There is an ever-increasing figure of cryptocurrency millionaires all around the world. Bitcoin is responsible for most of these millionaires and a few billionaires. This is expected, being the first cryptocurrency and that which has witnessed tremendous growth over the years. Bitcoin was just worth a dollar ten years ago, and today, over $9000. Competitor coins such as ether, litecoin and so on have recorded a handful millionaires too.
The success stories of prominent crypto millionaires can help beginners do better and make informed decisions. Early adopters in the cryptocurrency market enjoyed landslide returns on investments. The exponential growth phase of the coins allowed for these.
Let’s look at notable cryptocurrency millionaires and lessons to be learnt from them;
· Mr W. Smith – He teaches us about patience and daring to make significant risks on new endeavours. He was a software engineer at Silicon Valley when he got to know about bitcoin. The price of bitcoin grew ten folds five days after he learnt about it. He was amazed and felt the idea of a digital currency is a future necessity. He invested $ 3000 and waited till 2013 when bitcoin had grown remarkably before selling his coins. He instantly became a millionaire and now travels the world luxuriously.
· Erik Finman – Here, we learn to trust our guts and be prudent from a teenage boy. Erik was only 12 years of age when he invested his entire gift money in bitcoin. The value increased significantly and he used the proceeds to start an online video tutoring company. When he got the chance to sell his start-up, he chose to sell for bitcoins (300) over a higher value fiat currency as at then. That was all that made him an enviable teenage millionaire.
· Kingsley Advani – We have a tricky one here. Kingsley sold all of his personal belongings to invest in bitcoin. The investment paid off and turned out to be a wise decision. However, we still dread such risks and consider them unnecessary. What if things go south? We partly understand why it may feel not so bad to him as he was a young man in his early twenties with ample time to replenish all that may get lost.
Other than lucky and decisive investors, we can learn a lot from executives and start-up founders too.
· Digital Assets Holdings – Blythe Masters gained immensely from cryptocurrencies through her ICT skills. She left her managing director job and started Digital Assets Holdings, a company that builds encryption processing tools that improve the efficiency and security of digital currencies like bitcoin. The company now has many high-profile customers.
· Crypto castle- The owner of crypto castle, Jeremy Gardener, is also an early investor of the bitcoin. He multiplies his returns by reinvesting all proceeds. However, he developed an interest in cryptocurrencies and started a networking hub for cryptocurrency lovers and explorers to collaborate. His company paved the way for many crypto start-ups and this has further increased his net worth beyond returns from bitcoin.
· BitInstant – Founded by Charlie Shrem, BitInstant enjoyed a dominating preference as a crypto exchange platform for many years. Charlie Shrem is also an early investor who developed a strong interest in cryptocurrencies. He started an exchange platform which performed excellently before stiffer competitors.
Most of these investors have since diversified their investments and currently trade altcoins such as Ethereum, Ripple and Litecoin. Please share your success stories in the comment section, we love to hear them.
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