- Jordan Travers, 21, poured $2000 in internet currency Ethereum four years ago
- He forgot about the money he’d invested until he read about it in a news story
- By this point, the price of a single Ethereum was $US50 – and rising fast
- The Melbourne man eventually cashed out 75 per cent and made $719,000
Hannah Moore For Daily Mail Australia
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A 21-year-old fitness instructor has had a stroke of incredible luck, with a forgotten investment of $2000 now worth more than a million dollars.
Despite his luck, the Melbourne man is unwilling to re-invest his newfound fortune in anything traditional, such as a house, and says he will start a business and travel instead.
Jordan Travers, who lives in Melbourne, purchased $2000 of internet currency Ethereum four years ago.
He promptly forgot about his risky investment until the currency made headlines, he told the Herald Sun.
Jordan Travers, 21, purchased $2000 worth of Ethereum four years ago and forgot about it, but a news article alerted him to the face he had been sitting on a fortune
Ethereum was worth $US50 when Mr Travers first checked in on his money, but jumped to more than $300 over the next month
‘The article said the price was $US50… so I figured my original investment might be worth $20,000 or something,’ he said.
Upon logging on to check on his money, he discovered he had been sitting on a small fortune. As the owner of more than 5000 Ethereum, with a share price of $US50, he now had nearly $US260,000.
He sat on the money for a short while longer, and watched the price jump again and again.
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It was at this point that he cashed out 75 per cent of his investment – which earned him a cool $719,000.
‘I just sat there looking at the screen, I was literally dumbfounded,’ he said.
Perhaps as a result of his unconventional success, Mr Travers does not intend to buy a home with his riches, or anything material for that matter.
‘I’m going to travel. I’d like to do some more study. And ultimately I’d like to start my own business,’ he told the newspaper.
‘And with the rest I’ll be taking the Barefoot Investor approach and investing in good-quality, dividend-paying shares.’
Mr Travers has taken out $719,000 of his funds, but still has more than $300,000 worth of Ethereum left
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