Mr. Smith, who desired to leave his real name incognito, has been traveling around the world in the luxurious style for the last 4 years. He stays exclusively in 5-star hotels, always flies the first class and never cooks himself. He’s already visited Monaco, Las Vegas, Moscow, Zurich, he’s been several times to New York City and now he travels to Hong Kong. You may think that he’s a rich inheritor, but the truth is that all the money he now has he’s gained with the help of Bitcoin.
Smith finished College in 2008 and received a very good position as a software engineer in Silicon Valley. He was a good worker and had many friends among other employees. In July 2010 he heard about Bitcoin for the first time from one of his colleagues, shortly after its first great price increase, when the digital currency price rose from $0.008 to $0.08 in only 5 days. Smith got interested: “That price jump really got my attention, but I still waited a few more months before investing. I wanted to learn more about the underlying technology first.”
In October 2010 Smith was ready to make a decision. “I had no idea how much to invest, but I was getting paid pretty well at the time, so I decided on $3,000”, he says. He purchased about 20,000 Bitcoins paying about $0.15 per coin. At that time the digital currency was not so popular, and even in the Silicon Valley people were really skeptical about it. Smith was checking the Bitcoin price every couple of months. “I knew from the very start that I was playing the long game. I wanted to see how high it could go.”
In the following 3 years Smith worked really hard and almost forgot about his early investments, until bitcoin’s price rise caused lots of chatter in 2013. “I couldn’t believe how quickly it was appreciating,” says Smith. “It started rising by 10% or more every day. I was nervous, and excited, and terrified and confused all at the same time.” When the price of 1BTC reached $350, which was more than 2000 times the price he purchased it for, Smith sold 2000 Bitcoins. When it hit $800 a few days later, he sold 2000 more. That’s how he made $2.3 million. “It was absolutely insane,” he says. “I quit my job and left on a round-the-world trip the following week.”
He sold more Bitcoins in the following years as the price was rising. Eventually he has made $25 million with the help of his initial $3,000 investment.
You still possesses about 1000 Bitcoins and plans to sell them when the price reaches $150,000.
So this is how you one can become a millionaire nowadays. You don’t have to be and inherit her of a reach-around and you don’t have to look for the Pirate treasure on a deserted island. All you have to do is to invest your money into the right digital currency at the right time. Read more stories about richest Bitcoin millionaires on our blog.