British Man Plans to Tokenize Lost Bitcoin Wallet Worth £6.2 Billion

August 5, 2025 – Foresight News

British IT engineer James Howells, famously known for accidentally discarding a hard drive containing around 8,000 Bitcoins — now worth approximately £6.2 billion — has unveiled plans to tokenize the lost wallet, marking a bold new chapter in his decade-long quest to recover the funds.

According to Foresight News, Howells announced that he will launch a new token called Ceiniog Coin (INI), converting the wallet’s BTC holdings into 800 billion INI tokens. Each token will be pegged 1:1 to the value of a Satoshi, Bitcoin's smallest unit. The token’s structure will be built on advanced Bitcoin layer integrations including Stacks, Runes, and Ordinals, and powered by OP_RETURN technology.

Despite making numerous attempts over the past 12 years to work with the Newport City Council—including public proposals, legal mediation, and offers exceeding £25 million to dig the landfill where the hard drive is believed to be buried—Howells has faced continued rejection.

Now, he says, he will proceed without council approval, leveraging blockchain innovation to create economic and digital value from the lost asset.

The INI token launch is expected later in 2025, and is aimed at both developers and the wider crypto community interested in speculative value, Bitcoin lore, and decentralized asset recovery initiatives.

This move has stirred debate in both crypto and legal circles, raising questions about digital ownership, access rights, and the evolving utility of tokenization in real-world cases.

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