Dogecoin, Misplaced and Discovered
Richard Lenz, a 31-year-old mission supervisor for a hazardous waste removing firm in North Ridgeville, Ohio, purchased his Dogecoin in March 2014, after a subreddit for NASCAR followers banded collectively to sponsor the motive force Josh Clever utilizing cryptocurrency. (Mr. Clever ended up racing in a Doge-wrapped car.)
“Inside a yr I used to be accomplished,” he mentioned. “This was like, actually, only a joke.”
Then, a pair months in the past, Mr. Lenz began seeing headlines about Dogecoin’s worth surging. He additionally began getting nervous: He knew he’d saved his cash on his outdated laptop’s onerous drive, however he wasn’t certain the place that drive was.
“I began in search of it a month, two months in the past, and couldn’t discover it,” he mentioned. Someplace, he had $10,000 value of Dogecoin, then $40,000. “My father was form of upset,” he mentioned, a sense that intensified as the worth climbed.
Mr. Lenz resigned himself to the truth that his cash had been gone. “If God wished me to have the cash, I’d have had the cash,” he mentioned. Then, on Might 7, the day earlier than Elon Musk was slated to host “Saturday Evening Reside,” he discovered the drive and offered his cash instantly, for round $70,000. (After “S.N.L.,” the place Mr. Musk joked in regards to the foreign money, the worth tumbled.)
Mr. Lenz gave a bit of the cash to his mother and father and plans to assist pay for his sister’s wedding ceremony. As for the remainder? “I’m not kidding you once I say I YOLOed it,” he mentioned, on shares of the hedge fund supervisor Invoice Ackman’s SPAC, Pershing Sq. Tontine Holdings.