The incredible story of how 21 year-old says he’s a millionaire after investing early in bitcoin, you can do the same...

First he started investing in cryptocurrency two years ago.

According to CoinMarketCap, Bitcoin, the biggest cryptocurrency by market value, was trading at more than $2,000 at the moment. Ether, the second largest cryptocurrency by market value and powered by the Ethereum blockchain, was trading for a few hundred dollars. He purchased in Bitcoin.

He tells CNBC Make It that his early investments have made him a billionaire, with 90 percent of his wealth acquired in the previous two years. (CNBC was unable to independently corroborate documentation confirming Turley's cryptocurrency activities and current worth.)

"By no means do I feel like I've'made it' in crypto – there are much more individuals who are significantly better off than me." "However, I am quite grateful,"

Though he would not reveal how much he first invested, he does remark it was "not a lot at all." "At the time, I was still in college and working odd jobs. I was only putting down a few hundred bucks here and there."

‘I fell down this rabbit hole’

He says he first invested in Bitcoin while studying.

He discovered that the Ethereum blockchain has the ability to transform the music business and give musicians greater control over their work — for example, smart contracts on the blockchain might speed royalty payments directly to producers.

"From there, I went down this rabbit hole of being interested by how technology works and how I could establish a reputation for myself and become an authority on the business as a whole," he explains.

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He adds that after graduating in 2020, he became more serious about his cryptocurrency holdings, despite the fact that bitcoin had just plummeted in value.

"My net worth really came tumbling down in 2019," he adds. "It was approximately two to three years ago, when everyone sort of shrugged it off, that I was very substantially investing, putting practically all of my money just into ether [when it cost] around like $100."

Of course, this was an extremely hazardous decision - even today, experts advise only investing in cryptocurrency with money you can afford to lose. Cryptocurrencies are speculative, volatile investments.

But he stuck with it.

"In 2019, I witnessed a turning point when [Bitcoin] moved away from speculation and toward really developing practical things," he says.

Paying off debt

He claims that as a result of his achievement, his parents felt obligated to purchase bitcoin as well.

"They just put in a couple thousand bucks," he adds, "but it was very amazing seeing how passionate I was about the space, and it was incredibly nice to see them have a little bit of skin in the game."

As the value of Bitcoin has risen in recent months, he claims he exchanged part of his holdings for USDC, a stable coin or cryptocurrency tethered to the US dollar, and gave six figures to his mother on Mother's Day. He claims that the cash were used to pay off the majority of his parents' mortgage on their Devon, Pennsylvania home.

He also claims to have utilised at least five figures from his cryptocurrency profits to pay off the majority of his own student loan debt.

"Financial independence isn't the final state; it's simply the start of being able to accomplish very wonderful things in the world," he adds.

Though he is optimistic about the future of cryptocurrencies, it is crucial to highlight that experts advise consumers to be cautious when investing in cryptocurrency; it is volatile, and you might lose your entire investment.

Bitcoin is presently selling at roughly $2,680 per coin, with a market capitalization of more than $310 billion.

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