Court rules man cannot claim $345 million in bitcoin after denying ownership for years
ATLANTA, GA – The U.S. Court of Appeals for the Eleventh Circuit upheld a lower court ruling denying Michael Prime’s request for the return of a destroyed hard drive he claimed contained cryptographic keys to access nearly 3,443 bitcoin, now valued at more than $345 million.
Prime, who was arrested in 2019 for counterfeiting and identity theft, initially told federal agents he possessed approximately 3,500 bitcoin. However, he later reported owning only $200 to $1,500 in cryptocurrency and repeatedly denied having significant bitcoin holdings during sentencing and probation interviews.
According to court records, the government destroyed several electronic devices, including the hard drive in question, after Prime failed to disclose their contents. Years later, he claimed that th...



