Meet 5 people who made millions off Bitcoins

One 30-year-old purchased his first batch of 5,000 coins for just 20 cents each. They've increased in value by more than 35,000 percent since

Jared Kenna is one of Bitcoin's foremost authorities.
(Image credit: Illustration by Lauren Hansen | Photo courtesy Twitter/JaredKenna)

Bitcoin, the decentralized electronic currency that may or may not be a libertarian fantasy, has had a rollercoaster of a week. Its value peaked at a staggering $266 on Thursday before plummeting to $71 Friday, according to Mt. Gox, one of cyberspace's leading Bitcoin exchanges. (Watch a three-minute Bitcoin explainer here.)

At the beginning of this year, a single Bitcoin was worth just $13. And when the virtual currency launched in 2009, each coin traded for mere pennies. That means a lot of early buyers have gotten very, very rich.

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Chris Gayomali is the science and technology editor for TheWeek.com. Previously, he was a tech reporter at TIME. His work has also appeared in Men's Journal, Esquire, and The Atlantic, among other places. Follow him on Twitter and Facebook.