August 5, 2021

Bitcoin Whale Mircea Popescu Passes: What Happens To His $1B in BTC?

5 min read

The famous Mircea Popescu is allegedly dead. It’s reported that, besides Satoshi Nakamoto, he was the only bitcoin millionaire. He began that report. Where are those coins and what will happen to them?

The news of his death arrived by means of report from Costa Rica, his country of house. This post says, “A 41 years of age foreign national passed away by drowning at Playa Hermosa de Garabito, Puntarenas, on Wednesday early morning. The Organismo de Investigación Judicial (OIJ) verified the identity of the male as Mircea Popescu, of Polish origin.

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Although he’s actually Romanian, the whole Bitcoin community assumes it’s him and is currently mourning Popescu. He was a staple in the early days of the leading cryptocurrency and it’s recognized as “the daddy of harmful maximalism.” As you’re probably thinking, he was a controversial figure. Bitcoin.com informs:

Mircea Popescu, a Romanian national and noted Bitcoin maximalist who guaranteed to dump over one million bitcoins if block sizes were changed, allegedly drowned off the coast of Costa Rica on June 23rd. Confirmation of his death has been scant, with outlets originally reporting that a Polish nationwide had drowned.

However, did he really own one million coins? And if he did, what takes place to them now? Did we lose them forever? Or are they going to eventually hit the marketplace, driving the price downwards? Let’s search for ideas in the information we have about the person in question.

The polarizing Mircea Popescu

This man was the first and most severe Bitcoin maximalist. In 2011, he founded MPEx, an ancient “exchange where stocks, bonds, choices and other types of securities are traded.” It was controversial, to say the least. A pseudonymous Bitcointalk online forum user described it as, “It is my task to post here. This exchange is run by a dubious Romanian character, who is a content stealer, spammer, wannabe porn website owner, called Mircea Popescu.”

As his Bitcoin Magazine profile suggests, he really was that “collorful”:

Popescu would gain prestige for being amongst the first to combat frauds in public, emerging as a vocal critic of Ripple (the company that introduced XRP) as well as Bitcoin Savings & & Trust, which was later exposed to have been a pyramid plan.

The behaviors, then a novelty, would win him an early following and set the tone for what would end up being Popescu’s signature– an aggressive brand name of unapologetic Bitcoin evangelism that made his influence enduring despite recorded circumstances of sexism, bigotry and anti-semitism.

In his Trilema blog, he knocked fraudsters and teased the SEC. The most questionable aspects of his personality likewise made an appearance, know that prior to you browse it.

All of his other ideas aside, Mircea Popescu comprehended the value of Bitcoin early. He knew that something this significant for humanity is something worth safeguarding at all costs. His techniques live on in today’s laser-eyed cyber hornets, the Bitcoin maximalist.

BTCUSD price chart for 06/30/2021 - TradingView

BTC rate chart on Gemini|Source: BTC/USDT on TradingView.com Yeah, yeah, may he rest in peace and all, however … What Will Happen With Popescu's BTC? Simply a few days ago, Popescu was boasting online about being the only Bitcoin millionaire. A proposal that, simply to be clear, many people do not believe.

Mircea Popescu, the only bitcoin millionaire quote

And the main report online is that his family can't access his