Smith graduated college in 2008 and became a software engineer in Silicon Valley. And in 2010 one of his coworkers told him about Bitcoin when the cryptocurrency appreciated tenfold from $0.008 to $0.08 over the course of five days. After a few months of research, he decided to invest $3,000 into BTC paying $0.15 per 1 BTC (sounds crazy, isn't it?) And back then digital currency was far from popular.
The guy forgot about his investment till 2013, when BTC price started to rise. When the price hit $350, more than two thousand times what he paid for it, Smith sold 2,000 of his early stock; when the price hit $800 just days later, he sold 2,000 more. That's when he landed with $2.3 million and decided to quit his job to travel the world.
How much has he profited from Bitcoin overall? $25 million from an initial investment of $3,000—those are the sort of returns that make a crypto millionaire. Of course, Smith still owns 1,000 BTC, which he plans to sell, when the price reaches $150,000 (he really thinks it will get there!)
Smith is the epitome of new money, a millennial millionaire with no reservations about flaunting his wealth.