25-year-old Norwegian Kristoffer Koch didn’t have much faith in a bright future for Bitcoin back in 2009.
Nonetheless, after having read a paper by Satoshi Nakamoto in 2008, he decided to get some bitcoin. He managed to buy 5,000 Bitcoin. The paper – written by the founder/s of Bitcoin – impressed and interested Koch, as he had taken a strong interest in novel technology.
Much like all those things you might buy and end up gathering dust in the back of your closet, Koch’s made the purchase and forgot all about it for years. He hadn’t really meant to use the money anyway, and as he put it, The only thing you could buy at that time was alpaca socks, so I just got on with my life and forgot about the whole thing and concentrated on getting a real job instead”.
Kristoffer Koch in a less-than-flattering photo
It was four years later that Koch happened to notice reports stating a rise in the value of the cryptocurrency. Bitcoin’s value had been steadily rising under the influence of the increasing usage of the cryptocurrency. This was what lead Koch to realize that his Bitcoin was worth nearly a million dollars.
That’s how a 25-year-old started with nearly nothing and ended up with almost a million dollars by 29. “Not in my wildest dreams could I have imagined that they would have soared like this,” he told the Norwegian media.
Koch’s initial investment? Some sources say it was $22, some say it was as high as $27. What it wasn’t is more than the average person can afford. This story comes with a very clear moral. It’s here to prove to the skeptics among us that the fairy tale is possible. This man didn’t even have faith his investment would amount to anything. But he tried anyway. The only way to win a race is to run it.