Mircea Popescu was a Cool Guy, But Let’s Hope His Keys Drowned with Him

Mircea Popescu owned as much as 5% of the total Bitcoin supply when he up and drowned.


One of the world’s biggest individual bitcoin holders, Mircea Popescu, has reportedly died in Costa Rica at the age of 41, leading to uncertainty over the $1 billion in cryptocurrency he leaves behind.

The billionaire drowned at Playa Hermosa de Garabito, Puntarenas, in Costa Rica, according to a Spanish-language publication, Teletica.com, which described the deceased as a “41-year-old foreigner.”

Popescu, a Romanian entrepreneur and blogger, launched bitcoin securities exchange MPEx in 2012, and was something of an evangelist for cryptocurrency.

His fortune would have been worth nearly $2 billion during bitcoin’s mid-April peak this year, but has since likely decreased dramatically. He reportedly had control of more than a million coins.

The news of Popescu’s death triggered speculation across crypto-related channels as to what will happen to his vast holdings. If the billionaire had not established a prior arrangement for others to access his wallets, those tokens will end up being lost. Given the huge number he held, this could well have an impact on the price of bitcoin.

Frankly, it’s very difficult to have a surprise death plan for your cryptocurrency. People have thought a lot about this issue, and I’m sure there would be some way to set up a dead man’s switch, but that would have its own security risks. If you have a brother, son or father you can trust, you can give them your keys, but then you’re relying on that person not making a security mistake – which basically means the family member has to be pretty tapped in to the crypto world, just to safely have custody.

I don’t know anything about Popescu’s family, but he never seemed like the kind of guy who would trust anyone with his money.

For the record, we do not know if he’s actually dead. This is kind of an obvious way to fake your death, and he is the kind of person who would fake his own death.

Three of his sex slaves have confirmed his death. But of course, sex slaves would do that.

I hope he faked his death, because he was a pretty cool guy. Anyway, faking his death would have the same impact on the price of Bitcoin.

The price has been rising steadily for the last three days. No one has any idea if this is related to Popescu’s alleged death or not, and probably isn’t. But obviously, in the longer term, removing 5% of the supply raises the price significantly. However, he wasn’t selling anyway, so it won’t have an immediate clear impact, unless people make speculative decisions based on the fact that 5% of the world’s BTC may have just drowned.

I’m not a mathematician, but I think in theory, that means a permanent 5% increase in the value of Bitcoin.

I’ll leave you with a Twitter thread in memorial of Mircea.