Bitcoin, Millionaire Investors, and the Digital Gold Rush
“For convenience and versatility, though, a digital currency can be hard to beat. Right now, Bitcoin remains a highly attractive proposition; it is still hovering near the low $30s.”
Believe it or not, the quote above was taken straight from the pages of Wealth Daily from back in March of 2013.
The article containing this quote was tweeted a total of zero times. It was never shared on Facebook. It was only seen by a few thousand prospective investors.
Yet this has easily turned out to be the best investment advice given over the last half-decade by ANY financial publication that I’m aware of. As a matter fact, I seriously challenge anyone to come up with a record anywhere indicating anything different...
As much as I hate to be the guy who brags and boasts, I’m proud enough of our investment research to say it loud and clear.
Wealth Daily told you to buy Bitcoin when it was trading for just $30 a unit. It's just one of many instances that proves we are way ahead of the game.
If you’re one of our loyal readers who’s been with us since 2013, I really hope you listened because today the landmark digital currency is hovering near $6,000.
I want you to honestly stop and think about that for a moment if you haven’t already. That’s a return of 20,000%. When we look at the number on paper, it hardly feels real... But it is.
Today, there are literal “Bitcoin millionaires” out there who, only a few years ago, were just your everyday average Joes and Janes with some extra money to invest.
Even today, there’s nothing special about most of these people aside from their money. They don’t possess any special skills, they don’t sport particularly high IQs, and they certainly aren’t the best money managers out there.
They’re just regular people who made one good decision and became filthy rich.
That’s all it really takes: one good decision, and you’re practically set for life.
Watching these Bitcoin millionaires do their thing is entertaining to say the least. A lot of them have so much money now that they don’t even know what to do with it.
Take the curious case of the “Crypto Castle,” for example.
These guys are certainly more well versed than your typical Bitcoin investor. They’re entrepreneurs fully entrenched in the space... but as far as your stereotypical millionaire goes, they really don’t fit the bill.
The Crypto Castle is a crowded residence of young individuals (nearly a dozen in just three bedrooms) who’ve made millions of dollars investing in Bitcoin. You’d think they’d all be living in their own mansions by now, but they’re literally sleeping in bunk beds, crammed under a single roof in the hip little neighborhood of Potrero Hill in San Francisco.
The premise is so ridiculous it bears repeating: There are a bunch of millionaires who made their fortunes investing in digital currency sleeping next to each other in bunk beds.
I like to imagine they’re also smoking bongs on the regular, furiously playing Mario Kart, and microwaving blocks of ramen noodles for dinner... but that’s just a personal speculation.
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In any event, this all raises questions as to why anyone would be living in those kinds of conditions when they have so much money at their disposal.
Unless I was renting a log cabin or visiting my alma mater for the weekend, you sure wouldn’t catch me sleeping in stacked beds... At the very least, I’m calling top.
It’d be easy to brush this all off as typically weird millennial behavior, but the truth is there’s something bigger going on here. In fact, I can give you two reasons why someone who’s made their fortune in Bitcoin would be living in what seems like a perpetual summer camp...
For one, there’s an issue of liquidity. These kids might be worth millions, but the reality is they’re not holding that much in cash. Their primary asset is digital currency, and they’re continuing to ride it on the way up.
Needless to say, that kind of buy-and-hold strategy takes some serious guts, maybe even a certain level of stupidity... but it sure says something about their underlying faith in this new asset class.
Perhaps more important, though, is the constant networking these entrepreneurs get by living in such close proximity. To be a resident, you’re required to read mandatory material on digital currency, so it’s not just fun and games; it’s actually about business, too.
In other words, there’s conviction in what they’re doing... so much so that it’s apparently worth sleeping in a closet.
Now, I’ll admit I’m a little too old for that kind of thing and past my days of sharing quarters with a bunch of young adults. Still, we’ve become so fascinated with this motley Bitcoin crew here at Wealth Daily that we’re sending our own digital currency expert, Alexandra Perry, out there next week to get the scoop.
The folks at the Crypto Castle were kind enough to invite us out for an interview so we can find out what they’re up to and gain some of their valuable perspectives on the exploding world of digital currencies and tokens.
Alexandra will be seeing firsthand what it’s like to live in the Crypto Castle. She's even looking to get a bunk reserved for the night, so here’s to hoping she doesn’t get in too much trouble.
That content should be heading your way next weekend, so be sure to keep an eye out for an email from Alexandra.
In the meantime, I strongly encourage you to review our free presentation on digital currency investing and the host of profit opportunities we once again see unfolding.
I can confidently say it’s not too late yet to start investing in what Forbes is calling “The Future of Money.” The start of your journey is literally just one click away.
Until next time,
Jason Stutman is Wealth Daily's senior technology analyst and editor of investment advisory newsletters Technology and Opportunity and The Cutting Edge. His strategy for building winning portfolios is simple: Buy the disruptor, sell the disrupted.
Covering the broad sector of technology and occasionally dabbling in the political sphere, Jason has written hundreds of articles spanning topics from consumer electronics and development stage biotechnology to political forecasting and social commentary.
Outside the office Jason is a lover of science fiction and the outdoors, and an amateur squash player at best. He writes through the lens of a futurist, free market advocate, and fiscal conservative. Jason currently hails from Baltimore, Maryland, with roots in the great state of New York.
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