BlockBeats News, August 5th: The British man who gave up on retrieving 8000 BTC hard drives from a landfill site posted that he will tokenize the bitcoins in his lost wallet, converting them into 800 billion Ceiniog Coins (INI), pegged 1:1 to the value of a satoshi. Ceiniog Coin will be built on Bitcoin, based on OP_RETURN, integrated with Stacks, Runes, and Ordinals, and is set to launch by the end of 2025.
On May 29th, the man also announced that he would tokenize 21% of the lost 8000 BTC from his wallet into LTT tokens, aiming to raise $75 million through a multi-tiered offering, with the issuance scheduled for October 1st during the TOKEN2049 conference in Singapore.
BlockBeats Note: This British man has twice announced plans to "tokenize" his claimed Bitcoin holdings. The authenticity of the projects and actual control of the bitcoins are questionable, and investors should be aware of related risks.
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