Brenda Gentry, 46, a San Antonio cryptocurrency speculator, said she began buying bitcoin in 2020 and switched her attention to lesser-known tokens, such as Bund, tied to a decentralized sports-betting network. Ms. She said Gentry’s bond trade made her a profit of about $ 400,000, and her total portfolio is now in the mid-six digits after being hit by a recent price drop.
“It’s like a kid going to a candy store,” Ms. Gentry said he noticed he could buy one token, then convert it into another and then another.
On top of her cryptocurrency investments, Ms. Gentry, a former mortgage underwriter, has been hired as a consultant advising on DeFi and NFT projects. She plans to use her cryptocurrency proceeds to buy an acre in San Antonio. He wants to build a house with a crypto mining operation in a storage unit next door.
Many people who have become rich through lesser known cryptocurrencies said they do not plan to withdraw money. They said they like HODL, or hold on to a favorite life, and keep guessing.
Consider Mr. vantKruys, Luna Investor. He said he recently used about $ 1 million from his cryptocurrency holdings to buy a home for a loved one. But despite market volatility, which dropped from $ 99 per coin to $ 50 between December and January, he has no interest in stockpiling Luna.
“I think Luna will be $ 500 in five years,” said Mr. vantKruys, who is 45 years old. “This is the horizon we are playing with.”
Recently, it has settled on another obscure token, the Pocket Network, which offers digital infrastructure for a range of blockchain initiatives. (Mr. vantKruys, managing partner of crypto fund TRGC, is a consultant on the Pocket Network project.)