An australian businessman has repaid the loan through its investments in the Bitcoin. It now uses its profits to fund the purchase of a new home. Michael Sloggett, based in Townsville, a coastal town in the north-eastern Queensland, Australia, has started to use bitcoin, five years ago. At the very beginning, he has used the digital currency to purchase goods abroad.
This solution allowed him to save time in the payment of these purchases. In addition, he indicated that the transaction fees between banks are very high. It is for this reason that he decided to use the Bitcoin. This is only the beginning of the year 2017 that it has begun to invest in this virtual currency.
In this video, check out the details of this novel :
A very profitable investment for the australian
This decision to invest in the Bitcoin has proved to be very profitable for the australian. At the time, the bitcoin was trading around 1 100 australian dollars before waiting the 7 700 australian dollars. Sloggett said the media Townsville Bulletin that he was able to pay off his mortgage and buy a plot of land in Townsville thanks to the Bitcoin. Today, he is in the process of building a new home.
In addition to being at the head of a company specialized in food products, he also runs the company My Bitcoin Academy. He began the company five months ago to teach users how to invest in Bitcoin. So far, it has helped nearly 2,500 people. It is also the origin of the site Crypto Calls to Australia.
The australian today has five stores
Thanks to its investment in the Bitcoin and the profits that he has learned, Sloggett currently has five stores : two in Tonwsville, a at Mount Isa, one in Bundaberg and one in Sydney. This news comes at a time when many critics claim that the Bitcoin is a bubble ready to explode.
Jamie Dimon, CEO of JPMorgan, is also one of the main detractors of this digital currency. Last month, he indicated that this crypto-currency is a fraud.
Source : CryptoCoinsNews