Where Are the Bitcoin Billionaires?

Bitcoin continues its spectacular 3-month surge:

I don’t get it, but then, there are lots of things I don’t get. I suppose that old stamps and impressionist paintings don’t have any intrinsic value either, aside from the fact that lots of people want them, so why not bitcoin? But what I still want to know is something simple: if I own a bitcoin, can I sell it easily and pocket my $34,131? Has anyone become rich doing that? That is, selling a big stock of bitcoin for actual American dollars (not ether or tether or some other blockchain bullshit) and then retiring to the Bahamas? For some reason I never hear about that.

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BEFORE YOU CLICK AWAY!

Mother Jones was founded to do journalism differently. We stand for justice and democracy. We reject false equivalence. We go after stories others don’t. We’re a nonprofit newsroom, because the kind of truth-telling investigations we do doesn’t happen under corporate ownership.

And the essential ingredient that makes all this possible? Readers like you.

It’s reader support that enables Mother Jones to devote the time and resources to report the facts that are too difficult, expensive, or inconvenient for other news outlets to uncover. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

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