Man bought $27 in bitcoins in 2009, now has almost $850,000

Bitcoin enthusiast Mike Caldwell poses at his office in Sandy, Utah, September 17, 2013. REUTERS/Jim Urquhart
Bitcoins are currently worth about $200 apiece. Credit: Reuters

Kristoffer Koch found a fortune when he rediscovered the bitcoins he purchased in 2009: To be exact, he found about 5 million Norwegian krones, or roughly $849,345, reports NRK.

Koch was studying encryption in 2009 when he stumbled upon an Internet currency called bitcoin. He found the concept interesting and thought it would be fun to invest in the currency and bought 150 Norwegian krones’ worth, or roughly $25.50. He forgot about his small investment when he got busy finishing his degree and starting his job search, but he started hearing about bitcoin again in April when its value soared and the cryptocurrency received wide media coverage.

He told NRK, “Then I thought, didn’t I have that?”

After all of the time that had passed, Koch had forgotten his password, and he frantically tried different encryptions until he remembered the right one. Then, he saw that he had purchased 5,000 bitcoins — with a current value of 5 million Norwegian krones.

The windfall has landed Koch a three-bedroom apartment in Oslo and the jealousy of millions of people worldwide.

The currency is worth about $200 for one bitcoin today. The digital currency cannot be traced, which made it ideal for illegal purchases like those on online drug marketplace Silk Road.



News
Entertainment
Sports
Lifestyle
National

Mutant worms stay sober, even on alcohol

U.S. researchers have developed "mutant worms" that do not get drunk by alcohol, a breakthrough that could lead to new treatment for people trying to quit drinking

Local

K-9 nose helps capture $150K in cocaine at…

A furry, four-legged security agent helped authorities stop an illegal cocaine shipment from sneaking past JFK customs.

National

Minnesota man asked to leave Southwest flight after…

A man and his two sons were asked to leave a Southwest Airlines flight after the man sent a tweet complaining about being treated rudely by a gate agent.

National

Man sues hospital after surprise penis amputation

An Alabama man who went in to a hospital last month for a circumcision awoke after surgery to find his penis had been amputated, his lawyer said on Thursday.

Movies

Review: Brett Ratner's big 'Hercules' movie is small…

The latest "Hercules," starring Dwayne Johnson as the half-god beefcake of Greek myth, strips its hero and tale of most of its fantastical elements.

Arts

Scientists recreate world's smallest Monet copy

Scientists have reproduced a famous Impressionist painting using nano-printing, to create what has been described as the world's smallest work of art. Reworked at the…

Television

Jerry Seinfeld is ambidextrous, and other Reddit AMA…

See some of the weirder highlights of Jerry Seinfeld's recent Reddit AMA.

Going Out

Grab a pedestrian and start dancing at What…

As a New Yorker, I’ve mastered the art of focusing my gaze straight ahead. Though it occasionally piques my interest, the absurdities that play out…

NFL

2014 NFL Fantasy Football Top 100 overall player…

2014 NFL Fantasy Football Top 100 overall player rankings

U.S. Soccer

NYCFC announce signing of Frank Lampard

The tease of a big signing Thursday by new MLS side NYCFC ended up being one rumored for weeks. England midfielder Frank Lampard agreed to…

NBA

NBA great LeBron James sends 800 cupcake apologies…

By Kim PalmerCLEVELAND (Reuters) - NBA star LeBron James, whose recent return to the Cleveland Cavaliers in his home state of Ohio sparked a frenzy…

NFL

Jerry Reese confident with Giants, skipping countdown clocks…

Last year, Giants GM Jerry Reese installed a countdown clock in the locker room to inspire Big Blue to play in their own stadium for Super Bowl XLVIII.

Tech

Forget Wi-Fi: Li-Fi could be the future

Li-Fi technology – developed by Mexican company Sisoft – is wireless internet connectivity using specialized LED light.

Tech

Weather app Climendo might be the most accurate…

The wait for a truly accurate weather forecast could finally be over thanks to a nifty new app called Climendo.

Tech

Napkin Table puts focus off the phone and…

Michael Jan, a design student at Tunghai University in Taiwan, has invented a serviette-picnic blanket hybrid called the Napkin Table.

Style

Essie's new Color Boutique

Essie launches high-tech kiosks at major airports and malls across the country.