I agree with earlier sentiment that this money was probably gone a while ago anyway.
If that's true then why does he still bother to show up and threaten people? It would take quite a while to sell off that much BTC, and it's not like he can spend it on anything until it's fiat.
What makes you believe that he wasn't selling the majority of it as it came in?
That was my thinking. If it was truly the entire time a ruse, then that money is likely gone. He could have owed people a shitload, or just wasted it on fake tits for his wife that will eventually leave him for another pirate with more booty.