Rolexes, homes, and financial security: What bitcoin's latest rally has bought for some patient retail bulls

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Photo collage of a hand holding a shiny bitcoin, surrounded by falling money, upward trending arrow, and grid
Getty Images; Alyssa Powell/BI
  • Bitcoin's 116% climb in 2024 made fortunes for many individual investors.

  • Retail investors say they've used the money for cars, homes, and financial freedom.

  • Even as the crypto sees big ups and downs, many say they'll hold onto some bitcoin forever.

Bitcoin's stunning 2024 rally minted fortunes for many everyday traders, some of whom, after years of facing off with skeptics, say they've used the cryptocurrency to buy Rolexes, pay for homes, engagement rings, and peace of mind.

Business Insider spoke with investors who got in on bitcoin before the hype — and won big amid the crypto's dizzying 116% rally last year.

Many of them, whose gains were verified through brokerage and account statements reviewed by BI, extolled the investment as life-changing—and emphasized that they plan to keep holding at least some of the crypto forever.

Shaun, a retail trader who first bought bitcoin in 2013, estimates he's made over $300,000 from the crypto on a total investment of $25,000 over a decade.

He first got into bitcoin when he funded a wallet to play online poker. When he stopped playing, he had around $100 worth of bitcoin, which he forgot about until he stumbled across a news article about the token in 2016.

He continued to buy more bitcoin, funneling several hundred dollars every time its price dipped. By 2017, the year bitcoin rocketed 1,338%, he realized he had struck gold.

"I was like seeing myself retiring as this multimillionaire. Like, oh my god, I don't even care about my job right now," he said. "It was somewhere in the mid-twenties, and I was like, oh my God, this is amazing."

In 2020, he cashed out around $25,000 to purchase a Rolex, his first big-ticket purchase. Several years later, he cashed out another $30,000 to purchase an engagement ring for his wife and more to help fund his wedding, which he said cost around $80,000.

For Shaun, the gains were staggering. Growing up, his family was lower-income, and he knew nothing about investing.

"My mom always jokes that one of the reasons I like luxury things now … it's because we grew up so poor. I now value the finer things in life, things I never would've."

In November, as bitcoin was sprinting toward $100,000, Shaun sold another $200,000 for a down payment on a million-dollar investment property with his wife. He still holds around $100,000 worth of bitcoin.

"If it goes to zero, at least I was able to use it to buy something that will literally provide income forever," he said.

Some investors told BI that bitcoin has helped them feel more financially secure, particularly for retirement or for taking care of their families.