In this San Francisco ‘castle’, over half a dozen residents have become millionaires investing in cryptocurrencies such as bitcoin.
Dubbed the Crypto Castle, the three-story house in San Francisco’s Protrero Hill neighborhood houses a revolving cast of young entrepreneurs united by their passion for bitcoin.
As the price of bitcoin has shot up nearly 600 percent of the last 12 months, to more than $4,000, many of them have minted big bucks.
The modest exterior of the Crypto Castle belies the gaggle of young millionaires who live there
![The three-story house is in Protrero Hill south of downtown San Francisco. The view from the roof towards downtown is seen here](https://i.dailymail.co.uk/i/pix/2017/08/21/04/436C02E700000578-0-image-a-152_1503285532350.jpg)
The three-story house is in Protrero Hill south of downtown San Francisco. The view from the roof towards downtown is seen here
![Jeremy Gardner, 25, first rented the Crypto Castle in 2015 for his startup Augur](https://i.dailymail.co.uk/i/pix/2017/08/21/04/436C041000000578-0-image-a-155_1503285663821.jpg)
Jeremy Gardner, 25, first rented the Crypto Castle in 2015 for his startup Augur
Cryptocurrencies, of which bitcoin is one type, have shot to prominence in recent years as a radical new way to verify actions and transactions.
They rely on a public ledger, called a blockchain, that is virtually impossible to hack or forge and has implications far beyond making online payments.
Jeremy Gardner, 25, first rented the Crypto Castle in 2015 as a base for his startup Augur, which uses blockchain to run a predictions market.
The house became a landing pad for other young bitcoin entrepreneurs, who mostly sleep in bunk beds.
One, the founder of a self-driving car company that now has over $3million in funding started out living in a basement closet in the house.
![Some of the Crypto Castle's young residents are seen. The house has become a landing pad for young bitcoin entreprenuers, who mostly sleep in bunk beds](https://i.dailymail.co.uk/i/pix/2017/08/21/04/436C02E300000578-0-image-a-156_1503285740085.jpg)
Some of the Crypto Castle’s young residents are seen. The house has become a landing pad for young bitcoin entreprenuers, who mostly sleep in bunk beds
![The house's refrigerator is covered with stickers for bitcoin and blockchain startups](https://i.dailymail.co.uk/i/pix/2017/08/21/04/436C02EB00000578-0-image-a-157_1503285823641.jpg)
The house’s refrigerator is covered with stickers for bitcoin and blockchain startups
‘Over a half-dozen people in the time they’ve lived in my house have become millionaires as a result of crypto,’ Gardner told Business Insider.
Meanwhile, the fate of crytocurrencies is far from certain.
Some believe that bitcoin is in a bubble, similar to the dotcom boom of the late 90s.
For the freshly minted millionaires of the Crypto Castle, the choice now is whether to cash out while they’re ahead – or double down.
![The night skyline of San Francisco is seen from the Crypto Castle startup house](https://i.dailymail.co.uk/i/pix/2017/08/21/04/436C02DB00000578-0-image-m-160_1503285915287.jpg)
The night skyline of San Francisco is seen from the Crypto Castle startup house