Dogecoin, Misplaced and Discovered
Richard Lenz, a 31-year-old challenge supervisor for a hazardous waste elimination firm in North Ridgeville, Ohio, purchased his Dogecoin in March 2014, after a subreddit for NASCAR followers banded collectively to sponsor the motive force Josh Smart utilizing cryptocurrency. (Mr. Smart ended up racing in a.)
“Inside a yr I used to be achieved,” he mentioned. “This was like, actually, only a joke.”
Then, a pair months in the past, Mr. Lenz began seeing headlines about Dogecoin’s worth surging. He additionally began getting nervous: He knew he’d saved his cash on his previous pc’s laborious drive, however he wasn’t positive the place that drive was.
“I began on the lookout for it a month, two months in the past, and couldn’t discover it,” he mentioned. Someplace, he had $10,000 price of Dogecoin, then $40,000. “My father was form of upset,” he mentioned, a sense that intensified as the value climbed.
Mr. Lenz resigned himself to the truth that his cash had been gone. “If God wished me to have the cash, I might have had the cash,” he mentioned. Then, on Might 7, the day earlier than Elon Musk was slated to host “Saturday Night time Stay,” he discovered the drive and offered his cash instantly, for round $70,000. (After “S.N.L.,” the place Mr. Musk joked concerning the foreign money, the value tumbled.)
Mr. Lenz gave a bit of the cash to his dad and mom and plans to assist pay for his sister’s wedding ceremony. As for the remainder? “I’m not kidding you once I say I YOLOed it,” he mentioned, on shares of the hedge fund supervisor Invoice Ackman’s SPAC, Pershing Sq. Tontine Holdings.