Give Up on Retrieving 8000 BTC Hard Drive, British Man Plans to Issue Ceiniog Coin, Previously Planned Coin Offering

BlockBeats News, August 5th, the British man who gave up retrieving a landfill containing 8,000 BTC hard drives posted that he will tokenize the Bitcoin in his lost wallet, converting it into 800 billion Ceiniog Coins (INI), locking the value of a Satoshi in a 1:1 ratio. Ceiniog Coin will be built on Bitcoin; based on OP_RETURN; integrated with Stacks; Runes; Ordinals; and will be launched by the end of 2025.

On May 29th, the man also claimed that he would tokenize 21% of the lost 8,000 BTC in his wallet into LTT tokens, raising $75 million through multiple issuance levels, with the issuance date set for October 1st during the TOKEN2049 conference in Singapore.

BlockBeats Note: This British man has twice announced his intention to "tokenize" his claimed Bitcoin holdings. The authenticity of the projects and the actual control of the Bitcoin is questionable, and investors should be aware of the related risks.