There are many people who have been millionaires with bitcoin investment over the years. It has been believed that shifting your attention to trading and investments with bitcoin can generate massive wealth and they have all the reasons to believe that this is in fact true.
Bitcoin is the first ever decentralized payment network that has no interception from any middlemen or central authority. The value of bitcoin depends primarily on user perception and nothing else. This is basically the reason why bitcoin has been dubbed as the cash for the internet; per se as it has been a prominent digital currency and bookkeeping system that works on a peer-to-peer network. In fact, bitcoin is said to be a game-changer and has changed the way people look at money.
Bitcoin prices have soared over the past seven years. It was even described as parabolic. It is currently at $5,500 each and there are no signs of slowing down anytime soon. It is said that the value of bitcoin would still go up in the coming years. This is exactly what happened to the people who decided to invest in bitcoin years ago. Thousands of bitcoins would be worth millions today.
There are examples of individuals who are now millionaires out of their bitcoin investments. One such example is Erik Finman who is only 18 years old; as reported by Cointelegraph. He invested around $1,000 in bitcoin back in 2011 when it was then valued at only $12 each. He now has around 403 bitcoins today which is valued at $1.07 million.
Real-life Bitcoin Millionaires
Guardian also cited another bitcoin millionaire, Kristoffer Koch. He is a Norwegian who bought bitcoin seven years ago. Back then bitcoins are worth $26.60 each. Koch now has 5000 bitcoins which is worth $12.5 million today.
Even the rich and famous are now bitcoin investors. Even Microsoft’s Bill Gates is now into bitcoin investments. Bitcoin was introduced to Silicon Valley’s elite by WencesCasares, a board member of PayPal and founder of a video game company; among others. His advice to those who would want to invest in bitcoin and become millionaires is to invest 1% of what they have and then forget about it for the next decade or at least five years. He says you can either lose 1% or make millions. You do the math.
Way To Millions – Trading or Mining Bitcoins
In order to be a millionaire with bitcoin, you can either trade or mine. Mining bitcoins might not be worth it especially if you have low computing power plus paying for the hefty electricity bills. The most popular way to earn bitcoins and become a millionaire is to trade them in exchanges. In essence, becoming a bitcoin millionaire today is possible but you would need serious capital. The market value of bitcoin fluctuates a lot. However, as investors would say, there is opportunity in volatility.
Ultimately, your point of entry is all up to you. The easiest way to invest is to buy and sell bitcoins. With this setup, you are actually hoping that the value of bitcoin would go higher than your native currency.