Top 5 Bitcoin Success Stories that will Blow Your Mind
There are a number of success stories about people who became Bitcoin millionaires. In this article, we look at a few of these Bitcoin successstories to get a better idea of the various ways in which it is possible to succeed in the cryptocurrency market and become a Bitcoin millionaire.
Would you mind paying 80 million dollars for two pizzas?
Sounds crazy, right!
But in the Bitcoin era, it's possible. From rags to riches to the most expensive pizza, Bitcoin is breaking and making new records. Here are the top 5 Bitcoin success stories that will blow your mind.
Wait, there’s more…
I will also be bursting your curiosity bubble on “80 million dollar pizza”.
Let’s get this show on the road
1. Seen Successes then failures but kept going and finally took a spot in the Bitcoin Millionaire Club
Jered Kenna was one of the investors who invested in bitcoins in the initial days when it came into existence. He purchased his first batch for $0.20/ piece, traded them for approximately $258/ piece.
During the initial days he had four systems in the network, but unfortunately, the hackers hacked into his system and stole the bitcoins. He lost approximately $200,000 in 2010 when he reformatted his drive. He was not ready to accept failure and kept on moving with the time, and at present, he is a successful businessman and encourages everyone to use bitcoin for the transaction. He earned huge profits in the business and ultimately made it to the millionaire's club.
He doesn’t disclose his net worth of Bitcoins he holds but rumors say it’s about USD 30 million worth. Currently, he runs a craft brewery in Colombia.
2. Meet Olaf-Carlson Wee - Coinbase's first employee
For those unfamiliar with Coinbase, it’s a digital currency exchange headquartered in San Francisco, California.
Olaf-Carlson didn't ever imagine in his wildest dreams that bitcoin will change his life forever. It was the year 2013 when the 26-year-old teenager was selected for a bitcoin start-up named as Coinbase. The company uses to pay his salary in bitcoins. There were very few who knew about cryptocurrency then, but he had a vision, and he understood the importance of bitcoins. Soon his visions turned into reality. By the time, bitcoin soared high, he had enough coins to make him a millionaire. Carlson founded Polychain Capital, a blockchain asset hedge fund in 2017.
Olaf-Carlson Wee saw the most spectacular rise in the cryptocurrency space. His enterprise’s assets swell from $4 million to $300 million in recent months.
3. The World Tour
A dream doesn't become reality through magic; it takes sweat, determination, and hard work.
But in the case of Bitcoins, such magic can happen!
Going on a world tour is a dream for everyone; but Mr. Smith (not his real name) has turned that aspiration into reality, all due to Bitcoin investments starting in 2010. Knowing he was in it for the long haul, Smith put his Bitcoin investments on the backburner until 2013. It was the pick time when the price of the bitcoin was rising rapidly. As the time passed the price of the bitcoin multiplied by 2,000 times.
Currently, the price of those bitcoins summed up to $25 million on investment of $3,000 only. He is leading a lavish lifestyle and traveling around the world today. He has everything which he dreamt of. He is still an owner of 1000 bitcoins, but he will sell it once the price reaches $150,000. Bitcoins changed his fortune forever. He has cashed in much of his holdings and now is content to spend his time traveling and enjoying himself.
Amazing, isn’t it?
4. A high school dropout who invested in bitcoin at $12 is now the Youngest Bitcoin Millionaire
2011 was the year when Erik Finman invested in the bitcoins. He was just 11 years old at that time. His grandmother gave him $1000 which he invested in the bitcoins. At that time the price was just $12. By the end of 2013 when he sold his bitcoins, the value reached $1200. By that time he had turned $1000 to $100,000 and started his own online education company in the year 2014. He decided to sell his company in the year 2015, and he was offered either $100,000 or 300 bitcoins. He opted for 300 bitcoins and became a millionaire at the age of 18 years.
Finman currently owns 401 bitcoins, which he confirmed with CNBC Make It, or over $4.4 million at the rate of $11,182 a coin.
For young people looking to invest here is a 'crucial' advice from this 19-year-old bitcoin millionaire…
Now, let’s get the last but not the least piece of inspiration
How many times does it happens to you that you purchase something and forget?
You must be thinking “what’s the catch in this question?”
Well, it may happen that you purchase something and forget to use but it rarely happens that it turns out to be something that’s unbelievable. Kristoffer Koch experienced the same, here’s how…
5. Purchased and forgot about the Bitcoins
Now this one is interesting…
The world of bitcoins is creating millionaires every day around the globe. It was the year 2009 when a man named Kristoffer Koch invested 150 kroner which is just $26.60 and purchased 5000 bitcoins. After investing a small amount in the bitcoins, he forgot about it. After some time in the year 2013, the value of the bitcoin was at the peak which becomes a headline globally. It was only in April that he realized just how much the coins had come to be worth, which he purchased some years back.
But there was a challenge…
Those Bitcoins were stored in a password protected, encrypted bank account, known as a wallet AND Kristoffer couldn’t remember his password.
“I was scrambling to find my wallet file because I kind of had misunderstood the security implications, I had encrypted it with PGP, so it was a struggle to remember the passkey.”
After doing a lot of efforts, he came up with the right combination.
When he logged in, he got a very pleasant surprise and was overjoyed to discover he had 5000 Bitcoins, which were then valued at $886,000, a nearly unimaginable return of more than 38,814 times his initial investment!
The converted Bitcoin eventually poured into his bank account as portions of 50,000 each day. “Every morning I looked at my internet bank account and saw that the account grew,” laughed Kristoffer.
That’s all we have on our list. Oh yes! Now the most interesting quick fact.
The First Recorded offline Bitcoin Transaction
On May 22, 2010, now known as Bitcoin Pizza Day, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered Papa John's pizzas. Today this is worth over $80 million, for the two pizzas. This is the most expensive pizza in the world.
Although these stories are impressive and inspirational, these may undercut some ground reality behind investing in cryptocurrencies with false hope. Do you agree? Share your thoughts in the comments below!