Illinois Lottery Winner Invests Half of His $500,000 Payout Into Bitcoin

Michael LaVere
  • Reddit user Joxnlol posed with an Illinois state lottery ticket check worth $500,000.
  • The user claims to have put half his payout into bitcoin, with the intention to hold the investment for a year. 

An Illinois state lottery winner has announced that he invested half of his $500,000 payout into bitcoin

According to a Reddit post published Nov. 5, user Joxnlol posted an image of himself holding an Illinois state lottery check worth $500,000. The accompanying title read, “Did this. Then put half into BTC in May. Remind me in 8 months if I ****ed up.”

The check is dated to April 19, 2019, when the price of bitcoin was trading for $5,200. Since that time, bitcoin has appreciated 78% to its current price around $9,300, making for a substantial return on investment. 

Joxnlol followed up the image with a post explaining his intention to keep the investment in bitcoin for at least a year, 

I don't intend to touch any of it for at least another year. I set aside money for emergencies, I set aside money for myself, and I set aside money for tattoos. The only major purchases I've done is [...] bought a new car for myself and put a downpayment on a house.

While Joxnlol’s winning ticket was worth $500,000, his end-payout was $357,000 after taxes, meaning he likely invested around $178K into bitcoin. 

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