The recent meteoric rise of Bitcoin and other cryptocurrencies has generated the looks of some unlikely millionaires. A current interview by Forbes magazine shows exactly how powerful Bitcoin has been within the length of yesteryear decade for individuals who invested early.
The interviewee, a former software engineer in Silicon Valley, asked to stay nameless. However, he did explain he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should really be sizable enough to offer some real upside, should Bitcoin ever upsurge in value, and so he bought ₦453K ($3,000) worth, or, during the time, 20,000 BTC.
Once the Bitcoin price really started initially to jump, he made his first sale of 1,000 Bitcoin, netting him ₦949 Mln ($2.6 mln). Since that time, he's quit his day job and now travels the entire world, flying top class and staying only in five-star resorts.
After explaining his multiple sell-offs, and the ₦9.1 Bln ($25 mln) in profits he's realized so far, he explained he sees Bitcoin values at ₦54.7 Mln ($150,000) in the long term. "I really do think it will get there,” he says confidently, "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.”