One of Australia’s leading Bitcoin millionaires claims there is only weeks left to invest in cryptocurrency before the price skyrockets to as high as AUD$100,000.
Sam Karagiozis left school at the age of 15 to work full-time at McDonald’s. But after starting property, food, and now a Bitcoin business, he is worth a total of $ 15 million.
The entrepreneur and self-proclaimed ‘hustler’ has made headlines in recent months for creating his ‘Auscoin’ cryptocurrency and ATMs where it can be bought like cash.
Mr Karagiozis, 26, has formed a partnership with tennis star Nick Kyrgios, selling him and his brother ‘quite a bit’ of Bitcoin and sitting in his box at the Australian Open.
Speaking with Daily Mail Australia the Melbourne-based millionaire revealed close to all of his fortune is invested in cryptocurrency and said his only advice for those who are considering buying the internet currency is this: Do it now.
After peaking at close to AUD$25,000 late last year the price of Bitcoin has dropped to as low as AUD$13,000 in recent weeks, but Mr Karagiozis claims he isn’t worried.
‘The first quarter of this year is probably the last opportunity people are ever going to get to buy Bitcoin for under AUD$20,000 a coin,’ he told Daily Mail Australia.
‘This is the time people want to get in. It might go a little bit lower but it just comes down to the news and people panicking.
‘People who invested two weeks ago might be a little stressed, but they shouldn’t be because it’s nothing new for Bitcoin to crash a bit.
‘I’m predicting that Bitcoin is going to reach AUD$100,000 by the end of 2018 and in three to five years it will hit AUD$500,000… there’s not a doubt in my mind.’
So entrenched is Mr Karagiozis in the ‘crypto’ game that late last year he launched a series of ATMs that allow Bitcoin owners to turn their internet currency into cash.
‘I got into Bitcoin by mistake, stumbling across it when it was at about $2 and I thought it looked like a cool investment, so I put a bit of cash into it,’ he said.
‘Pretty quick it got it up to $4 and I thought I’d conquered the world, so I sold it all.
‘Then I began to broker Bitcoin, try to make five to six percent on every transaction and now I’m one of the largest private Bitcoin brokers in the country. ‘My business is simple: You send me $10,000 and I send you that much in Bitcoin.
‘Now we’ve got the ATMs where you can do the same. I’ve had people walk in and get $18,000 out on a Sunday afternoon and go buy a jetski – you can’t do that at a bank.’
While he is proud of his financial gains, Mr Karagiozis said one of the best parts of his success has been building a relationship with Nick Kyrgios and his brother Christos.
The millionaire was pictured sitting in the tennis star’s box throughout the Australian Open, posing for photos with the pair and their mother Norlaila.
While refusing to spill the beans on just how much Australia’s top-ranked tennis star has put into cryptocurrency, Mr Karagiozis admitted the whole family was invested.
Nick Kyrgios poses next to Mr Karagiozis’ car after their meeting in Melbourne last week
Mr Karagiozis has launched ATMs across the country allowing Bitcoin owners to turn internet currency into cash
‘Nick’s a big fan of the project and I’m a big fan of Nick, but we’re still negotiating our game plan in terms of working together,’ he said.
‘Him and his brother Christos have made some comments online about Auscoin and I got to meet up with them when they were in Melbourne last week which was great.
‘The family has all bought bitcoin off me, I’m not sure who had what amount, but his brother first bought it off me he just sent me a message and we linked up.
‘Nick and him are interested in the entire project and talking about it a lot and a fair bit is going on between us.
‘It’s just great to link up with someone my age who is also very successful, I mean he is only 22 and I’m 26, so we’re both doing pretty well I think.’