BTC Trading Volume Skyrockets In Thailand After Home Seizure Scandal

BTC trading volume skyrocketed in Thailand by 250% after the home of the Bitcoin-rich couple was seized by the Thai navy. The Thai authorities revoked the visa of Supranee Thepdet and Chad Alwartowski for ‘’violating Thai sovereignty’’ according to the altcoin news coming from Thailand.

The couple was invested in the bitcoin industry with and Thepdet was even named the ‘’Bitcoin girl Thailand’’ and their home seizure was reportedly a huge influence for the BTC trading volume rise. Their home was said to be 12 nautical miles from the Phuket shore but Elwartowski says that it was actually 13 nautical miles which is past Thailand’s coastline entering international waters. He also stated:

‘’I was free for a moment – probably the freest person in the world.’’

Meanwhile, massive bitcoin frenzy began in the country which led to the BTC trading volume increase by 4 times on the peer-to-peer site LocalBitcoins. Approximately 417 BTC was exchanged in the past week from the previous 130 BTC in the previous week. This is maybe the highest recorded volume since 2016 as the latest cryptocurrency news report.

It is also speculated that the BTC trading volume spike was due to the seizure of the couple’s home which boosted the awareness of Bitcoin in the country. The couple fled their home on the coast of Thailand and is now fearing of execution. Thailand has the maximum penalty for violating the sovereignty of the country which is the death penalty.
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The navy is now trying to find a way to locate the house back to the shoreline in order to use it as evidence against the couple. Their home was built by a libertarian group named Ocean builders who build homes beyond the nation’s borders.

The Thai navy explained that the couple aimed to ‘’establish a permanent settlement at sea beyond the sovereignty of nations by using a legal loophole.’’ They also pointed out that ‘’ their actions reveal the intention of disobeying the laws of Thailand undermining the national security of the country as well as economic and social interests of maritime nations.’’

The Ocean Builders, on the other hand, denied that the couple aimed to create an independent state but they were simply interested in living a free life and become the pioneer seasteaders off the Phuket coasts despite the disagreement from the Thai navy.