The Cryptomise Sunday

Author: Mansi Patodi

14-Aug-2022

People who went from Rags to Riches: Stories of Crypto Millionaires

Everyone has heard tales of how Bitcoin and other cryptocurrencies have allowed the wealthy to become wealthier. Some millionaires have even become billionaires because of these digital assets. However, tales of ordinary individuals making large sums of money are rare, but they do exist. And to prove it, we've gathered five ordinary people who have become billionaires due to smart investments in the crypto industry. Let's get started.

Stories of Crypto Millionaires

1. Kane Ellis
Kane Ellis now owns a Maserati and is a billionaire in the world of Bitcoin. His wealth, meanwhile, was unrelated to investment. Ellis, a high school dropout who was 18, discovered mining through his IT job in 2011.

At first, he only made approximately 4 BTC each day, roughly $8 in those days. This was a respectable passive income, but because Ellis foresaw how profitable it may become in the future, everything worked out just right for him. With the money he made from Bitcoin, he founded CarSwap, a popular global website for trading, selling, and purchasing vehicles. Additionally, his Maserati has the license plate "BANKRPT" on it.

2. Erik Finman
Erik Finman, who was 11 years old in 2010, detested attending school. His teacher thought he would never "amount to anything more in life," despite his high ambitions.

One day He and his elder brother went to a demonstration in Washington DC, where he noticed a man wearing a Bitcoin t-shirt. Erik asked his brother about it, and his brother said, "It's going to end Wall Street.

He was motivated, and in 2011, he put the $1,000 in Bitcoin that his grandmother had left with him. At that time, Bitcoin was selling at roughly $10. We've all seen how Bitcoin has skyrocketed in the last decade, making Finman a crypto billionaire.

3. Glauber Contessoto
Popularly known as the "SlumDoge Millionaire." Contessoto hails from a low-income family. Contessto had worked at a music firm and dabbled in stocks for a short time before becoming a billionaire. In one of his interviews, he mentioned that he was "very poor.

Little did he know that destiny had big plans for him. In early 2021 he chose to invest in the meme coin. With no spending power, he sold all of his assets and even borrowed money (in the form of a loan) from the Broker app to buy Dogecoin. Then Elon Musk's tweets drove prices surging, and Glauber Contessoto became a crypto billionaire just over two months later.

4. Rachel Siegel
Rachel Siegel is a well-known figure in crypto land today. She is a Bitcoin billionaire and the creator of Crypto Finally, a platform promoting the widespread use of blockchain technology. Things were not always this nice. In 2017, she was a substitute teacher living "paycheque to paycheque" in a dismal New York apartment. Her life, however, altered once she attended a Bitcoin conference after-party. Siegel then decided to invest the remainder of her weekly paycheque, around $25, in cryptocurrency. Her assets expanded in value over time, touching seven-figure levels in February 2022.