Lars Seier in Bitcoin blunder: Dropped his mobile in the pool and lost a fortune

You must remember to save your codes well and securely if you buy Bitcoins. You hear that again and again, and Saxo Bank founder and billionaire Lars Seier Christensen has also had to prove it.

While the world’s cryptocurrency is currently on shaky ground due to the American crypto king Sam Bankman-Fried and the collapse of FTX, the Danish rich man can look back on the Bitcoins he himself accidentally missed

Back around 2013-2014, Lars Seier Christensen dropped his phone in a pool at a party and lost a potential fortune.

At the time, the cryptocurrency was still in its infancy, and Lars Seier Christensen had shortly before invested a little in Bitcoins to see what the then new cryptocurrency was all about.

Lars Seier lost a lot of Bitcoins when his phone fell into the pool.
Photo: Silla Bakalus

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“I invested DKK 100,000 just to see if you could use bitcoin in some places,” he tells BT in a text message.

When you buy Bitcoins, you get some codes that you have to save well. But people didn’t take it so seriously ten years ago, and Lars Seier Christensen had therefore only saved the codes on his smartphone, which unfortunately couldn’t be saved after the trip in the pool.

“It’s been so long and they (his Bitcoins, ed.) weren’t worth much. So I was actually more concerned about all the other information that was on the phone. So I gave up trying to get the phone working again,’ he says.

Lars Seier Christensen cannot remember how many Bitcoins he had bought, but they would have been worth a fortune today:

Lars Seier Christensen is today the main man behind a new crypto-currency.

Lars Seier Christensen is today the main man behind a new crypto-currency.
Photo: Søren Bidstrup

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“The course is probably 50-100 times higher today,” he says.

A search on the web shows that the price of Bitcoins in 2013 and 2014 was between 93 and up to 7,900 kroner for a single bitcoin.

The price of a bitcoin on Saturday is DKK 119,889, while the price was as high as DKK 466,454 for a single bitcoin, when the cryptocurrency was at its highest so far in November 2021.

Depending on the rate at which Lars Seier Christensen himself bought bitcoin, he has missed out on a larger or smaller potential fortune.

He himself believes that the number of Bitcoins was probably less than 300. In that case, he may have missed out on a two- or even three-digit million amount if he had not lost his Bitcoins, but sold them when they were most valuable.

However, Lars Seier Christensen, who today has a fortune of DKK 2.3 billion, does not mourn the regrettable loss.

“Today the value is several millions, not then. But then, it’s just a funny story, it’s not something I’m upset about today. It just shows that you have to take care of your codes”, says the rich man, who, however, has not been completely discouraged by cryptocurrency after the big loss.

He launched his own cryptocurrency in 2021, namely the blockchain Concordium.

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