YouTube sensation Jake Paul has made an interesting reveal about a investment in Bitcoin which he did at the age of 16. The YouTube star thrilled his followers with the news on Twitter when he revealed that the $ 100 Bitcoin purchase he made at 16 is now worth $ 46,000.
As quoted in his tweet, “When I was 16, I invested my entire first Vine brand deal in Bitcoin when it was worth $ 100. After 8 years of holding, it is now worth $ 46,000 ”. The famous "hodling" strategy that Jake employed has been proposed by analysts as the least dangerous and most profitable long-term investment strategy in the cryptocurrency market.
Jake Paul backs DogeCoin
Apparently Jake Paul also has his gaze fixed on Dogecoin. Like Musk, Jake Paul envisions a promising future for Doge. "Dogecoin is the little brother of Bitcoin … they have the same potential … it is still early", added. DOGE, which at the time of the report saw a 7% price drop, has obtained free public relations from an engaged fan; Elon musk.
With Jake Paul's PR combined, DOGE is poised to receive massive media attention in the future. Although if that is enough to send you to the Moon or Mars is a question that must be left in time, the digital asset has had a good streak in the market since the year began.
The next set of Bitcoin millionaires may already be here
While Jake's investment returns don't add much to his estimated net worth of $ 17 million, many young people who invested slightly more than Jake around the same time have cashed in millions. One notable personality that falls into this category is the youngest self-proclaimed Bitcoin millionaire, Erik Finman, whose $ 1000 investment in Bitcoin can be credited as the sole reason for his $ 4.8 million net worth. While the first batch of Bitcoin millionaires were mostly Gen X, millennials and Gen Z seem to have claimed their place in the whale market.
Possible diversification in location is possible in the future as developing countries like Nigeria and India are pioneers in adopting Bitcoin. According to data from Bitinfocharts, there are currently more than 92,000 wallet addresses with at least $ 1 million in Bitcoin.
Last year, only slightly more than 25,000 addresses fell into this category, however the new data could be an indicator of the fact that new Bitcoin millionaires were made in the last 12 months. With Bitcoin prices rapidly accelerating, and with more than 400,000 addresses with over $ 100,000 in Bitcoin, the number of millionaires in the community is expected to increase.