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Thursday, January 21, 2021

Cryptocurrency Has Certainly Helped These Bitcoin Investors Accrue Immense Wealth

Several Bitcoin investors who invested before the tech boom occurred had no idea that they would be able to get so fortunate. John Ratcliff, a developer of video games from Colorado bought Bitcoin all the way back in 2012. Back then, the token had a worth of 13 bucks. The next year, the value increased to $72. Interestingly, the value of the date was actually in the thousands- if the current value of bitcoin is to be taken. Just the previous week, Bitcoin topped at $40,000. Goes without surprise, quite a few people turned into millionaires overnight. And those were the same bitcoin investors who stuck behind it since its early days.

How Have Bitcoin Investors Benefited Since The Last Windfall?

One of the features that gives Bitcoin its notoriety is its volatile decentralized currency. This implies that there are no singular institutions or banks that would guarantee any form of investment in return. The digital currency relies on a peer-to-peer distribution network which is also called the Blockchain. Most bitcoin investors have paired up with heavyweights like PayPal and Square to get the best out of this currency. 

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John Ratcliffe isn’t the only one benefitting. Nikki Beesetti, a crypto trader from Chelsea had previously invested in 2017- at a worth of $2000. The 24-year old has been successful in paying her student loan off, along with the loan she took for her Tesla Model 3. 

Beesetti believes that cryptocurrency is the only way to be financially free. This bitcoin investor does have a regular job as a product manager- but her main source of income is Bitcoin. 

Niko Dalagelis, one of the fortunate bitcoin investors, had bought cryptocurrency back in 2011. His jewelry shop is one of those that accept Shopify. He hasn’t touched what he has earned from bitcoin- claiming it to be his retirement fund. 

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Considering the present valuation of Bitcoin, can we blame Bitcoin investors for sticking to the cryptocurrency despite its volatility?

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