Australian Daniel Maegaard continued his cryptocurrency journey, which he started with $ 4,000, earning millions of dollars. Daniel; He has invested in many digital assets, from bitcoin to altcoins and NFTs.
Sharing his million-dollar story with The Hustle, 30-year-old Daniel started investing in crypto money in 2013. During his eight years of investing life, Daniel has made fortunes twice.
It all started with Bitcoin
Daniel came across an article about Bitcoin when he was a psychology student in 2013. At the time of this incident in February, the price of Bitcoin rose from $ 15 to $ 30, and its market value was around $ 1 billion. But Daniel believed in Bitcoin. Many factors such as limited supply and technology enabled him to invest in Bitcoin.
While Bitcoin was priced at around $ 150, Daniel bought BTC for $ 4,000. BTC, whose price was up to $ 950 at the end of the year, had already paid for Daniel.
He decided to grow the business
Daniel decided to invest in altcoins between 2014 and 2015. He preferred cryptocurrencies such as XRP with low market value and high volatility. The millionaire, who preferred to turn to XRP more, increased his total fortune to $ 1 million with the increase in XRP in 2017.
Having bought a home with $ 600,000 of his earnings, Daniel wanted to reinvest with the remaining $ 400,000.
2017 bull rally worked
Bitcoin and altcoin prices rose in 2017. Taking advantage of the leap seen in Bitcoin, Daniel made $ 400,000 to $ 10 million.
“I knew Bitcoin was going to peak now and I realized I had to go out.”
The young millionaire says that many people, up to his grandmother, called him and asked about Bitcoin.
He started looking for something new
Daniel said that after he made his fortune, he traveled the world and had fun, invested again but could not get the old taste. The millionaire, who started looking for something new, found himself in the NFT world. Daniel, who started hearing about NFT’s name in 2017, at the time believed that the technology was a deceptive thing like a fraud. But things changed when I started researching.
Stepped into the NFT world
Daniel first became a part of this world with Axie Infinity. Over time he started to spend more money and started buying NFTs on the platform, which are rare and sold for 80 ETH. He then discovered CryptoPunks and stated that he had paid $ 1.5 million for at least 22 works found there. “Everyone thought I was crazy,” Daniel said. said.
With the start of the NFT craze in 2021, Daniel sold some of the NFTs he bought for as high as $ 800,000 or $ 1 million. Then he invested again and bought one of Hashmask, the most expensive live digital art collection ever sold, for 650,000 dollars. Daniel also bought different artifacts worth thousands of dollars.
He reported that he has NFT worth about $ 12 million.
What is he doing now?
Daniel says he sold some of his properties and invested them in cryptocurrencies. “I want to maximize my earnings.” The millionaire states that 95% of his net worth is in crypto and NFTs.