TL;DR
- Billy Markus, co-founder of Dogecoin, reacted on X to news about James Howells, who lost 8,000 BTC over a decade ago.
- James Howells lost a hard drive containing 8,000 Bitcoins in 2013; at current market value, those bitcoins are worth roughly $720 million.
- Markus currently holds only 0.003 BTC ($267.48), while Tim Draper purchased Bitcoin at $4 more than 10 years ago.
Billy Markus, co-founder of Dogecoin and known on social media as Shibetoshi Nakamoto, reacted to news about an individual who lost 8,000 BTC over a decade ago. Markus shared an image on X showing a landfill and a person sitting at a computer, with a headline stating that after 12 years, the person “finally stops searching” for his Bitcoin wallet. Markus commented: “I know the feeling.”
The individual identified is James Howells, who in 2013 lost a hard drive containing 8,000 BTC. At current market value, those bitcoins would be worth approximately $720 million. The loss came to light following the publication of Markus’s image, and although media reports suggest Howells has stopped searching for the bitcoins, the accounts are inconsistent.
Markus Missed the BTC Opportunity
Markus revealed that he currently holds only 0.003 BTC, equivalent to $267.48, confirming that he did not accumulate significant amounts of Bitcoin in its early years despite his early involvement in the crypto industry.
Meanwhile, tech investor Tim Draper shared details about his initial Bitcoin purchases. Draper acquired BTC at $4 per coin more than 10 years ago, investing $250,000 after being explained how digital currency could benefit people without access to traditional banking. Draper also invested the same amount in CoinLab. He lost his first BTC during the Mt. Gox hack but later purchased more.
The news highlights the scale of early Bitcoin holdings and how losses or early decisions affect the current composition of wealth. Markus and Draper illustrate different paths: Markus with low accumulation and missed opportunity, Draper with reinvestment and expansion of his initial positions.
Today, 8,000 Bitcoins are valued at roughly $731 million. Bitcoin continues to maintain an active market and high liquidity through ETFs and other regulated instruments
