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Prior to the pandemic, the brothers’ primary income came from filming weddings, but the Covid-19 outbreak nearly shuttered their business. In total, the group put in nearly $8,000. “After a few weeks when it was up about 300% they put another $100 in each, and then it kept going up.” “My mother and sister were skeptical but they each put in $100, too,” Tommy said. They also presented the idea to their mom, dad, sister and a few other family members. James and Tommy rolled the dice, each initially investing $200.

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And digital currencies bring other unique kinds of risk, such as the potential for a hacked server, a deleted file or a lost password that could leave investors locked out of their funds forever. Chris Coleman-Smithīut cryptocurrencies are also extremely risky, unregulated investments. Tommy and James rolled the dice on an odd cryptocurrency. Bitcoin is up nearly 70% since January, and dogecoin, which was started as a joke and is still worth less than a dollar, is up more than 11,000%, according to Coindesk. After years of being either ignored or sneered at by Wall Street, cryptos - including established players like bitcoin and lesser-known “altcoins”- are enjoying unprecedented investor interest. Valuations on cryptocurrencies have exploded in 2021. It was their dad’s birthday, and instead of giving him a card, they made him a millionaire. Less than two months after their initial investment in late February, their lives changed. I thought of it as a lotto ticket that wouldn’t expire.” “I trusted my friend and I figured if it went to zero, that’s OK. “I kind of thought about bitcoin - that was once a fraction of a penny and now it’s tens of thousands of dollars, and this happens to people, it’s possible,” Tommy said. One coin was worth a fraction of a cent, but a friend, who happened to be a crypto expert, told them he believed it could be a big moneymaker. Tommy, 38, and James, 42, who have asked CNN not to publish their last names to protect their anonymity, had put a few hundred bucks into an odd digital asset called shiba inu coin - a spinoff of dogecoin, so basically a parody of a parody. On the morning of April 17, two brothers in Westchester, New York, woke up to learn that they had become millionaires overnight, thanks to an unlikely wager on a cryptocurrency that was originally created as a joke.

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