“Mr Bitcoin” is a man that invested $3,000 in Bitcoin in October 2010. He paid just over $0.15 per Bitcoin, giving him slightly under 20,000. He did not expect much of a return, it was a very long shot.
By 2013 he couldn’t believe how quickly his investment was appreciating; “It started rising by 10% or more every day”. When the price hit $350, he sold 2,000 of his early stock; when the price hit $800, he sold 2,000 more. The following week he quit his job and left on a round-the-world trip.
You can read more about this story on Forbes.com. Mr Bitcoin (not his real name) has apparently accrued $25 million in profits so far and has been travelling the world ever since. According to Forbes,he still has a balance of 1,000.00 BTC, worth over $4 million as of 19th August 2017 (which has almost doubled in value since Forbes released their article on the 7th July).
Is Mr Bitcoin selling? “When the price reaches $150,000… I really do think it will get there… But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”
Should Everyone Buy Bitcoin?
If the Bitcoin man is right, and a $4,000 investment today will eventually grow to $150,000, then you do the math. Some commentators such as Louis Basenese on The Daily Reckoning go as far as urging their readers to seize this historic opportunity.
Fred Wilson, the venture capitalist known for backing Twitter and Tumblr has also made a big bet on blockchain cryptocurrencies including Bitcoin—and according to Fortune.com, he thinks regular investors should buy some too.
One the most educated articles I have read trying to make sense of Bitcoin can be found on Moneyweek.
If you do decide to buy Bitcoin, make sure you set it up using a coinbase referral link like mine. Once you buy or sell $100 USD (£76) of digital currency or more, you will get $10 USD (£7) of free Bitcoin (as will your referrer, which on the link above would be me). I have also found Bitcoin to be a great way of earning airline miles.
And if you do make a fortune; these are my 3 favourite hotels to spend it at:
The best hotel on the French Riviera is the Grand-Hotel du Cap-Ferrat, a Four Seasons Hotel. Set in Belle Epoque splendour, in a building that dates back to the 1800’s, this ultra luxury hotel offers everything you would expect of… Read More.
Ahhh the Hôtel Hermitage Monte-Carlo. Pronounced Hermitaaaaage by the French, this Belle Époque dream was built in the early 1900s and is one of the two best luxury hotels in Monte Carlo. Its competition the Hotel De Paris is undergoing… Read More.