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Brenda Gentry, 46, a cryptocurrency speculator from San Antonio, said she started buying Bitcoin in 2020 before changing her focus to lesser-known tokens like the Bund, which is linked to a decentralized sports betting network. She said Ms. Gentry’s Bund transactions brought her around $400,000 in profits, and her total portfolio is now in the mid-six-figure after taking a hit from the recent drop in prices.
“It’s like a kid walking into a candy store,” Ms. Gentry said, noting that she could buy one coin, then convert it to another and then another.
Gentry, a former mortgage insurer, found work as a consultant advising DeFi and NFT projects, as well as cryptocurrency investments. He plans to use the cryptocurrency revenue to buy an acre in San Antonio. He wants to build a house with crypto mining operation in a warehouse next door.
Many people who have become rich through little-known cryptocurrencies said they do not plan to withdraw the money. they said they prefer HODL, or wait for dear life and keep speculating.
Consider Luna investor Mr. vantKruys. Recently, he said he used about $1 million of his cryptocurrency holdings to buy a house for someone he loves. But despite the market volatility that caused it to drop from $99 to under $50 between December and January, Luna is not interested in selling her stash.
“My idea is that Luna will be $500 in five years,” said Mr vantKruys, 45. “This is the horizon we play on.”
Recently, it stuck with Pocket Network, another obscure token that offers digital infrastructure for a number of blockchain initiatives. (Mr vantKruys, managing partner of the crypto fund TRGCis a consultant on the Pocket Network project.)
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