James Howells Confirms Plans to Tokenize Lost Bitcoin into Ceiniog Coin
James Howells, who lost access to 8,000 Bitcoin in a landfill in 2013, has clarified his intentions regarding the recovery of his assets. He denied rumors of abandoning the search and introduced a new strategy involving the creation of a cryptocurrency called Ceiniog Coin (INI).
Key Points
- Howells has not given up on recovering his lost Bitcoin, valued at approximately $923 million.
- He criticized Newport City Council for years of rejection regarding recovery proposals and legal talks.
- Howells plans to tokenize the 8,000 BTC into Ceiniog Coin, which will function as a Layer 2 token on Bitcoin.
- A total of 800 billion INI tokens will be created, each corresponding to one satoshi of the lost Bitcoin.
- Ceiniog Coin is expected to launch in late 2025, integrating with various Web3 projects.
- An ICO is planned for later this year, with hopes that the coin's market value will align with the lost Bitcoin's worth.
Howells began his quest after accidentally discarding a hard drive containing the keys to his Bitcoin. Over the years, he proposed various recovery strategies, including environmental clean-up plans and funding through sales of a portion of the Bitcoin’s value. Most proposals were rejected due to environmental concerns.
