https://www.cnbc.com/2021/12/21/why-this-mom-quit-her-job-to-go-full-time-into-crypto.html "Before going “all in” and leaving her steady 9-to-5, Gentry began investing in cryptocurrencies during the Covid-19 lockdown in 2020. She started small, but gradually began investing more. By early 2021, she had garnered substantial returns. “My investment portfolio surpassed my 401(k) — which had taken 11 years to get to $200,000 — in six months,” Gentry says." "The firm advises decentralized finance (DeFi) and nonfungible token (NFT) projects, and Gentry typically makes between 10 and 20 ether, which is around $40,000 to $80,000, from the business each month." Alrighty then.... Oh, wait!: " “Most people who couldn’t access loans with traditional finance because of credit limitations can now invest in crypto and be able to borrow from it.”"
I saw that on my Google news feed yesterday. It's a great crypto success story. Thanks for sharing It's a really awesome use-case for cryptos. You don't want to sell your cryptos as you believe in it long-term, so you deposit it at BlockFi or AAVE and borrow USD or something you can convert to fiat for daily expenses Take for example this dude, Michael Saylor, he purchased 17,000 BTC's and never sold any He's waiting for the price of BTC to go up to $6M/btc so he can become rich. He plans to just keep borrowing against his bitcoins so he can buy groceries and stuff https://bitcoinmagazine.com/business/michael-saylor-owns-866m-of-bitcoin
The gloss will come off crypto, the gloss comes off everything. One thing guaranteed as in all things trading, the majority will lose. However, investing is different, investors may win, but it pays to diversify.
Reminds me of people who are scrooges all their life, when they get old and rich they can't still bring themselves around to spend their windfall and die still 'broke', living in old house, wearing old shoes.
Are you referring to Michael Saylor? Do some digging, he's no scrooge penny pinching guy. He's got a yacht and mansions among other things
These rich guys are going to try and make Bitcoin the main currency in Africa since it'll never take up elsewhere. Watch out, it's a trap!
Bitcoin investment On MicroStrategy's quarterly earnings conference call in July 2020, Saylor announced his intention for MicroStrategy to explore purchasing Bitcoin, gold, or other alternative assets instead of holding cash. The following month, MicroStrategy used $250 million from its cash stockpile to purchase 21,454 Bitcoin. MicroStrategy later added $175 million of Bitcoin to its holdings in September 2020 and another $50 million in early December 2020. On December 11, 2020, MicroStrategy announced that it had sold $650 million in convertible senior notes, taking on debt to increase its Bitcoin holdings to over $1 billion worth. On December 21, 2020 MicroStrategy announced their total holdings include 70,470 bitcoins purchased for $1.125 billion at an average price of $15,964 per bitcoin. As of February 24, 2021 holdings include 90,531 bitcoins acquired for $2.171 billion at an average price of $23,985 per bitcoin. Saylor, who controls 70% of MicroStrategy's shares, dismissed concerns by observers that the move is turning MicroStrategy into a Bitcoin investment firm or exchange-traded fund (ETF). In October 2020, Saylor disclosed he personally held 17,732 bitcoin at an average purchase price of $9,882. As of October 2021, he had not sold any bitcoin. https://en.m.wikipedia.org/wiki/Michael_J._Saylor
There's an open invitation from Michael Saylor when btc hits $100K to a yacht party up to 4000 bitcoiners. There's also a plan for another party when btc hits $500K and of course $1M I really want to go, lol. I was listening to the podcast when he gave details of having it docked in Miami, I think a week-long party I see that he has 2 yachts so maybe it's going to be both of them that will be docked. He only has 1 rule, don't take his stuff