Bitcoin
Norwegian Student's 2009 Bitcoin Purchase for Master's Thesis Grew into Multi-Million Value
A forgotten $27 Bitcoin investment made in 2009 yielded an Oslo apartment four years later and would represent over $330 million today if the remaining balance was retained.
In 2009, Norwegian graduate student Kristoffer Koch purchased 5,000 Bitcoin for 150 Norwegian kroner, equivalent to approximately $27, while researching encryption methods for his master's thesis, according to PBS NewsHour reporting. Koch subsequently forgot about the holding until widespread news coverage prompted him to check his wallet in October 2013.
Upon accessing the wallet four years later, Koch discovered that the position had increased in value to $886,000, representing a gain exceeding 3,000,000%. He liquidated 20% of the holding, or 1,000 BTC, to purchase an apartment in Oslo, leaving the remaining 4,000 BTC in reserve at the time.
Based on a Bitcoin price of $84,196.11 recorded on October 2, 2026, the remaining 4,000 BTC would carry a theoretical value of approximately $336.8 million. The piece emphasizes that this figure is purely a calculation based on documented past holdings, noting that no available records confirm whether Koch has retained or sold the remaining coins over the intervening decade.
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