The Current Wave

The Current Wave

Bitcoin: The Revolution

Andrew Sok, Staff Writer

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A graduate of North Kingstown High School in 2016 (who would like to remain anonymous) has stated that he made millions of dollars off the company Bitcoin.

Bitcoin is a type of digital currency (cryptocurrency) that isn’t backed up by a central bank or a government.

Bitcoin can be used to buy goods or services. Bitcoin transactions are made digitally and anonymously. Bitcoin can be stored in a digital wallet, which has addresses to send and receives Bitcoin.  

Bitcoin was invented by Satoshi Nakamoto and big name companies that accepts Bitcoin include; Microsoft, Subway, Newegg and Reeds Jewelers.

He said that he learned about Bitcoin when he was 14 years old, when Bitcoin was only worth a couple of dollars.

“I took all the savings I had, which was $1,500, that was all Christmas and birthday money,” he said.

He cashed out in December, he had thousands of Bitcoins. Having each Bitcoin worth about $18,500.

Even with the potential fortune, he said, right now, his only plan is to continue living like a college student.

“I’m definitely graduating,” he said. “A lot of people are like, ‘Oh, you should just drop out,’ but no, I don’t really want to do that.”

 

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Bitcoin: The Revolution