Bitcoin king: From luxury townhome to jail

Published 12:18 pm Friday, June 6, 2025

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By Dr. Glenn Mollette

Would a million dollars make you happy? Would you be satisfied knowing you could eat good and do about whatever you wanted to do? A million dollars is not what it used to be, but it is still a huge sum of money. You should pull in about $40,000 a year in interest.

But wait. What if you had $100 million? You would be one of the richest people in the world! Can your mind even comprehend having that much money? Would you be satisfied?

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What about $100 million in bitcoin currency?

Apparently, it was not enough for John Woeltz of Paducah, Kentucky, known as the Crypto King of Kentucky. He wanted $30 million more in bitcoin currency, even if it meant robbing it from an acquaintance.

Woeltz and a business partner, William Duplessie, are accused of holding a man from Italy hostage for 17 days. They are accused of beating him, cutting him with a chainsaw, dangling him over a staircase and keeping him bound, among other torturous acts.

The victim from Italy reportedly owns $30 million in bitcoin, while Woeltz is reported to own over $100 million in bitcoin currency.

The man from Italy was reportedly lured by Woeltz and Duplessie from Italy by some kind of bitcoin trading deal, which ended up as an attempted robbery of the victim. Woeltz and his accomplice wanted the man’s bitcoin password.

Finally, the man reportedly gave Woeltz the information. Woeltz is said to have left the victim long enough to get his laptop, which allowed the victim a moment to bolt out the door to seek help from a NYC traffic cop who happened to be walking down the street.

Woeltz and Duplessie may end up spending years in prison and spending millions on attorney fees. They will likely be sued by the man from Italy, who could end up with a sizable amount of the two accused men’s wealth.

The bottom line is to be satisfied with what you have. Do not covet what someone else has. Trying to steal or obtain someone else’s money or property illegally or immorally will only bring sad consequences.

Evil never stops at level one or two but is always pushing to another level of debasement and debauchery. A person who starts out stealing pennies will eventually end up stealing dollars and even doing whatever it takes to fulfill his thirst for more.

Serial killers started with what seemed to be a low level of crime or theft but escalated to hurting people, which soon evolved into a thirst for killing people.

Sow a thought, reap an act. Sow an act, reap a lifestyle. Sow a lifestyle, reap a destiny.

News sources reported that Woeltz owns a jet and a helicopter. He was renting a luxury six-floor NYC townhome for $30,000 a month, where the kidnapping took place. Today, he and Duplessie are in a New York City jail.

(Dr. Glenn Mollette is the author of Uncommon Sense and 13 other books.)