Crypto user recovers long-lost private keys in Bitcoin to access $4M

A student has claimed to have accidentally discovered HODLed private keys starting in 2011, which will unlock more than $4 million in Bitcoin.

The Reddit user was able to cash out roughly $4.2 million in Bitcoin (BTC) after discovering the lost keys to 127 BTC on Dec. 22, when the crypto asset price was in the $23,000s, according to a throwaway account from BitcoinHolderThankU. In the midst of the bull run, they later liquidated the coins.

“I spent the next week figuring out how to safely and securely liquidate such a large amount of Bitcoin for the cheapest price possible,” said the Redditor. “I went back and forth between different [over-the-counter principal desks] and ultimately ended up selling all 127 Bitcoins for a price of $33,439.02 per coin minus a 0.15% fee. The net was roughly $4.24 million.”

Earned Bitcoin through surveys, watching videos, and doing tasks

In 2011 or 2012, they claim to have earned Bitcoin through “surveys, watching videos, and completing random tasks” to eventually use the coins for the online game DarkOrbit to buy in-game currency. Allegedly, the private keys were never really missing. Only forgotten on an older Dell computer model as BitcoinHolderThankU ended up not buying the currency.

Unfortunately, by not holding for just a few more weeks, if the Redditor’s account is to be believed. They missed out on $1 million in additional profit. The price of Bitcoin has passed $41,000 since December, reaching new all-time highs. BitcoinHolderThankU admitted that if the same situation had played out again, “they would not have sold all 127 Bitcoins.”

“To give myself credit, I did HODL for 8-9 years. Which is more than the vast majority of crypto users,” they said. “I definitely would’ve done things differently if I were given a second chance.”

Despite their sudden fortune, the Redditor says “expensive luxuries” will be avoided. And plans to put the bulk of the funds into the S&P 500, adding:

“I don’t want to end up like one of those people who win the lottery and blow it all in a matter of months/years […] I’m going to continue living my life normally as I was on December 21st and every day before that.”