How This Guy Lost A $50,000 Twitter Username

While what happened to this guy really sucks (pay close attention to what PayPal and GoDaddy did), is a Twitter handle really worth $50k just because you said it was?

I had a rare Twitter username, @N. Yep, just one letter. I’ve been offered as much as $50,000 for it. People have tried to steal it. Password reset instructions are a regular sight in my email inbox. As of today, I no longer control @N. I was extorted into giving it up.