Maybe not Bitcoin in particular, but other cryptocurrencies might do. Consider that for a very long time (and possibly still), ransomware attackers were demanding payment in Bitcoin, so these traceability considerations might not be as dissuasive as you might believe.

Bitcoin’s price volatility also seems no worse than the possibility of losses of cash due to theft.

But he could orchestrate a bunch of people to mint artistic NFTs that could be traded around a bit to enable him to make loads of money that he could cash out “legitimately”…