The man who gave up retrieving a hard drive containing 8,000 BTC plans to issue Ceiniog Coin and had previously intended to raise funds through the coin

ChainCatcher news, a British man who abandoned the search for a landfill containing 8,000 BTC hard drives stated that he will tokenize the Bitcoin in his lost wallet, converting it into 800 billion Ceiniog Coins (INI), locking the value at a 1:1 ratio with satoshis. Ceiniog Coin will be built on top of Bitcoin; implemented based on OP_RETURN; integrated with Stacks; Runes; Ordinals; and is set to launch by the end of 2025.

On May 29, the man also mentioned that he would tokenize 21% of the lost 8,000 Bitcoin wallet into LTT tokens, raising $75 million through multiple issuance tiers, with the issuance date during the TOKEN2049 conference in Singapore on October 1.

Note: This British man has announced twice that he will "tokenize" the Bitcoin he claims to own, raising doubts about the project's authenticity and actual control over the Bitcoin. Investors should be aware of the associated risks.