Dogecoin, lost and found
Richard Lenz, a 31-year-old project manager for a hazardous waste removal company in North Ridgeville, Ohio, bought his Dogecoin in March 2014, after a subreddit for NASCAR fans came together to sponsor pilot Josh Wise using cryptocurrency. (Mr. Wise ended up running in a Doge’s Wrapped Car.)
In less than a year, I was done, he said. It was like, literally, just a joke.
Then, a few months ago, Mr. Lenz started seeing the headlines about soaring Dogecoin prices. He also started to get nervous: he knew he was storing his coins on the hard drive of his old computer, but he didn’t know where that drive was.
I started looking for it a month, two months ago, and I couldn’t find it, he says. Somewhere he had $ 10,000 of Dogecoin, then $ 40,000. My dad was a little upset, he said, a feeling that intensified as the price went up.
Mr. Lenz resigned himself to the fact that his coins were missing. If God wanted me to have the money, I would have had the money, he said. Then on May 7, the day before Elon Musk was scheduled to host Saturday Night Live, he found the player and sold his coins immediately, for around $ 70,000. (After SNL, where Mr. Musk joked about the currency, the price fell.)
Mr. Lenz has donated some of the money to his parents and plans to help pay for his sister’s wedding. As for the rest? I’m not kidding when I say I have YOLOed it, he said, on the shares of hedge fund manager Bill Ackmans SPAC, Pershing Square Tontine Holdings.
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