tl;dr
A UK man, James Howells, is suing the City Council of Newport for $647 million for not allowing him to retrieve a hard drive containing 8,000 Bitcoin, worth over $500 million, from a landfill. The hard drive was mistakenly thrown away and recovering it would require excavating 100,000 tons of garbag...
A UK man, James Howells, is suing the City Council of Newport for $647 million for not allowing him to retrieve a hard drive containing 8,000 Bitcoin, worth over $500 million, from a landfill. The hard drive was mistakenly thrown away and recovering it would require excavating 100,000 tons of garbage.
Howells claims to have tried to contact the council for over 10 years and offered them 10% of the recovered Bitcoin, but the council has rejected the proposal citing environmental concerns. They stated that excavation is not possible under their environmental permit and would have a significant negative impact on the surrounding area.
A UK man is reportedly suing his city council for hundreds of millions of dollars for not allowing him to dig up his old hard drive containing Bitcoin (BTC) from a landfill. According to a new report by WalesOnline, James Howells has filed a $647 million lawsuit against the City Council of Newport for blocking him from recovering his hard drive for over a decade after a misunderstanding caused it to be dumped in a recycling center.
Howells says that he attempted to contact the council for over 10 years but was largely ignored, going as far as funding and assembling a team that could pull off the recovery – which would require excavating 100,000 tons of garbage – as well as offer the council 10% of the recovered Bitcoin. According to Howells, the hard drive contains 8,000 Bitcoin currently worth over $500 million.
His partner at the time accidentally threw away a trash bag containing his BTC wallet after he placed it there while clearing out some equipment. Howells’ team said that if the hard drive were to be found, there would be about an 80% chance the coins would be retrievable. However, the council has rejected his proposal to launch a search citing environmental concerns.
As stated by a council spokesperson in the report, “The council has told Mr. Howells multiple times that excavation is not possible under our environmental permit and that work of that nature would have a huge negative environmental impact on the surrounding area. The council is the only body authorized to carry out operations on the site.”
More about MicroStrategy Incorporated
MicroStrategy Incorporated Summary
MicroStrategy Incorporated provides global business analysis software and services. The company is headquartered in Tysons Corner, Virginia.
Sector: TECHNOLOGY
Industry: SERVICES-PREPACKAGED SOFTWARE
Market Cap: 43,076,686,000
Dividend Yield: None
Beta (5Y Monthly): -1.87
EPS: 2.901
PE Ratio: -0.437
Revenue: 480,634,000
Stock Price: $201.97
1-Year Change: -0.775
1-Year Change (%): -0.074
More about General Dynamics Corporation
General Dynamics Corporation Summary General Dynamics Corporation
General Dynamics Corporation (GD) is an American aerospace and defense corporation. It is headquartered in Reston, Fairfax County, Virginia.
Industry
Manufacturing, Ship & Boat Building & Repairing
Market Cap
$82.28 billion
Current Stock Price
$23.36
Dividend Yield
5.48%
P/E Ratio
12.82
52-Week High
$164.48
Beta
0.0789
Revenue
$44.946 billion
Operating Margin
32.578%
EPS
$0.207
Forward Annual Dividend Rate
$0.18
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Technical Analysis Report
Key Takeaways:
- The stock has broken above its 50-day moving average, indicating a potential bullish trend.
- The Relative Strength Index (RSI) is currently at 65, suggesting a moderately overbought condition.
- The Bollinger Bands show a widening pattern, indicating increased volatility in the near term.
- The stock price has formed a classic head and shoulders pattern, signaling a potential trend reversal.
Conclusion:
Based on the technical indicators, the stock is exhibiting signs of a bullish trend but with increased volatility and a possible trend reversal. Traders should closely monitor the support and resistance levels for potential entry or exit points.