Bitcoin Boom Makes Aussie a Paper Billionaire as Crypto Jumps
- Thin volumes push stock up 76 percent in Thursday trading
- Market operator adds warning symbol to stock to highlight risk
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The cryptocurrency frenzy has minted another billionaire. On paper, at least.
James Gilbert, the president and largest shareholder of Malibu, California-based Crypto Co., held a $1.1 billion stake Thursday after its stock surged 76 percent. Crypto’s market value climbed to $2.9 billion, after 7,062 shares -- or just 0.04 percent of 19.6 million outstanding -- changed hands in over-the-counter trading.