Dogecoin, Lost and Found
Richard Lenz, a 31-year-old undertaking supervisor for a hazardous waste elimination 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 Wise utilizing cryptocurrency. (Mr. Wise ended up racing in a Doge-wrapped car.)
“Within a year I was done,” he mentioned. “This was like, literally, just a joke.”
Then, a pair months in the past, Mr. Lenz began seeing headlines about Dogecoin’s value surging. He additionally began getting nervous: He knew he’d saved his cash on his outdated pc’s arduous drive, however he wasn’t positive the place that drive was.
“I started looking for it a month, two months ago, and couldn’t find it,” he mentioned. Somewhere, he had $10,000 price of Dogecoin, then $40,000. “My father was kind of upset,” he mentioned, a sense that intensified as the worth climbed.
Mr. Lenz resigned himself to the truth that his cash have been gone. “If God wanted me to have the money, I would have had the money,” he mentioned. Then, on May 7, the day earlier than Elon Musk was slated to host “Saturday Night Live,” he discovered the drive and bought 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 remaining? “I am not kidding you when I say I YOLOed it,” he mentioned, on shares of the hedge fund supervisor Bill Ackman’s SPAC, Pershing Square Tontine Holdings.