Accountant's Bitcoin Fortune
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Sam Parr shares a story about an accountant who made a bold bet on Bitcoin and became incredibly wealthy.
"I had a friend tell me about their best friend. He was an accountant who, at age 30, saved up $2 million working on some large deals at a big company. He was able to capture some commissions as an employee. With that $2 million, he angel invested a little bit, and one of his investments made about half a million dollars.
So there he was, sitting with $2.5-3 million in his mid-thirties. About 20 months ago, when Bitcoin was around $3,000, he put everything into Bitcoin. He saved just $10-20,000 for living expenses and even borrowed additional money on margin.
Last December when Bitcoin hit $65,000, his $3 million investment turned into around $100 million. He sold about half of it, creating a nice cushion, then up and left to move to another country because he believed that country was the future.
The point of the story is that while I'm not this type of crazy person - I have a family and wouldn't make such bold moves - I'm thankful these types of people exist. That type of boldness, even though rooted in some selfishness to get rich, is what pushes society forward and turns crazy stuff into normal, common things for us."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.