$27 Bitcoin bought in 2009 becomes $886k

  • Kristoffer Koch completely forgot about the $27 he bought in Bitcoin while researching on encryption. This is sure to have been his best move ever since he recently discovered that four years later, his 5,000 Bitcoins were worth much more: $886,000. 

    Only fifth of his investment enabled Koch to live in one of the wealthiest areas in Oslo. 

    His Bitcoins could have been worth more this week but the currency fluctuates continuously. For instance, a Bitcoin, which was worth $13 in January, went up to $266 in April and then came down again for a certain period of time when the FBI seized the online drug bazaar Silk Road. 

    The currency is on its way to becoming much more mainstream; an ATM allowing for transactions involving Bitcoins has recently been opened in Canada. 

    Tagged as: bitcoins, bitcoin currency, bitcoin currency fluctuation, money news, business news