Home
 
Choose Your City
Change City

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

One Norwegian man found his $25 investment in bitcoin grow to nearly $850,000 after just four years.

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?"

RelatedArticles

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.

 
 
Consider AlsoFurther Articles