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Cryptocurrency investors are known for their optimism, even when their digital coins crash — but when their values rocket they become euphorically spendy.
Right now, decentralized currencies are enjoying a ‘Trump Bump’, since Donald Trump eviscerated Kamala Harris in the presidential election, with the best known digital currency, Bitcoin, soaring to a value of almost $100,000 per coin at one point.
That’s partly because Trump’s crypto positive – reflected, perhaps, by the fact that there are multiple Trump themed coins on the market. Dogecoin, the cryptocurrency that Trump’s top advisor Elon Musk hypes, rose nine percent over the last seven days.
The surge has worked out profitable for serious investors, who are now cashing out – and splurging to celebrate.
Charlene Woods already works for wealthy people – renting luxury homes, cars and jets to the affluent in Beverly Hills – but recently has been able to enjoy a slice of the good life herself with her Trump Bump bounty.
Woods, who is in her 30s, says she made six figures on crypto, but had dueling feelings when the profits hit.
“At first you are super excited; then you are anxious,” Woods told The Post. “You don’t know if you should sell it or buy more. It becomes a fight.”
Sell won – “I lost money in 2017 and 2020 by holding on for too long; so I learned my lesson” – and she went shopping for private jet flights.
“I took out 30K of my winnings and booked a private jet to Vegas for the Formula One and first-class to Miami for Art Basel,” Woods said, referring to the upcoming Florida art fair. The money from her crypto investments will cover “flights, Uber and accommodations.”
But that’s not all. “I just texted a friend and told her that when I hit 500K in crypto” – which Wood is getting close to – “I’m going to buy us matching Chanel purses.”
What happens when she reaches a million? “We’re going to Bali or Dubai.”
For Daniel Marovic, 40, a longtime crypto investor based in Las Vegas, blowing his crypto windfall was a no-brainer. “My crypto went up and I needed a write-off,” he told The Post. So, already owning a Lamborghini, he bought what he calls “a grocery getter:” A $135,000 BMW X5M competition car with all the trimmings. “I also paid dues in an exotic car club and bought a $2,000 snowboarding setup,” he added.
Marovic’s splurge is all the sweeter in light of the fact he lost all of his crypto cache in 2022, after the devious Sam Bankman Fried was busted for going rogue with his cryptocurrency exchange FTX. “I did not lose faith in crypto because of Sam and his buddies,” said Marovic. “I picked myself up and got back in. As a product, Bitcoin is incredible. You just have to stay away from the bad actors.”
Bankman-Fried was sentenced to 25 years in prison this past March on a host of fraud charges related to his misappropriation of billions of dollars connected with FTX. He was also to ordered to pay $11 billion in forfeiture.
Along the way, Marovic became enthusiastic about Trump acing the election: “I bet 20 grand on Trump to win and then piled more money into crypto.”
Up next, to celebrate whatever rise comes in the future? “I pull out small pieces when it shows too much short-term strength,” said Moravec. “I’m going to buy a beach house and a ski house, but I’m unsure of the order.”
It’s not only Bitcoin that brings head-scratchingly large profits to non-traditional investors. Jack Sirounian, 40, who likes to call himself ‘Mr. Crypto’, realized beaucoup bucks by investing in so-called “meme coins” such as Pnut and Pepe.
Sometimes written off as novelty items — albeit profitable ones for crypto hounds with impeccable timing — the former is named for Peanut, the headline snagging squirrel seized and euthanized by New York wildlife officials, who claimed he was an illegal pet, after his porn-star owner posted videos of him online.
Though Pnut may have since plummeted – it’s dropped more than 50 percent from a November 13 high of $2.32 – Sirounian got out when the getting was good. He made $200,000 off the coin, which he’s now spending.
“I bought a couple APs [Audemars Piguet] and a couple Rolexes and I gave some to my mom,” the LA-based investor told The Post, saying he spent $150,000 on watches and shipped the remainder of his haul to his parent.
Describing his purchasing decision as “spontaneous,” Sirounian added, “I called my buddy who sells watches and said, ‘I’m coming over. I want to buy your two best APs.’ He accepts crypto as payment; so, I didn’t even need to convert anything to [dollars], which get devalued every year.”
While he has a Patek Phillipe wristwatch in his sights for his next purchase – “That one, directly related to the Trump Bump, will be my most expensive watch yet” – Sirenian remembers being stoked about the current acquisition: “I feel awesome. The AP is shiny. When I go to the clubs, the girls be looking at me. Bling! Bling! And I feel like the bull market is just starting. It’s not the peak.”
Thanks to crypto, for Jeffrey Harvey, 40, his career is just starting. A senior at Arizona State University, he majored in social media and mass communications. Harvey steeled himself for the challenge of finding a job in a tight market. But, now, thanks to his crypto score, he plans to work on his own terms.
“I took out 30 percent of my profits and I’m buying a camper van,” Harvey, who currently makes ends meet by bartending, told The Post, referencing his so-called alt coins such as Doge and XRP, as well as a position in Bitcoin. “I want to buy the camper van and start a podcast called Only Vans. It will give me a year to do the podcast, [which will be about] visiting small towns or big towns and engaging with the people. And I can see if there is an interest in it.”
Beyond his crypto haul, Harvey said, “There is no other way I would be able to do this.”
But it’s not only daredevil investors who stand to benefit from the Trump Bump. A Bitcoin millionaire by the name of Jon Collins-Black wants to make it possible for ordinary non-tech savvy people to get involved.
Collins has announced he has stashed $2 million worth of rare goods — including shipwreck-salvaged gold doubloons and rare Pokemon cards — across the United States in five chests in a nationwide treasure hunt. Taking part in Collins-Black’s challenge is a lot easier than mining Bitcoin.
“You don’t have to be a genius to solve the clues,” he said. “There’s no grand cypher. If you have curiosity, imagination, and the willingness to try something new, you can find the treasures that I’ve hidden.”And then, in the great crypto tradition, discover something fancy to splurge on.
