A British Bitcoin investor is suing his local council for $557 million after they refused to allow him to dig up a landfill site.
landfill site where he believes 8,000 BTC are buried.
The investor, James Howells, accidentally threw away the hard drive containing the BTC in 2013.
He has been trying to get permission to dig up the landfill site ever since, but the council has refused, citing environmental concerns.
Howells is now taking legal action, arguing that the council's decision is unfair and unreasonable.
Howells says that the BTC is worth around $205 million at today's prices, but that it was worth over $550 million in November 2021 when Bitcoin's price hit an all-time high.
He is suing for damages worth the value of the BTC at its peak price, plus legal costs.
Howells is also seeking a judicial review of the council's decision to prevent him from accessing the landfill site.
The council has defended its decision, saying that an excavation would be harmful to the environment.
They say that the landfill site is a protected habitat for wildlife and that digging it up would release harmful pollutants into the atmosphere.
The council has also said that it is not responsible for Howells' lost Bitcoin and that he should have taken better care of it.
It is a complex case with no clear precedent, so it is difficult to say how the judge will rule.
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