.

Featured image from Deposit Photos, Charts from TradingView.com
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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