UK Daily Mail
October 30, 2013
A bitcoin investor who forgot he bought £17 of currency four years ago is sitting on a small fortune now worth more than half a million pounds.
The meteoric rise in the internet-based money has meant that within the space of four years, Norwegian Kristoffer Koch has made a huge profit, the Guardian reports.
He invested 150 kroner (£17) in 5,000 bitcoins in 2009, after discovering them while writing a thesis on encryption.
He forgot about them until he started seeing media coverage of the digital currency in April this year.
Bitcoins are stored in encrypted wallets secured with a private key. Mr Koch had forgotten his password but when he eventually remembered it he was stunned by how much they had jumped in value.
‘It said I had 5,000 bitcoins in there. Measuring that in today’s rates it’s about NOK5m (£551,000),’ Mr Koch said.
This article was posted: Wednesday, October 30, 2013 at 6:21 am