Two best mates who began trading in cryptocurrency just a few months ago say they will be millionaires before the end of the year, having started out with only $5,000.
Daniel Colosi, 31 and Stephen Lenoci, 34, who both call the Sydney suburb of Bondi home, say they had watched the mysterious new world of online money for a while.
But a meeting with a millionaire friend who owned close to 1,000 Bitcoins led to Mr Colosi deciding the time was right to enter the fold and urging Mr Lenoci to join him.
Quickly realising how profitable the booming business was they ditched their jobs in Western Australia’s mines to focus on their new lives as the ‘Bondi bitcoin brothers’.
Now, just a few months on the pair own a combined 10 bitcoin and make $2,000 per day – telling Daily Mail Australia by the end of 2018 they’ll be bitcoin millionaires.
Daniel Colosi (right) and Stephen Lenoci (left) began trading in cryptocurrency just a few months ago and say they will be millionaires before the end of the year
Mr Colosi (left),31, and Mr Lenoci (right), 34, started out with an investment of only $5,000 but have earned more than $200,000
‘We’ve been mates for a while and we pretty much got into it at the same time,’ Mr Colosi said.
‘I’d been watching cryptocurrency for a year-and-a-half. I was in a bad place but I had a millionaire friend who owned a 1000 bitcoins at the time.
‘I started out when it was about AUD$5,100 a few months ago and then it boomed up to where it is now.’
After peaking at close to AUD$22,000 one bitcoin is currently worth AUD$17,000.
The two friends and other cryptocurrency experts predict it could hit AUD$100,000.
But while many would-be investors weigh up whether they’ve missed the boat to join the bitcoin game, Mr Colosi and Mr Lenoci say there’s many different ways to profit.
Putting their money into USI – an international firm that invests on their behalf – they now have a team of up to 600 people who are collectively making thousands daily.
‘USI is basically a mining and trading company that uses artificial intelligence which picks up different prices on exchanges and trades to make profits,’ Mr Colosi said.
‘I started out when it was about AUD$5,100 a few months ago and then it boomed up to where it is now, about AUD$17,000,’ Mr Colosi (pictured) said
While many are wondering if they’ve missed the boat, Mr Colosi (pictured) said it was not too late with many cryptocurrency experts predict one coin could soon be worth AUD$100,000
The pair’s bitcoin business has been so successful they have packed in their jobs working as miners in WA and are soon planning to relocate overseas
‘So when one coin is in a dip because of the massive amount of investors they might buy $40 million of it and then make a 30 per cent profit which they then distribute.
‘They pay out an average of one per cent of your capital everyday, so I started out at about $200 a day.
‘But after referring some mates and making commissions now it’s close to $2,000 a day.
‘With USI if you put in money you’re making money the next day. In just a few months I’ve made seven bitcoins and Stephen’s made about three.’
While some are calling the rise of cryptocurrency a ‘fad’, the budding bitcoin experts say it’s anything but.
They claim that experts they speak to, many of who have made millions from buying and selling the coins, predict the price of one coin could hit six-figures by late-2018.
‘I didn’t expect it to be like this’: The pair have also invested into ‘mining’ cryptocurrency and hope to both be millionaires by the end of the year
After peaking at close to AUD$22,000 one bitcoin (pictured) is currently worth AUD$17,000
‘We put in a lot of work in the first few months, but I didn’t expect it to be like this,’ Mr Colosi said.
‘Back in the day we worked in the mines and construction, and we are still doing a bit of that around Sydney but not for long.
‘We’re planning on relocating to Thailand at the end of Feruary and focus on building the business while we’re living there.
‘Our goal for the year is to be millionaires, to make seven figures – we’ve turned it into $200,000 in four months and we’re looking to just continue building on that.
‘It’s not too late to get into now, but it soon might be.’