In Ireland, there a fishing rod of a drug criminal is the talk of the day. Why? Well, this rod is worth 53.7 million euros in bitcoin. Money that the government wanted to confiscate, but to which there is no access.
Six thousand bitcoin
The fact is: the Irishman was arrested one day for possessing cannabis. His landlord then decided to empty his home and bring all sorts of things to the landfill. Among those things was the fishing rod, in which this criminal had just hidden the access codes to his digital wallets. If you have six thousand bitcoin, then that means a lot of fishing.
The government knew about the money, so the Criminal Assets Bureau (CAB) had already seized these virtual money bags. However, they have become unreachable now that the fishing rod and therefore those access codes can be found somewhere in a landfill. The Irish Times writes that the CAB is not completely disappointed: there are still bitcoins worth 1.5 million euros inaccessible digital wallets of the man, and there were 100,000 euros in cash. The criminal can whistle at it, while he spends the next five years in jail.
The Irish, by the way, hold hope: agents think that one day big steps will be taken in digital innovation that will enable them to reach the man’s virtual stock exchanges. In any case, the criminal who bought the crypto currency in 2011 and 2012 after successfully growing cannabis plants has already benefited from his investment. He bought a two-seater gyrocopter and spent time learning how to fly the thing himself.
We recently wrote about why 2020 could well become an important year for bitcoin. In any case, the month of May will be important, because then the halving will take place. That means that what bitcoin miners receive for mining one block decreases by 50 percent. In short, where they previously received 12.5 bitcoins for a block, that will soon only be 6.25.