Illinois Lottery Winner Spends Half Bitcoin Winnings

A resident of Illinois, who won a $ 500,000 lottery in April, invested half of his winnings in bitcoin. Now his investments in BTC have increased by 63%.

“Won. And then put half in BTC in May. Remind me after 8 months if I was wrong, ”wrote
a Reddit user under the pseudonym Joxnlol in May with a selfie with a winning check in hand.

Since then, bitcoin has grown by 63%. Note that the user does not plan to sell bitcoins for another year.

“I’m not going to touch bitcoins for at least another year. I save money for emergencies, for myself and for tattoos. The only major purchases I made were buying a new car for me and making a down payment on my home, ”said Joxnlol.

After taxes, $ 500,000 turned into $ 357,000. That is, Joxnlol invested $ 175,500 in bitcoin. Now its bitcoins should be valued at approximately $ 285,000.

Joxnlol stores bitcoins on the Roinhood stock and crypto asset trading platform, saying that for him, the risks of losing a “cold wallet” outweigh the risks of being stolen from a centralized platform.

In August, the Robinhood platform announced
on obtaining a license from the UK Financial Supervision Authority (FCA) to operate in the country