According to a Bitcoin millionaire who retired at the age of 35, wealth is ‘boring.’
The man who became a millionaire after putting his life savings in the cryptocurrency Bitcoin has stated that money is dull and that he does not deserve to retire early.
A man who invested his whole life savings in Bitcoin and became a millionaire before quitting his work believes that wealth is tedious.
After a “lucky gamble” on cryptocurrency netted him large sums of money, the investor claims he used a “cheat code” and does not deserve the fortune.
Working as a content developer for nearly a decade, the man watched his salary climb from roughly £25,000 to ten times that amount, a position that afforded sumptuous hotels, luxurious dinners, and the opportunity to travel the world.
He claims he “never developed a taste for luxury items,” instead of saving a percentage of his annual salary.
He discovered Bitcoin in 2014 and claims to have “fallen down a deep rabbit hole” by investing practically all of his savings in it — an incredibly perilous and risky choice.
Cryptocurrencies are extremely volatile, and their value can suddenly rise or decrease, with investors risking as much as they are prepared to bet.
“I know many here think Bitcoin is a huge speculative gamble, and after riding through a major up and down, you are preaching to the choir,” the investor wrote on Reddit.
“Regardless, I’m enamored with the concept and have been reading and watching everything I can get my hands on.”
“I put almost everything I had saved into it over the course of a year and a half, figuring that my earnings would put me back on track even if it tanked.”
He was able to cash out more than £2 million after taxes by 2017.
“Around this time, I was trying to figure out how to ‘live off the interest,’ get off that crazy rollercoaster, and invest responsibly,” he continued.
“I crammed it all into a three-fund index-based US EquityForeign EquityBonds portfolio.”
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For almost two years, he continued to work. He went on to say that everything “mentally changed” for him because “the excitement of doing work was stripped away” because he could afford the luxuries without a job.
He decided to take a complete break after earning more than £26 million in 2019.
The news is summarized on Brinkwire.