Wednesday, October 30, 2013

$27 in Bitcoins turn man into millionaire 4 years later

We've all read about how much money we could have if instead of buying a laptop a decade ago we bought Apple stock, or Google's, or a few other tech companies. But even then, that would require you to spend several thousand dollars, and even if today you'd have several times that amount, you'd still be quite far from being a millionaire. But there are cases where even a few bucks could in fact do that for you... as Christopher Koch found out.

Four years ago, Christopher Koch has writing is thesis about encryption when he decided to buy 5000 bitcoins for $27 (under the disapproving eyes of his girlfriend, who though he was just throwing it away). Christopher never gave it much though about it, until recently he remembered his old bitcoin loot and decided to track it down and see how much they were worth.

You can imagine his surprise when he found out that his $27 aquisition for 5000 Bitcoins was worth over $880,000 - and that's according to last April valuation. Today, it's actually worth over $1 million!

I know that looking back on this kind of stuff it's easy to "imagine how much money you could have made". But even so... can you wonder being somewhat crazy and decided to put $2700 in Bitcoins just four years ago? You'd be looking at an earth shattering $100 million return today.

... That's sure to make a lot of people look at digital currency in a completely different way!

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