Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Man Scores BIG With Forgotten Bitcoin Investment
Posted
October 31, 2013
Views
74,140
Likes
1,648
Comments
777
Engagement
3.27%
October 31, 2013
74,140
1,648
777
3.27%
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3:49
4:06Now PlayingThe meteoric rise in bitcoin has meant that within the space of four years, one Norwegian man's $27 investment turned into a forgotten $886,000 windfall.
Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer digital currency in April 2013 jogged his memory.
Bitcoins are stored in encrypted wallets secured with a private key, something Koch had forgotten."* The Young Turks hosts Cenk Uygur and Ana Kasparian break it down.
*Read more here from Samuel Gibbs / The Guardian:
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