Swedish Programmer Goes All In On Bitcoin, Raises His Net Work By 13,000%

August 31, 2017 2:59 am Published by

Swedish programmer Alexander Bottema decided to go full throttle after discovering bitcoin and believing it to have similar implications as the internet invested his savings into the virtual currency, according to Business Insider Nordic.

“I’m not a billionaire yet [in terms of Swedish crowns],” Bottema said, laughing on the phone. “But my capital has grown by a factor of more than one hundred since I sold all my stocks and liquidated my savings in order to buy bitcoins in 2013.”

When he first invested, one bitcoin was worth $30, but the virtual currency is now exploded to more than $4,000.

“I consider it a retirement insurance. I’m not thinking about buying anymore, since I can never get the same return on investment again,” he said. “I could consider selling some of my assets should the price hit $100,000.”

Bottema said he didn’t want to reveal how much savings he had when he started, but his holdings have remained untouched since that day and he’s quite happy with the results.

Bottema grew up in a small community near Stockholm but started programming when he was nine and continually grew up wanting to explore computer science and enrolled at Uppsala University, where he would eventually get his PhD.

He previously worked on data security and encryption for the company Upec Industriteknik, but eventually founded his own company with two colleagues.

“Frontec wasn’t interested in product development, which we were into at the time, so we decided to start Polytrust,” he said. “We got financial support from two venture capital firms: Telia Business Innovation and IT Provider.”

Bottema eventually moved to the U.S. to work for Mathwords, where he’s currently employed.

Bottema recalled encountering bitcoin for the first time years ago, ”I rejected it as something uninteresting. Seeing that I had a long track record in data security, I was certain that it wouldn’t be possible to build safe servers that are open, and envisioned a crash. The following year, I was sitting on the subway and read in the Metro newspaper how bitcoin had recovered after a crash. I couldn’t understand how a currency that is built on trust could recover. That piqued my interest.”

“It was revolutionizing,” he said. “They had solved what I thought was unsolvable.”

Bottema also said he doesn’t get too anxious whenever the value of the currency falls.

“I know how the system works and I know what I’ve invested in. Sure, the currency dips, but it has always recovered after some time. Bitcoin’s future looks bright.”

WN.com, Maureen Foody

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