“Mr Bitcoin” is a man that invested $3,000 USD in Bitcoin in October 2010. He paid just over $0.15 USD 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 USD, he sold 2,000 of his early stock; when the price hit $800 USD, he sold 2,000 more. The following week he quit his job and left on a round-the-world trip.
Wow! It may not be too late to jump on this bandwagon. Cryptocurrencies have been going up recently. In fact, Litecoin, which was on a low of close too £18 GBP in November is now on over £89 GBP. That’s almost a five-fold increase! This pattern could repeat once again (or it could go right back to £18 GBP or even lower).
I have discussed whether everyone should buy Litecoin and Bitcoin and the best way to buy these cryptocurrencies if you feel like spinning the wheel.
It is certainly a gamble but no more so than the lottery and it may just give the lucky few who take this risk, a luxury lifestyle that they never imagined possible, just like Mr Bitcoin.
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