An illegal ‘seasteading’ home belonging to a Bitcoin-rich couple was towed by the Thai navy. Meanwhile, the publicity of the event has caused Bitcoin volumes to soar in Thailand.
A Bitcoin-rich couples home was seized by the Thai navy. Authorities in Thailand have reportedly revoked the visa of Chad Elwartowski and Supranee Thepdet for “violating Thai sovereignty.”
The couple was apparently both heavily invested in the bitcoin industry, with Thepdet even going by the moniker “Bitcoin girl Thailand.”
The home was said to be 12 nautical miles from the shore of Phuket but Elwartowski claims that it was in fact 13 nautical miles out and therefore past Thailand’s coastline and in international waters.
Remarking on the seizure of his home, Elwartowski told The Independent:
I was free for a moment – probably the freest person in the world.
Thailand Local Bitcoin spikes amid the chaos
Meanwhile, the rest of Thailand has gone into a bitcoin frenzy as volumes have risen 4x on the peer-to-peer site Local Bitcoins.