A Norwegian man who bought $25 worth of Bitcoins on a whim in 2009 reopened his digital wallet recently to discover that his investment was now worth around $848,000.
Back in 2009, Kristoffer Koch was a student writing his thesis about encryption when he happened to come across Bitcoin’s fledgling service and decided to spend a little money. After paying $25.43 (around 150 Norwegian kroner) for the Bitcoins, Koch soon forgot about his purchase, never suspecting just how important digital currency might become.
Fast forward 4 years to 2013, and digital currency has become a talking point all over the internet. With mentions of Bitcoin and decentralized currency making the news more often, Koch was prompted to wonder what his investment was worth these days. After some trouble retrieving his encrypted password, Koch managed to open his Bitcoin account to find that his little investment was now worth almost 34000 times what he had paid for it.
Koch soon began to turn his Bitcoins into real coins, withdrawing around $75,000 per day from his digital wallet. The unexpected windfall has partially been put to use purchasing an apartment for Koch, which is currently being renovated.