Norwegian turns his Bitcoins into prime real estate

FAST-GROWING cryptocurrency Bitcoin has been described as a fad used notably by those indulging in illicit endeavours. But try telling that to Norwegian Kristoffer Koch, who has just taken advantage of their rocketing price to buy a house in Oslo for less than 150 Norwegian Krone (£15.80).

Koch’s interest in encryption led him to spend the money on buying 5,000 Bitcoins for a few cents each back in 2009.

He then promptly forgot about them – until earlier this year when the price surged past $200 each, leaving him as a multimillionaire sitting on a small fortune that he has now used to buy a flat in Oslo’s upmarket Toyen district. Happy days.