1,000,000 Percent Bitcoin Return

Thanks to a friend of mine who pointed out this article to me, thanks J 🙂

A guy in Norway bought 5,000 Bitcoins in 2009 for less than $27 while he was doing a thesis in encryption. He since forgot that he had them and after seeing all the media coverage recently remembered. He found them and checked the value only to find they were know worth ~$886,000! Not a bad return at all of 3,321,406% ROI on an investment or 1,250% annual compounded return! Forget Marty McFly’s sports almanac, just give me 2009 Bitcoins.

The money he got was enough to buy an apartment in an expensive Olso neighbourhood and still keep 80% of his Bitcoins. Obviously this is an extreme case and not something I would suggest that anyone expects moving forward, but a great story nonetheless. Also to remind you that this was an accidental investment made long before any of us had even heard of Bitcoins.

The question for now is, do you think it’s worth buying Bitcoins outright and holding them?

The original news story can be found here at The Guardian’s site.