In brief

  • Mike Novogratz won half a Bitcoin in an election bet.
  • Instead of keeping his money, he gave it away in a lottery for prospective Bitcoiners.
  • A Twitter user with the name Adelgary won the lottery, and now holds about $7,700 worth of Bitcoin.

Mike Novogratz, billionaire investor and CEO of Galaxy Digital, won half a Bitcoin in an election bet. After getting the call right, he then tweeted that he would give these winnings away in a lottery. 

The cryptocurrency world was rife with election bets and projections during a long and protracted period of vote counting in the United States last week. Some crypto traders who thought Trump would get reelected lost up to $11 million as Democratic nominee Joe Biden ended the Trump era. But, thanks to Novogratz, one person has made thousands of dollars on the election.

“I won an election bet with StoneyBitson. 1/2 BTC.  I am going to have a lottery for young bitcoiners for that coin. No one can enter who already owns a bitcoin,” said Novogratz in a tweet, adding that “I’m thinking of a number between 1-1000. Whoever guesses first gets it.  I’ll have Stoney send directly. One guess.”

A Twitter user going by the handle Adelgary won the bet. The user correctly guessed the number 826, reportedly choosing this number because they lived in China for eight years, and because the number 26 represents his birthdate.

Bitcoin’s positive run has made Adelgary’s winnings more valuable. While Bitcoin's price was at $7,208 on January 1, 2020, it has since risen to $15,521. That means Adelgary’s Bitcoin holdings are 115% more valuable than they would have been at the start of 2020—and that’s not to say what they might be worth at the year’s end.