In September 2015, with three Bitcoins you could buy an iPhone 6 Pro.? Now, in 2021, with three Bitcoins you can buy a supercar. ? That’s how volatile Bitcoin is. ?
The last couple of years have been a particularly wild ride for investors around the world. Many have made millions on the big upswings, yet many have lost large and small investments in the bursting bubbles and sudden market downturns.
The great thing about Bitcoin is that you can possibly make a profit even if the price of Bitcoin falls. You can do this by shorting Bitcoin using platforms like eToro or Plus500*. Short selling is the act of selling the asset with no requirement of ever having it. This gives you the opportunity to open a sell position on a price decrease and, if it turns out right, can make a profit from it.
*77% of retail CFD accounts lose money.
Bitcoin has been the best performing asset by far in 2020 and over the last decade driven by both retail investors and institutional funds.
For a long time, big banks and institutional players mocked the idea of buying Bitcoin, which was reasonable, considering the fact that no one really knew what Bitcoin was. We can also say that it is the people that give a commodity its value and therefore, if a lot of people believe in it, then its value will go up.
Years of mocking turned into frenzied buying from institutional funds and big investment banks to join the bullish rise and add to their portfolios. They are even providing analyses and research on Bitcoin for their clients.
7 people who became rich from Bitcoin
You don’t need to be a Warren Buffet to start investing in Bitcoin: that’s why we have made a list with stories of regular people who got rich from Bitcoin.
Pay attention to #7 video in the end – its about the Bitcoin millionaire, who lives in a tiny tree house. ?
#1 The Taihuttu Family ??️
Didi Taihuttu is a husband and father but most importantly, a firm Bitcoin believer. Having invested all of the family’s assets in Bitcoin as a long-term investment, Didi started traveling across the world to enjoy life while his portfolio went up. When asked about the reason for buying this much Bitcoin, he simply said that he wanted to change his and his family’s life. Didi believes that there will be a supply crisis and that Bitcoin’s price can go up to as much as 6 figures. As risky as this adventure is, we have to admire the courage of this family.
Another reason for Didi’s confidence is the exponential rise in institutional investors which signals more confidence in this market by pushing up demand from retail traders and driving up volatility. In 2017, Didi invested as much as $200,000 in Bitcoin when it was trading on the lower end and is still holding it, or as is more common in the cryptocurrency world, hodling it.
Fun fact: Hodling (inverted letters on purpose) signifies holding a cryptocurrency for a long time and it started as an actual typo before being adopted as one of the terminologies in this market.
#2 Erik Finman, the Early Bird ? ?
What happens when you are 12 years old and decide to buy Bitcoin in its early years? Well, you become a millionaire. Erik Finman was a child when he invested $1,000 which transformed into $4.5 Million. This 20-year-old teen is now a millionaire because of a decision he took when he was a kid. And not only that, he has actually become a Silicon Valley figure and is planning to compete with Facebook’s cryptocurrency Libra. The good thing about Erik is that his Instagram page is full of motivational pictures that can encourage your average Joe to believe in himself. As Erik stated, he had a 2.1 GPA in school but because of great ideas, he made it in life.
#3 Peter Saddington, a Brilliant Coder ?? ?
A computer science graduate, Peter Saddington stumbled across some publications discussing the value of Bitcoin which interested him and made him dig deeper in the field. Eventually, he bought more than 1,000 Bitcoin as a long-term Hodl. Years later, he bought a Lamborghini in a show of success and prosperity.
#4 Kristoffer Koch, an Unexpected Pleasant Surprise ??
In Norway, a man was reading about the astronomical rise of Bitcoin when it struck him that he actually owned a lot of them which are now valued at $850,000. Mr. Koch bought a flat with only a fifth of what he made after tax stating that not even in his wildest dreams did he imagine something like this would happen. It is funny how one’s life can change fast given a certain decision made in the past. Mr. Koch must have felt like he had won the lottery.
#5 John Ratcliff ? ?
Ratcliff, a man who bought 150 Bitcoins back in 2013 has seen his wealth skyrocket. Using the profits, he is now building his $1.4 million house on the mountains while awaiting his brand new Tesla Roadster valued at $250,000. It only cost him 6 Bitcoins to buy the car. He then proceeded by paying off his kid’s tuition fees and even set aside some money for charity. Ratcliff is an example of both a successful and philanthropic crypto investor.
#6 Nikki Beeseti ??️
Another success story is the one of Nikki Beeseti, based in London. She invested $2,000 in 2017 and since then, she has paid off her college tuition and bought a supercar. The great thing about Nikki is that she kept her day job while being a crypto trader in her spare time, thus proving that diversifying revenues is also a factor in success.
#7 Bitcoin Millionaire, who lives in a tree house ??
Should I Invest in Bitcoin?
But does this mean that we will become rich just like they did? Unfortunately, it is not that simple. As I have previously mentioned, Bitcoin is a very risky asset that has the same upside potential as it has downside. In order to invest correctly in this market, make sure you respect the two golden rules:
✅Only use extra money or money you can afford to lose when you want to invest. What if you lose your safety net because a new regulation comes out that causes the price to plummet by 50%?
✅Ensure that you have the risk appetite and tolerance for this kind of risky investment. In case you feel that you do not have the necessary tolerance, it may be better seeking safer investment vehicles such as stocks or ETFs.
If you want to practice Bitcoin trading without risking with real money then have a look at The Trading Game – Bitcoin & Forex & Shares Investing Simulator it’s the #1 learning game for beginners, and it is 100% Free. ?
Lets get rich together! ?? ??