Bitcoin Billionaire: myth or reality? How to become rich with Cryptocurrency investment?
By: Clos Belmont
Tags: Cryptocurrency Investment, Cryptocurrency, Crypto, Bitcoin, Cryptocurrency Mining

“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.” — Leon Luow

“If you guys want proof Bitcoin is real, send them to me, I’ll cash them out and feed homeless people.” — Jason King

People are interested is it possible to become really rich with bitcoin? It is a reasonable question since Bitcoin or the cryptocurrency industry is not mostly known to people around the world. So let’s answer the question!

It is safe to say — yes! BUT if you know how to play by the rules (you may read about them in Clos Belmont article https://medium.com/clos-belmont/top-10-crypto-world-ground-rules-613af37bab1f on this subject). Bitcoin is not an easy thing, you really have to invest time and efforts, and tons of time will pass until you get it and understand how it works. But it is definitely worth of your time and trying!

Brief dive to the history

Bitcoin and other cryptocurrencies became the hottest investment. Bitcoin is a digital payment system launched in 2009 by a person or group using the name Satoshi Nakamoto.

The price of bitcoin has grown by more than 700% in 2017 and Ethereum price rose at phenomenal 3,900% — all early buyers have seen a few zeroes adding to their holdings. That’s why more and more people became interested in bitcoin and started making their first steps on this hard way.

But there are an early adopters, who have already become self-made millionaires.

Do you need some examples? We consider it would be interesting to share their experiences with you. Meet the people who actually become bitcoin millionaires by mining or buying the crypto currency.

Let me tell you a story…

The youngest!

Eddy Zillan got a nice present on his bar mitzvah (at age 13) in 2012 from his parents — $5,000 and he started buying cryptocurrencies. Total Eddy’s $12,000 investment is now worth over $500,000, he gained 4,100% in a few years.

Now Eddy is a high school senior in Orange, Ohio. He plans to study dentistry, but if that doesn’t work out, he has a Plan B, since he just launched a company that provides tutorials and insights on cryptocurrencies.

When he was 12, Erik Finman made a bet with his parents — if he becomes a millionaire before turning 18, they won’t force him to go to college. Today, at the age of 18, he owns 403 bitcoins! He also has investments in Ethereum and Litecoin. Officially Erik left school and manages his and his family’s bitcoin investments, lives in Silicon Valley and keeps himself busy with all kinds of projects that have no connection to school.

Jeremy Gardner is another self-made millionaire that made a fortune in bitcoin — now he travels the world, partying and plotting the future of money. “By dedicating my life to crypto assets and blockchain technology, I’ve made more money than I would have ever expected to make in my entire life”, he said to Business Insider. He bought his first coins in 2013 by friend’s advice. Soon after that he threw all of his savings and stock holdings into crypto investment and became a true bitcoin evangelist. In 2013, Jeremy launched a blockchain-based market forecasting tool called Augur that raised $5.3 million in an ICO in 2015. In 2014, he founded the Blockchain Education Network, a network of cryptocurrency clubs at universities around the world. He lives in house called the Crypto Castle with other 7 people. Nearby is a building residents call the Crypto Crackhouse. It has long hallways called Bitcoin Boulevard and Ethereum Alley.

Crypto Castle

It is also worth to mention a story of Kristoffer Koch from Norway, who bought 5,000 bitcoins in 2009 and completely forgot about them until the bitcoin hit the media headlines again in 2013. He ended up with a pot of bitcoins worth (at the time of discovery) around $886,000!

And finally the TOP 7 People Getting Very Rich Because of Bitcoin!

7. Yifu Guo — $5 million

“It’s not about how much bitcoin is worth. The exchange rate is irrelevant. It’s about the concept.”

NYU student Yifu Guo was mining Bitcoins to earn some extra cash. Eventually Guo began to understand the potential and future of Bitcoin’s blockchain. Later he dropped out of school and in 2012 founded the first application specific integrated circuit (ASIC) miner manufacturing company for Bitcoin named Avalon — the first Bitcoin mining company. The miners produced by Avalon got so popular that they were being sold as soon as they were released at a much higher price. The ASIC chips were almost 50 times faster than graphics card and they cost much less. People were prepared to pay higher prices for the ASIC miners. In ebay a single $1,500 miner was sold for as much as $20,000.

Soon Guo left Avalon, and many companies started to build and sell mining rigs, but he was the first one to do it and was the first one to become a millionaire by building these miners.

6. Winklevoss Twins — $11 Million

“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.” — Tyler Winklevoss

These twin brothers are early adopters of Bitcoin and have earned $11 million with it. In 2013, they invested a huge amount in BitInstant Bitcoin and they claimed to hold 1% of the total existing bitcoins this year. After this, they founded the Winkdex, a company that tracks the average price of Bitcoin. In 2015, the twin brothers opened their first Bitcoin exchange in Gemini. Their net worth is over USD 400 million.

5. Tony Gallippi — $20 Million

“Bitcoin is Money Over Internet Protocol.”

Tony Gallippi is founder of the company Bitpay. It was the first company that created a Bitcoin payment processor and the first company to have agreements with major retailers. These days, it processes $1 million worth of payments each day.

4. Jered Kenna — $30 Million

“If we remember, 15 years ago if you were doing anything on the Internet you were going to make millions. I think it could be the same with bitcoin.”

Jered Kenna started to invest in Bitcoin when its value was only 20 cents. Later he traded them for $258 each. This was just one of his multiple batches. He launched several ventures: Tradehill was his first company — an anonymous Bitcoindark mining pool. He is owner of craft brewery in Colombia and 20 mission collaborative workspaces for entrepreneurs in San Francisco.

3. Dave Carlson — $35 Million

“I consider it absolutely high-risk investment. And like high-risk investment should be, it has been high reward. I’m talking about tens of millions of dollars of return on a few million dollars of investment.”(about mining)

Beginning in 1999 Dave has played a primary role in several multimillion dollar startups and personal ventures. Dave Carlson is a software engineer and 10 year veteran startup entrepeneur. In 2010, Dave discovered bitcoin and he’s been innovating in the space ever since. His experience in starting new businesses and his love of technology were a perfect match for the new world of bitcoin mining. Dave Carlson founded the MegaBigPower mining company right from his house basement. He reported that he was making $8 million per month in 2016.

2. Charlie Shrem — $45 Million

“Bitcoin is Cash with Wings”

Charlie Shrem was a senior at Brooklyn College in the year 2011 when he first know about Bitcoin. He started to acquire Bitcoins in the early stages at a very low price. He bought 500 coins at $3. When the price rose $20 he bought thousands more. Charlie Shrem founded a company named Bit Instant which allowed users to buy Bitcoins from over 700,000 stores including Duane Reade and Walmart. Shrem’s total estimated worth is USD 45 million.

1. Roger Ver — $52 Million

“If you care about liberty, the nonaggression principle, or economic freedom in general you should do everything you can to use Bitcoin as often as possible in your daily life.”

Roger Ver is also known as “Bitcoin Jesus”. He is the wealthiest bitcoin millionaire (not counting Satoshi Nakamoto). He is essentially known for his former ventures most notably the run for California State Assembly in year 2000. When he first learned about Bitcoin he gave up his daily works and started reading about it at a straight and sleeping for just one hour. One week later he was checked in hospital and medicated for proper sleep. He was one of the early investors of Charlie Shrem’s Bit Instant. His biggest investment involving millions of dollars are BitPay, Ripple and Blockchain. These three projects yielded him a giant profit. His estimated net worth is over USD 52 million.

Instead of Conclusions: What Can You Learn From The Cryptocurrency Millionaires?

Yahoo Finance made a survey conducted via SurveyMonkey with 1,011 poll respondents saying they’ve purchased Bitcoin, 71% have made money. So we all have good chances to earn money!

All cryptocurrency millionaires have few common features. They follow their dreams and they own their opinion and positions, despite of other people opinion. They are risky, but they make their moves with DYOR rule. They strongly believe in what they are doing, but know that can lose money even if they made great research before.

So we are strongly recommend you to join Crypto world. Yes, sometimes it is unpredictable and mind-blowing, but it always rewards the one who believes in it!

References

1. http://cryptocurry.com/investments-2/top-7-people-became-rich-bitcoin/

2. https://finance.yahoo.com/news/meet-people-getting-rich-bitcoin-181650451.html

3. https://medium.com/cryptolinks/what-can-you-learn-from-the-cryptocurrency-millionaires-e0d9f89debf9

4. http://www.businessinsider.com/jeremy-gardner-bitcoin-entrepreneur-30-2017-8

5. https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html