{"id":562061,"date":"2023-11-23T08:10:50","date_gmt":"2023-11-23T08:10:50","guid":{"rendered":"https:\/\/wncen.com\/?p=562061"},"modified":"2023-11-23T08:01:13","modified_gmt":"2023-11-23T08:01:13","slug":"dogecoin-netflix-director-bet","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-netflix-director-bet\/","title":{"rendered":"Dogecoin Dazzle: Netflix Director’s $4 Million Bet Turns Into $27 Million"},"content":{"rendered":"

In an audacious financial play, Carl Erik Rinsch, the director of Netflix’s sci-fi series “Conquest,” reportedly<\/a> magnified a $4 million investment in Dogecoin to a whopping $27 million. This unexpected windfall is part of a larger, dramatic narrative involving Rinsch’s handling of the series’ budget.<\/p>\n

Dogecoin Windfall And Extravagant Expenditure<\/h2>\n

Rinsch’s journey into the crypto realm began after he faced significant losses in the stock market. Financial records show that after receiving an additional $11 million from Netflix to support “Conquest,” Rinsch allocated $10.5 million to stock market ventures, primarily in pharmaceutical companies and the S&P 500. These risky options trades resulted in a loss of nearly $6 million in just a few weeks, leaving him with a little over $4 million.<\/p>\n

Related Reading: Dogecoin Jumps 10%, But This Signal Could Bring Rally To A Stop<\/a><\/div>\n

In a bold pivot, Rinsch transferred the remaining funds to the cryptocurrency exchange Kraken, where he invested heavily in Dogecoin, a then-emerging digital currency inspired by an internet meme. His investment coincided with an extraordinary surge in Dogecoin’s value, culminating in him cashing out around $27 million in May 2021, as evidenced by an account statement seen by the Times.<\/p>\n

Following this success, Rinsch reportedly expressed his gratitude in an online chat with a Kraken representative, saying, \u201cThank you and god bless crypto.\u201d\u00a0However, Rinsch’s windfall quickly translated into extravagant spending.<\/p>\n

He embarked on a lavish spree, purchasing five Rolls-Royces, a Ferrari, a high-priced Vacheron Constantin watch valued at $387,630, and an assortment of luxury furniture and designer clothing. The total expenditure amounted to $8.7 million, as determined by a forensic accountant hired by Ms. Ros\u00e9s, Rinsch\u2019s then-wife.<\/p>\n

Related Reading: Dogecoin Metrics Signal Impending Breakout, How High Can The Price Go?<\/a><\/div>\n

The spending raised suspicions during Rinsch’s acrimonious divorce from Ms. Ros\u00e9s. Her legal team speculated that these purchases might be an attempt to conceal his cryptocurrency profits. In response, Rinsch claimed in a deposition that these items were props for \u201cConquest,\u201d funded by Netflix’s production money.<\/p>\n

“Conquest” Is Written Off<\/h2>\n

Remarkably, Rinsch\u2019s financial upswing stands in sharp contrast to the fate of “Conquest.” Netflix, having invested over $55 million in the series, has yet to receive a single completed episode.<\/p>\n

Rinsch’s unconventional financial maneuvers and erratic behavior during the production have led to a standoff with Netflix. The streaming giant is now embroiled in a confidential arbitration process with Rinsch, who claims a breach of contract and seeks at least $14 million in damages. Netflix, contesting these claims, views Rinsch’s demands as unfounded.<\/p>\n

Thomas Cherian, a spokesman for Netflix, highlighted the company’s extensive support for Rinsch’s series, noting the eventual decision to write off the project due to the realization that Rinsch was not on track to complete it.<\/p>\n

At press time, DOGE traded at $0.0755.<\/p>\n

\"Dogecoin
DOGE price, 1-day hart | Source: DOGEUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingtView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

In an audacious financial play, Carl Erik Rinsch, the director of Netflix’s sci-fi series “Conquest,” reportedly magnified a $4 million investment in Dogecoin to a whopping $27 million. This unexpected windfall is part of a larger, dramatic narrative involving Rinsch’s handling of the series’ budget. Dogecoin Windfall And Extravagant Expenditure Rinsch’s journey into the crypto realm began after he faced significant losses in the stock market. Financial records show that after receiving an additional $11 million from Netflix to support “Conquest,” Rinsch allocated $10.5 million to stock market ventures, primarily in pharmaceutical companies and the S&P 500. These risky options trades resulted in a loss of nearly $6 million in just a few weeks, leaving him with a little over $4 million. Related Reading: Dogecoin Jumps 10%, But This Signal Could Bring Rally To A Stop In a bold pivot, Rinsch transferred the remaining funds to the cryptocurrency exchange Kraken, where he invested heavily in Dogecoin, a then-emerging digital currency inspired by an internet meme. His investment coincided with an extraordinary surge in Dogecoin’s value, culminating in him cashing out around $27 million in May 2021, as evidenced by an account statement seen by the Times. Following this success, Rinsch reportedly expressed his gratitude in an online chat with a Kraken representative, saying, \u201cThank you and god bless crypto.\u201d\u00a0However, Rinsch’s windfall quickly translated into extravagant spending. He embarked on a lavish spree, purchasing five Rolls-Royces, a Ferrari, a high-priced Vacheron Constantin watch valued at $387,630, and an assortment of luxury furniture and designer clothing. The total expenditure amounted to $8.7 million, as determined by a forensic accountant hired by Ms. Ros\u00e9s, Rinsch\u2019s then-wife. Related Reading: Dogecoin Metrics Signal Impending Breakout, How High Can The Price Go? The spending raised suspicions during Rinsch’s acrimonious divorce from Ms. Ros\u00e9s. Her legal team speculated that these purchases might be an attempt to conceal his cryptocurrency profits. In response, Rinsch claimed in a deposition that these items were props for \u201cConquest,\u201d funded by Netflix’s production money. “Conquest” Is Written Off Remarkably, Rinsch\u2019s financial upswing stands in sharp contrast to the fate of “Conquest.” Netflix, having invested over $55 million in the series, has yet to receive a single completed episode. Rinsch’s unconventional financial maneuvers and erratic behavior during the production have led to a standoff with Netflix. The streaming giant is now embroiled in a confidential arbitration process with Rinsch, who claims a breach of contract and seeks at least $14 million in damages. Netflix, contesting these claims, views Rinsch’s demands as unfounded. Thomas Cherian, a spokesman for Netflix, highlighted the company’s extensive support for Rinsch’s series, noting the eventual decision to write off the project due to the realization that Rinsch was not on track to complete it. At press time, DOGE traded at $0.0755. Featured image from iStock, chart from TradingtView.com<\/p>\n","protected":false},"author":571,"featured_media":562062,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[90333,90334,1785,85675,7,1804,3136],"class_list":["post-562061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-carl-erik-rinsch","tag-conquest","tag-doge","tag-doge-price","tag-dogecoin","tag-dogecoin-price","tag-netflix"],"acf":[],"yoast_head":"\nDogecoin Dazzle: Netflix Director's $4M Bet Turns Into $27M<\/title>\n<meta name=\"description\" content=\"Carl Erik Rinsch, the director of Netflix's sci-fi series "Conquest," magnified a $4 million investment in Dogecoin to a whopping $27 million\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Dazzle: Netflix Director’s $4 Million Bet Turns Into $27 Million","url":"http:\/\/wncen.com\/news\/dogecoin\/dogecoin-netflix-director-bet\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin\/dogecoin-netflix-director-bet\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1325173675.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1325173675.jpg?fit=1254%2C836"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["carl erik rinsch","conquest","doge","doge price","dogecoin","dogecoin price","netflix"],"dateCreated":"2023-11-23T08:10:50Z","datePublished":"2023-11-23T08:10:50Z","dateModified":"2023-11-23T08:10:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Dazzle: Netflix Director’s $4 Million Bet Turns Into $27 Million\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/dogecoin-netflix-director-bet\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/dogecoin-netflix-director-bet\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1325173675.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1325173675.jpg?fit=1254%2C836\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"carl erik rinsch\",\"conquest\",\"doge\",\"doge price\",\"dogecoin\",\"dogecoin price\",\"netflix\"],\"dateCreated\":\"2023-11-23T08:10:50Z\",\"datePublished\":\"2023-11-23T08:10:50Z\",\"dateModified\":\"2023-11-23T08:10:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1325173675.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/562061"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=562061"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/562061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/562062"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=562061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=562061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=562061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}