There are many people who have made a lot of money by investing in crypto such as Bitcoin, Ethereum, and even Doge Coin. However, the New York Times (NYT) reported on the 7th (local time) that speculators who put money in the so-called “listening cryptocurrency” have made a lot of money in the past two years.
Etienne Vankrus, who lives in Amsterdam and invests in cryptocurrency around the world, bought $25,000 worth of coins two years ago after hearing that Luna is a cryptocurrency for the distributed financial industry. Luna has currently risen to $50 per coin, with his assets on the books but reaching $5 million.
Cryptocurrency prices have plummeted recently, but profits are still enormous. Solana’s value, made as an alternative to Ethereum, rose 6,000 percent from January last year. Cryptocurrency called Cardano rose 500%.
It shows how widely the huge additional cryptocurrency phenomenon created by these various coins is spreading. There are more than 11,000 existing cryptocurrencies, and anyone can create cryptocurrencies with just a little program. There are also cryptocurrencies linked to the “DeFi” project, a decentralized platform for lending and borrowing money, and cryptocurrencies made for video games such as Axie Infinity. These cryptocurrencies are different from cryptocurrencies such as Doge coin, which are mischievous in that they are generally made for specific purposes. Doge Coin also saw its price soar last year.
People from various walks of life earn money from cryptocurrency. Some people have already made money from Bitcoin or Ethereum, while others have made a lot of money overnight.
Cryptocurrency millionaires say they don’t know how to spend their money. Some people spend money like water, some people buy nice apartments, or hold parties abroad. Some people have moved to tax heaven such as Puerto Rico or have jumped deeper into the cryptocurrency world to abandon their jobs and make more money.
