by Dylan Buckley
The inception of Bitcoin and the many projects that preceded this initial development gave rise to a whole new market for investors to take advantage of. Those who truly believed in Bitcoin and cryptocurrencies even before it started to see massive gains in value profited heavily off of the digital assets, turning many of these early investors and believers into millionaires in a short amount of time. If you have not yet heard about their story behind their path to wealth – and if you are looking for inspiration to help you get there yourself, here are three incredible investor success stories that you have to read.
1. Erik Finman: Youngest Bitcoin Millionaire At 17
Finman was one of the youngest investors to make millions off of Bitcoin. His story began when he received a gift of $1,000 from his grandmother at the age of 12 in 2011. His brother advised him to invest the gift into Bitcoin, which was approximately $12 per BTC at the time. By the end of 2013, he was able to sell his Bitcoin for $1,200 per BTC, for a total of $100,000! With his profits, he started his own educational tech company that he sold for 300 BTC in 2015. The most recent report about Finman stated that he owned approximately 403 Bitcoin, which is currently valued at more than one million dollars at the time of writing, and made Finman a millionaire before his 18th birthday.
2. Kristoffer Koch: An Everday Man’s Tale
When Bitcoin first came out in 2009, a Norwegian electrical engineer named Kristoffer Koch decided to invest $26.60 (150 Kroner in Norway) to purchase 5,000 Bitcoins. Because Bitcoin was just developed and there were no practical applications or user base yet, Koch forgot about his investment and went about his daily life. When he heard about the rising success of cryptocurrencies on the news and managed to recover his wallet, he discovered that his assets grew from $26.60 to $886,000 (5,000,000 Kroner)! With only 1,000 Bitcoins, he was able to purchase a nice apartment and held onto the other 4,000. Holding onto those additional coins proved to be a smart move as 4,000 Bitcoin would be valued at a staggering $15 million today.
3. Eddy Zillan: Age and Wealth Don’t Matter
At the young age of 15, Eddy Zillan began investing money into the cryptocurrency market. Unfortunately, Bitcoin was still in its infancy and there were no resources that would help him make money from his investments. Still, he began by investing $100 in the market and was excited to see that he had already made $10 on his first day. He decided to invest more and more money into the market as the price of Bitcoin began to rise. By the time he turned 18 in 2018, Zillan had already amassed a fortune of $1 million.
Looking to Get In the Action?
The cryptocurrency industry has provided plenty of opportunity for those who have believed in it. That being said, there are an equal number of horror stories out there for investors who have put their money in the market and lost a lot of their investment, if not everything.
Remember: The cryptocurrency space is new and there are as many opportunities to lose as there are to win. Do your own research before you get involved, avoid the common mistakes most cryptocurrency investors make. And, most important of all, since cryptocurrency is extremely volatile, only invest what you can afford to lose.
Dylan Buckley, based in California, became interested in cryptocurrency upon discovering it in 2014 and soon started getting involved and writing for crypto-startups in the space. When he is not creating awesome content, he is generally working on his own self-development or making music.