Is it possible to make money with Bitcoins? Well there is no better way to validate the concept of wealth generation by owning bitcoin than to look at the New Rich List
These are just a few people who have made fortunes almost overnight. The list is not exhaustive and if you believe as many pundits do that the value of Bitcoin could reach $10,000 then you still have time to join the list yourself.
And they became Rich with Bitcoins
Number one bitcoin millionaire on the new rich list :
• Charlie Shrem: A mere 23 years old lad, and the CEO of BitInstant, which is in the service of transferring cash to Bitcoins, Shrem came to know about Bitcoins during his Brooklyn College days in 2011.
• He did not mine for coins, but instead bought these electronic currencies over a digital currency exchange called Tradehill. Initially, he bought 500 Bitcoins at $3 to $4
As a college senior in 2011, Shrem started investing in Bitcoin. Soon after, the Bitcoin service Shrem was using crashed, and he lost his bitcoins. Shrem and Gareth Nelson, a friend he met online, had similar frustrations with the length of time it took to buy and sell Bitcoin on exchange sites. They started BitInstant, a more user-friendly company that
charged a fee for users to purchase and make purchases with bitcoins at over 700,000 locations, providing temporary credit to speed up transactions. Initially a side project, BitInstant soon needed to grow, at which point Shrem received a $10,000 loan from his mother. Shortly thereafter, BitInstant received $125,000 from angel investor Roger Ver, and, in the Fall of 2012, $1.5 million from a group of investors led by Winklevoss Capital Management. By 2013, BitInstant was processing approximately 30% of all Bitcoin transactions.BitInstant was in operation from September 2011 until July 2013. At the Bitcoin 2013 conference in San Jose, California, Shrem spoke about the challenges facing Bitcoin companies and the need for them to comply with regulations, as well as the challenges of properly explaining the value and mainstream potential of Bitcoin. He has described himself as a Bitcoin purist, who believes in Bitcoin as a technology that will help the world by allowing citizens to protect their money without banks and other traditional financial institutions.
Number Two bitcoin millionaire :
• Jered Kenna: This 30 year old happens to be the CEO of Tradehill Bitcoin exchange. The story goes that by accident, while wiping his computer clean, he deleted 800 Bitcoins in 2010. Well, that might seem scary, but, believe it or not, it was not a very big deal for him (although the commodity lost is worth around ten thousands of dollars)! In fact, he was one of the initial investors of Bitcoin, purchasing his first lot of 5,000 coins at 20 cents per coin. Today, he is recognized amongst the foremost global authorities across the globe. According to Jered, the investment trend in Bitcoin has shifted from people spending around $500 to people dishing out amounts as high as $1 million.
Number Three bitcoin millionaire :
• Roger Ver: Aged 34, Roger Ver, is a former politician and an investor. Soon after the launch of Bitcoin, Ver became interested in and started to gain ample knowledge about this cryptocurrency. He is sort of an angel investor in a number of Bitcoin startups. He has the peculiar habit of giving away coins for free, and is therefore aptly called “Bitcoin Jesus” by Charlie Shrem. Roger has served as the full time CEO of MemoryDealers.com, directly employing about 30 people, and serving happy customers around the world. Over the last decade, under Roger’s leadership, Memory Dealers has grown to become a world leader in the used Cisco memory and networking equipment industry.
In early 2011 Roger discovered Bitcoin, the most important invention in the history of the world since the internet. MemoryDealers became the first mainstream business to accept bitcoins as payment, and Roger has since become the most prolific Bitcoin related startup investor.
Number 4 bitcoin millionaires:
• Winklevii brother: A lot of people laughed at Tyler and Cameron Winklevoss when they announced that they had acquired $11 million worth of bitcoins. The announcement came on April 11 2013, the day after the virtual currency hit a record high of $266 and then plummeted to $120. Over the next few days, it would fall as low as $50, cutting the value of the brothers’ bitcoin stake in half.
But since then, their investment has paid off big-time. A source close to the
Winkelvoss brothers says they haven’t sold any of their Bitcoins since April 2013. Bitcoins are now worth $660, almost six times the $120 the New York Times quoted in its April 11 2013 story. So that $11 million worth of bitcoins is now worth around $66 million.
But the Winklevii May have done even better than that. The Times reported thaet the brothers “began dabbling in bitcoin in 2012 when the dollar value of a single coin was still in the single digits.” If they bought bitcoins at the July 2012 price of $9, each one is now worth 70 times what they paid for it.