“Don’t invest more than you are willing to lose” : Didi Taihuttu is the archetype of the investor in Bitcoin, who laughed madly at this board. Examples of individuals who have recourse to debt to finance their investments in the cryptodevises are legion, and CNBC just to make an article. But this father of a family Dutch 39-year-old has chosen a different option : he sold all his possessions to invest in Bitcoin.
Didi Taihuttu, the man who has staked everything on BTC
Didi and his family in the mop – source Facebook
This article from Business Insider was told at the beginning of the month of December the incredible story of Didi, who has since become a small celebrity. Willing to bet on the ascension of crazy Bitcoin, he has sold all his possessions. His spacious house in the region of Venlo in the bike of the 3 children sold on a emulates Dutch eBay, almost everything is past. He now lives with his small family in a cottage situated on a camping ground.
For the moment, he more than doubled his initial bet. But don’t expect him to sell in the near future. His strategy is simple : it is all or nothing. According to him, the price of Bitcoin is expected to reach at least $ 100,000 by 2020. He also cites analysts who offer much higher estimates, a million of dollars. It was therefore decided to wait patiently, that their investment yields the mother lode.
In the meantime, he lives with his family on the proceeds of the sale of the objects that made up the household. Tables, furniture, lamps… little by little, the contents of her home is sold on the Internet, which allows to cover the daily expenses. In the meantime of hitting the jackpot, the family Taihuttu has therefore imposed a modest living. A decision may, therefore, seem somewhat paradoxical.
“Life is too short “
It is the illness of his father, to know that cancer is fatal, which makes you think. You never know when life is going to stop, then why work 8 hours per day 5 hours per week, without hardly ever see his wife and children ? He then decided to sell his company specialized in it training for travel around the world for 9 months with his wife and 3 children.
A bit of summer holiday ? Pixabay – Wikilmages
During his journey, he met many travellers who invest in crypto-currencies. It was launched in 2010, when Bitcoin wasn’t worth even a euro. The following, you know : in the spring of 2017, BTC started its meteoric rise, bringing in its wake the other crypto-currencies. To Didi, this was no doubt : the crypto-revolution was on the march. It was then that he decided to invest his entire wealth.
Back from his world tour, he has put his house up for sale. But he first had to overcome the reluctance of his wife. It is the prospect of a family, a life focused on the simplicity which has come to convince her.
The family is crumbling under the pressure of the media
A few months later, the family is convinced of having made the right choice. But while the goal was to live in the quiet, in the warmth of a small cozy cocoon focuses on family values, the media has somewhat upset the plans of the Taihuttu. The family is so requested by the international press that Didi has even considered hiring a agent. What good is leaving the world of work if it is to receive multiple calls day-to-day seeking to tell his crazy story…
He insists however on the fact that he does not want to capitalize on his notoriety, ensuring that it does not ask compensation for the granting of an interview : “We are not a product. I just want to spread our message, ” he told the Business Insider.
Is this even reasonable ?
Everyone will make his own opinion. If it were a single, I would have shrugged shoulders, saying that he made his life. But as head of the family, I find this somewhat irresponsible. It is one thing to be passionate about crypto-currencies, and be confident that they will change the world as the Internet has transformed our everyday life, it is no less an investment classified as at-risk. The States will they continue to let do ? What is the real value of a crypto-currency ? Too many question marks remain. But the whole world doesn’t think so, as this article shows, of January 11, 2018 from CNBC, which indicates that more and more Americans use credit to finance their purchases of crypto-currencies.
Pixabay – StevePB
Bitcoin to credit
According to a recent survey by lender LendEDU, one-fifth of the 18 % of Americans who buy Bitcoin by credit card do not repay their due. They roll down their debt. The popularity of the search terms of Google proves that the phrase “to buy Bitcoin with credit” is increasingly in vogue.
Joseph Borg, president of the North American Securities Administrators Association, an association of investor protections, said he often hears the testimonies of individuals who had made financial sacrifices to invest in crypto-currencies. Sometimes these decisions are benign, such as the sale of shares or other financial assets to reinvest in the cryptos. But there are also people who buy on credit, either via their VISA card or, worse, losing their home !
According to Mr Borg, the fears of the Americans not having enough savings to live comfortably during their retirement to feed this frenzy. People are thus seeking to increase their savings, and any other vehicle that the crypto-currency promises of returns as spectacular ? This strategy could prove to be a master stroke… or a disaster.