The court dismissed the inmate's $354 million Bitcoin claim

According to Decrypt, the U.S. Court of Appeals on Tuesday dismissed Florida man Michael Prime's lawsuit attempting to recover over $354 million in Bitcoin.

Prime claimed that the Bitcoin was stored on a hard drive that authorities destroyed when he was arrested in 2019 for forgery and identity theft. The court ruled that Prime waited too long to file his claim and that he had previously told investigators, probation officers, and judges that he held almost no cryptocurrency, contradicting his later assertion of owning "close to 3,443 Bitcoins." Federal agents ended their search for the Bitcoin based on his earlier statements and subsequently destroyed the equipment, including the orange hard drive in question. Prime was sentenced to over five years in prison in 2020.