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When $27 of Bitcoins Equals $980,000, The FBI On Seizing VS Owning Bitcoins And Coinbase Aims To Become The Gmail of Bitcoin, Etc.: http://goo.gl/GjV6gK
A Norwegian man who bought $27 worth of bitcoins in 2009 and forgot about them discovered their value had since shot up – to $980,000 at today’s price.
Kristoffer Koch decided to buy 5,000 bitcoins for only 150 Norwegian kroner ($26.60) in 2009, after discovering bitcoin as part of an encryption thesis he was working on.
Koch probably didn’t think he would become wealthy as a result, but his 5,000 BTC has turned into a goldmine. It was a wise investment by someone who stumbled across bitcoin before many others did.
Koch found that his bitcoins were worth 5 million Norwegian kroner ($886,000) when he checked back in on them. At the current Bitcoin Price Index of $196, those coins are now worth about $980,000.
After purchasing the 5,000 bitcoins, Koch pretty much forgot about them altogether. That is, until the price shot up to over $200 back in April and he started seeing press coverage about bitcoin’s rise.
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