He lost $816,000 on bitcoin. Now he’s celebrating

(Image: Depositphotos)

Sun, 10 Mar 2024

By Joe Pinsker and Caitlin OstroffJoe Oathout lost US$500,000 (NZ$816,000) on bitcoin, but he didn’t lose faith.Few would have the stomach to hold on after watching a US$20,000 investment soar halfway to US$1 million in 2021 only to have nearly all of it evaporate. After the price of bitcoin rose above US$69,000 to a record high on Tuesday, the 45-year-old in Palmer, Alaska, said he feels vindicated. His crypto holdings are back up to US$150,000, though still short of the peak he discussed with the Wall Street Journal last year....

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