Fluctuations and peaks make Bitcoin attractive to many today. Point in case, one Bitcoin is currently valued at $202, but it dropped as low as $110 on October 3 after the FBI shut down Silk Road.
That’s a huge fluctuation over a short period — what if you bought Bitcoins back in, say, 2009? Answer: You could be buying a house from one part of the proceeds, as Norway-based Kristoffer Koch recently did.
Media interest in Bitcoin this April prompted Koch to rediscover a 150 kroner ($26.60) investment, made in 2009, by which time his 5,000 BTC hoard was worth 5 million kroner ($885,520). Koch promptly cashed in one-fifth to buy a flat in a fancy part of Oslo.
You obviously won’t get that kind of value today, but there may well be money still to be made investing in Bitcoin.
➤ Norwegian student Kristoffer Koch buys $27 in bitcoin in 2009, now he owns an apartment [News.com.au]
Image via nrk.no, thumbnail via Zach Copley/Flickr
Get the TNW newsletter
Get the most important tech news in your inbox each week.