Know why people prefer bitcoins to any other cryptocurrencies
02.07.2022
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Cryptocurrency is a general name for all digital currencies that use cryptography and operate on…
Early Bitcoin Investors and their Fortunes
In any enterprise or entrepreneurship journey, people need to implement an idea before someone else does it. We can see how a company such as Microsoft that pioneered computer technology and kept the momentum has remained a central player in that market to date. Actually, Microsoft is among the companies that today accept cryptocurrency as a means of payment. There are many such ideas that although started off as small and outlandish have since flourished to define how societies work.
WARNING: Investing in crypto, or other markets, can be of a high risk for your savings. Do not invest money you cannot afford to lose, because there is a risk for losing all of your money when investing in crypto, stocks, CFDs or other investments options. For example 77% of retail CFD accounts lose money.
The case is not any different in cryptocurrencies. When bitcoin entered the market in 2009, so many were apprehensive. It would be expected that a new investment option attracts mixed reactions, perceptions of risks and a wait and see approach from among potential investors. To say the least, those who boldly embraced bitcoin and ventured straight into it became the veterans. They have a full story to tell about how they created fortunes from crypto, the pitfalls and opportunities therein. In general, the early investors in cryptocurrency have grown with them and created great returns.
Early crypto investors, how they fared in this new sphere
They say, “early birds catch the worms”. Today, I am going to share some incredible success stories about individuals who opted for cryptocurrency investment and how such investments affected their lives positively. Largely, this group of people invested with cryptocurrency immediately it was launched in 2009. Subsequently, they as early movers leveraged on possibilities and became millionaires if not billionaires.
Remember, Bitcoin was the first cryptocurrency to be developed by its creator known pseudonymously by Satoshi Nakamoto. Although the overall idea behind development of Bitcoin was simple, the technology has revolutionised the global payment system, and consequently provided an alternative to the traditional currency that had dominated the world.
For a decade now, the cryptocurrency investment has continued to burn with hot fumes making many investors benefit immensely. Let’s look at the stories of some of the early bitcoin investors and their fortunes today.
Barry Silbert
If you thought Bitcoin investment is not a lucrative investment, you are wrong. Barry is among the few people who decided to make early investments with Bitcoin in 2012. Currently, he is the founder and the chief executive officer of the Digital Currency Group.
The primary aim of Silbert’s company is to facilitate the development of the global financial systems by establishing and supporting Bitcoins and blockchain companies. As of 2022, Barry has made more than 200 Bitcoin and Blockchain investments through his Digital currency company. His net worth is estimated at 3.2 Billion USD.
Still, through Digital Currency Group, Barry has managed to acquire another company, Grayscale Investments, which manages the Bitcoin Investment Trust (GBTC). He has been able to run an investment tool that holds more than $25 in Bitcoin as of 2022 and provides the investors with an opportunity to access its price movements.
Were it not for Barry’s early decision to invest with cryptocurrency, I do not think he could have amassed that amount of wealth he presently possesses. Take a risk today and become an investor. You will not regret it.
Erick Fineman
Erick’s story is among the most incredible ones in the history of cryptocurrency. Notably, Erick borrowed $1000 from the grandmother when a single bitcoin was valued at $12. However, two years later, bitcoin’s value rose to $1200.
You can imagine that kind of a massive fortune in a span of two years. In fact, at the beginning of 2015, Erick had established his own education company, which he later sold for an offer of 300 bitcoins. As a result, Erick became a millionaire at 18 years and even resorted to learning through world experiences as opposed to college education. He never went to college..
Broadly, Erick is just one of the millions of young people who have entrepreneurial goals, but fear taking risks. Cryptocurrency is all about taking risks, like any other business. Do not hesitate to grab an investment opportunity if it arises. You may become the next Erick Fineman!
Winklevoss Brothers
Cameron and Tyler Winklevoss are twin brothers who are among the earliest crypto investors. In fact, these brothers go down in crypto history as being among the few investors who showed patience and risk-taking as part of investment journey.
They were the first ever bitcoin billionaires because of amassing more than 70,000 coins. In 2015, they established a Gemini Exchange, which allows investors to buy, sell and store digital assets.
Other than Bitcoin, these brothers have also invested in Ethereum. While other people who were also able to invest were sceptical, Winklevoss took the risk and later became millionaires.
In reality, it is time you emulate the Winklevoss and become the next millionaire!
Peter Sanddigton
Peter is one of the few American ‘birds’ who rose up early to catch the Bitcoins ‘worms’. In fact, he first got the idea about Bitcoin back in 2011, and purchased some for less than $3 for every coin. Surprisingly, Peter was able to reap big profits a few years later when the profit rose to approximately 250,000%, with each bitcoin valued at $7,500.
In his own confession, Peter reiterated that had never seen nor experienced anything like that. That kind of profit was extremely mysterious to him. His success with Bitcoin investment was based on the confidence he had on cryptography, which is a concept based purely on mathematics.
Kristoffer Koch
Kristoffer is among the earliest Norwegian young men who ventured into the cryptocurrency trade and became millionaires. Back in 2009, Koch got an introduction to the concept of digital currency while he was pursuing his masters on Encryption technology. Satoshi Nakamoto’s white paper on Bitcoin played a fundamental role in giving him insights that assisted him foresee the future of the new cryptographic technology. He acquired about 5000 bitcoins each valued at $26.60. With the continued demand, the cryptocurrency value rose nearly 25000%.
Kristoffer owns several apartments and still has more than 4000 coins in his wallets presently. That arguably still makes him among the richest young people who woke up early in the morning to invest in digital currency.
Kane Ellis-Aussie Entrepreneur
We will finish our list with Kane Ellis who is arguably among the earliest Aussies to invest in cryptocurrency business. As a native of South Australia, Kane Ellis has had a huge interest in technology. In fact, Ellis began Bitcoin investment when he was just 18 years of age.
He is the founder of the Nerd Herd, a technology consulting company that has helped develop huge knowledge on cryptocurrency trading and investment.
Ideally, his great success is attributed to starting investments as 2010 when a single coin was valued at $1.60. His only mistake was to sell about 3 bitcoins to McDonald’s for a meal. However, it was just a smaller portion of his investment and he does not regret it.
Is Cryptocurrency Worth Investing in?
Yes. You can clearly see from these success stories that crypto investment is a lucrative one, and you can acquire substantial fortune through it. Knowing very well that nobody reaps without risks, it is high time you put your money into crypto. Ultimately, if it does not yield dividends for you, important lessons will be learnt. The Bitcoin’s popularity is something to watch in the next few years and therefore, endeavour to invest now so that you can reap massively in future.
