There are numerous success stories of individuals who have become Bitcoin millionaires. Following the release of the inaugural cryptocurrency wealth rankings earlier this year, several of these Bitcoin tales gained widespread recognition. However, some remain relatively unknown. In this article, we explore a few of these Bitcoin stories to understand the diverse paths to success in the cryptocurrency market and how individuals have achieved millionaire status through Bitcoin.
Kingsley Advani – Early Investor
Kingsley Advani became a Bitcoin millionaire at the age of 24 by investing in cryptocurrencies after being introduced to the industry by a friend in 2012.
Advani’s path to Bitcoin wealth involved significant risk; he sold his possessions and withdrew thousands of dollars from his savings. He invested $34,000 and earned a low seven-figure sum within six months.
Currently, Advani travels the world, working as an advisor for cryptocurrency startups in London, New York, and San Francisco.
Erik Finman – Early Investor
Erik Finman is known as one of the youngest cryptocurrency millionaires. He started investing in cryptocurrencies back in 2011 when each Bitcoin (BTC) cost about $12. After receiving $1,000 as a gift from his grandmother, his brother, Scott, suggested he buy Bitcoin.
By the end of 2013, he sold his Bitcoin when the price reached about $1,200 per BTC, earning $100,000. With this money, he started an education tech company called Botangle in early 2014.
In 2015, an investor offered to buy Finman’s company. The investor gave him a choice between $100,000 or 300 BTC. At that time, each Bitcoin was worth only about $200. However, Finman believed in the future of cryptocurrency and chose the 300 BTC.
By the summer of 2017, Finman owned 403 BTC. As of July 2018, this investment was worth around $2.5 million.
Eddy Zillan – Early Investor
Eddy Zillan is another great example of turning a small investment into millions of dollars. When Zillan was only 15 years old, he started investing in cryptocurrencies.
At first, there were no online resources like books, YouTube tutorials, or other investors to help him. His initial investment was small compared to other Bitcoin stories in this article.
Zillan began by investing just $100. On the first day, he made $10 in profit. As cryptocurrency prices went up, Zillan invested more money. Within a few months, his portfolio grew to $350,000. By early 2018, when he was 18 years old, his portfolio was worth over $1 million.
Ian Balina – ICO Investor
Ian Balina’s journey to cryptocurrency wealth is interesting for several reasons. Unlike the people in the other Bitcoin stories who mostly invested in BTC when prices were extremely low, Balina invested in various ICOs of emerging cryptocurrencies.
Balina created a public Google Spreadsheet so other investors could see which projects he invested in. He also developed a rating system and included reasons why he chose not to invest in some popular projects. However, for those interested, Balina’s document has been offline since July 2018.
Another unique aspect of Balina’s story is that he often posted screenshots from his Blockfolio app on social media to regularly show his followers how his investments were doing. His wealth started at around $100,000 and reached a peak of about $6 million, although he later experienced a hack.
Olaf Carlson-Wee – First Employee at Coinbase
While the previous examples show how early investments and good market timing created Bitcoin millionaires, not all Bitcoin stories are just about investing. Olaf Carlson-Wee’s story shows how working for a small startup can be very rewarding.
Carlson-Wee first bought Bitcoin when it was $16 per BTC. Even though this seemed like a great investment in 2018, the price soon dropped to $2 per BTC. Despite this, Carlson-Wee didn’t give up on cryptocurrency.
Believing in the future of cryptocurrency, Carlson-Wee applied to be Coinbase’s first employee in March 2013. Instead of getting paid in dollars, he chose to be paid in cryptocurrency.
In July 2016, Carlson-Wee left Coinbase to start his own cryptocurrency hedge fund, Polychain Capital. According to one report, Polychain’s assets grew from about $4 million to $300 million in 2017.
Barry Silbert – Entrepreneur
Barry Silbert is the CEO and founder of Digital Currency Group (DGC), which has invested in about 75 crypto-related companies. DGC is known as the top company in the world for cryptocurrency investments, with $300 billion in assets under management in 2017.
Silbert also owns other companies focused on the cryptocurrency market, like Genesis, Grayscale, and Bitcoin Investment Trust. His Bitcoin story shows how entrepreneurs who find opportunities can succeed in the cryptocurrency market.
What makes Silbert’s story interesting is that he started as a Wall Street investment banker, which is a traditional finance job. But he saw the potential of the new cryptocurrency market to change the future of technology and finance.
Who Will Be the Next Millionaire?
It will be interesting to see what the Bitcoin millionaires on this list will do with their money in the future. Will they keep their Bitcoins, or will they sell them? What roles will they play in the growth of the cryptocurrency market? As we’ve seen before, there are many new business opportunities made possible by blockchain and cryptocurrency.
While it might not be as easy to make big profits from a small investment as it was a few years ago, the market could change a lot. This could create the chance for new Bitcoin stories and new Bitcoin millionaires to emerge.
Reference: COIN CENTRAL
