Everyone has a Bitcoin Story

Paul Otto

At the annual World Series of Poker in Las Vegas, professional players and amateurs fight for the title of Main Event Champion, looking to take home a $10m first prize and make poker history. While playing, there is ample time for small talk. Among the popular topics is everyone’s Bitcoin story.

Too Expensive

The recurring chorus: One had heard of Bitcoin early, but never acted on it. Then it was too expensive. As one professional player from Lithuania said: “I heard about Bitcoin in a Magazine when it was $20. I thought it was way overpriced. A few years later, my poker coach talked about Bitcoin, how it worked and how to use it. The price then was around $3000. Again, I thought, it is way too expensive!”

The most curious story came from an American player who had emigrated to Puerto Rico to reduce his tax burden. You could tell he was American before he joined the table by his waist line. Many years ago, he stood accused of his business not paying its rightful taxes. The Nevada Gaming Commission decided to raid his old home in Las Vegas, searching for evidence (or hidden cash), including within the walls of the house. They didn’t find any evidence.

Get Bitcoin and don’t lose your Bitcoin

The house, however, remained in a desolate state for months. Unfortunately, part of the Bitcoin seed words were written on the inside of the house walls. They were irrecoverably lost. Telling apart fiction from fact with such stories is difficult; the player claimed there are 500 Bitcoins on addresses that are now inaccessible – current value around $50m.

Storing crypto assets securely, fail-proof against freak incidents, is essential. F5 Crypto advises on cold-storage solutions for individuals. Our fund gives investors exposure to the most promising small-cap crypto-tokens and uses licensed crypto custodians to store fund assets. We are offering one of the most secure ways to invest.

A famous Bitcoin story in a 2011 Tweet: Greg turned a $100 investment into a $500 cashout. Had he held on until today, the 1700 BTC would be worth over $170m.