Bitcoin millionaire arrested after being unable to pay with BTC

Posted: 13 June 2019 11:42 am
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You can't count on Bitcoin being accepted wherever you go, but you can pay bail with it.

A Bitcoin millionaire was arrested at a Florida truck stop after being unable to pay for anything with Bitcoin, local news reports.

Also, after allegedly entering the women's bathroom and hollering at employees.

When police arrived they found the 51 year old man drinking Four Loko (an American delicacy known for its bold, fruity notes), smelling strongly of alcohol and having difficulty standing.

Bitcoin not accepted here

"I asked if he could use a credit card to get a hotel room and he stated that he does not have any money in his account except for 8.8 million in Bitcoins," the police affidavit states.

The man reportedly said he had no other way to pay for a hotel and had no friends to call. In addition to 8.8 million in Bitcoin, he also had 2 brand new flat panel monitors, 5 bags of clothes and other items.

He said he was from Malta, but on closer inspection had a listed address in Florida. It's not currently known whether the truck stop accepted Bitcoin.

Paying bail with Bitcoin

Fortunately for the guy, it's possible to pay bail with Bitcoin, and people have on several occasions before.

The best known example is probably the time when a judge ordered a hacker to pay bail with $750,000 of cryptocurrency. The culprit in that case hacked into the EA software company and stole a bunch of player accounts and digital assets.

But another example that bears more resemblance to this case would be when another Florida man reportedly paid $500 bail with Bitcoin around December 2018 after being caught in possession of a small amount of marijuana.

Now that's mainstream adoption.

Where to go instead of Florida

It's possible to travel on Bitcoin alone and people have done it before, but it's never been easy. The exception might be Queensland, Australia.

So go there instead of Florida.

Like Florida, Queensland is also known as a tropically, beachy type of area with an active nightlife scene and at least several truck stops. But unlike Florida it has deliberate coverage of cryptocurrency payments.

Why buy Four Loko with BTC when you could get Bundy with Bitcoin instead?

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Disclosure: The author holds BNB, ZIL at the time of writing.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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