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How Koch’s $27 Bitcoins Turn into $12,500,000 Profit

How about it if your college asks you to work on thesis and in return you’ll become multi-millionaire?

Well you’ll definitely be thinking how it could be possible but yeah friends, it has happened.

A Norwegian student who was asked to work on encryption thesis during college hours, he’s become multi millionaire just because of that thesis. A guy name Kristoffer Koch bought 5000 Bitcoins in 2009 for just 150 Norwegian kroner ($26.60).

Kristoffer Koch invested 27$ in 2009 to buy bitcoins

Kristoffer Koch invested 27$ in 2009 to buy 5000 bitcoins

Bitcoin was the part of encryption thesis on which Koch was working on that time. Hence he bought 5000 unit. After completing thesis he forgot about those 27$ he invested and when in April 2013, media suddenly started exploring the news about digital currency and bitcoin, Kristoffer discovered about his investment and soon he found to be millionaire himself.

In October 2013, Bitcoin’s price got huge push and it reached to near 200$ per unit. Hence with that boost in the price, Koch Kristoffer’s 5000 bitcoins of 27 dollar became real money asset of 886,000$. In an interview to NRK he said, “It said I had 5,000 bitcoins in there. Measuring that in today’s rates it’s about NOK5m ($886,000).”

Th above mentioned data is of as per October 2013 and if we calculate those 5000 bitcoins in today’s bitcoin price value. It becomes huge for Koch Kristoffer as his 27$ investment has turned up into $12,500,000 profit. The below given table will let know the difference in bitcoin’s price entity in two different years.

Bitcoin price difference in 2009 and 2017

Bitcoin price difference in 2009 and 2017

However Kristoffer bought an expensive apartment in Oslo’s wealthy area. However he didn’t spend single penny in 2013 to buy the apartment as he exchanged 1/5th of his bitcoins i.e. 1000 bitcoins to purchase luxury home in Oslo, Norway.

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