From Rags to Riches: How Bitcoin Made Millionaires Overnight
Did you know some individuals became overnight millionaires through Bitcoin holding and investment? Indeed, Bitcoin is one of the cryptocurrencies that exhibited exponential growth shortly after its launch. It is, however, notable that Bitcoin’s initial value could have been more appealing.
It took some years for the price to skyrocket exponentially to the extent of turning poor individuals into overnight millionaires. Today, Bitcoin outweighs all other cryptocurrencies in terms of its market value. The high growth rate Bitcoin has exhibited over the years may continue. Hence, more Bitcoin millionaires could surface.
Are you interested in tracking the Bitcoin market performance? You can get such information in applications like bitcoin profit. Such platforms have adequate information that easily convinces individuals of Bitcoin’s ability to turn individuals into overnight millionaires. Records dating back years since Bitcoin launched project how the coin has been outshining competitors with its exponential price growth. Here are individuals who became overnight millionaires’ courtesy of Bitcoin:
Erick is among the first Bitcoin investors who quickly turned into millionaires. Erick’s story began in 2011 when Bitcoin’s value was $12. It was in 2011 that Erick borrowed $1,000 from his grandmother and bought an equivalent amount of Bitcoin. In just one year, Bitcoin prices skyrocketed to $1200, which was a promising development for Erick. By 2015, Erick had already established an education company from other investments. He later got an offer to sell the education company at a value of 300 Bitcoins which he accepted. On converting the 300 BTC, Erick has become an overnight millionaire from the school company sale.
The twin brothers invested in Bitcoin at an early age. The two brothers bought Bitcoin when its value was still low and affordable. Their passion for the new digital currency and the respective technology prompted them to purchase more Bitcoins with time while investing in the same. Bitcoin’s price explosion between 2015 and 2017 emerged as the best news for the brothers. The long-term investment had materialized. Based on the Bitcoins held at the moment of the price explosion, the Winklevoss brothers instantly became millionaires. The brothers’ success is primarily associated with their resilience and patience in investing in Bitcoin.
Peter’s story dates back to early 2011 when Bitcoin’s price was below $3. Peter became interested in Bitcoin and began purchasing some coins at this juncture. Peter was keen on research, through which he identified potential opportunities to grow the investments in a short time. The years that followed saw Bitcoin’s price increase exponentially and unimaginably. Peter became a millionaire when the Bitcoin price hit $7500 per coin. In essence, his investment had grown by 250,000% within five years. With his ample understanding of computer science, Peter efficiently conducted his research while unearthing pertinent information that guided his investments.
Jered was quick to invest in Bitcoin a few months after its launch. He purchased Bitcoin when its price was 0.2 each. Bitcoin had already hit the $258 mark in just a few months, indicating a promising future for his investment. Jered held his coins longer until the prices were high enough to make him a millionaire. He, however, noted that $200,000 worth of Bitcoin was lost when he formatted his flash drive.
The Bottom Line
All the listed individuals became overnight millionaires when the Bitcoin price skyrocketed exponentially. Note that Bitcoin’s price was initially low but grew fast as the coin gained market popularity. The individuals listed accumulated Bitcoin and sold it in bulk to become young millionaires.