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Thanks to Bitcoin I'm a millionaire

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I invested a few thousand in 2015 and now have a net worth of $1.5m after I pay my taxes on sales. I'm 32.

I diversified out mostly in the 40s this year (still holding 2.5) which feels really dumb imho and I'm kicking myself for it. I was having a hard time sleeping with all my money in one thing and I have a career now where I can earn $200k/year that I want to do well at.

When I first bought in, I was basically living in a converted basement apartment to save and invest more money. I learned about early retirement from Mr. Money Mustache's blog and realized that doing this out of a normal apartment would be a pipe dream. I told a few people what I was doing then stopped because I started getting tagged as a crazy person like I was buying videogame coins or participating in drug dealing. Not that that stopped me, I just stopped telling people.

Do I think bitcoin will keep going up? Yes, but slower than most others think. A lot are calling for $100k in 2021, but they might have to wait for 2022. What we have here might be a breakout, but it might also turn into a bull trap and a bear market (that we'll inevitably recover from). The long term trend is obviously going to be positive in reference to USD because there are only 21m bitcoins while the fed can print infinitely. That math is easy.

I encourage the people who read this and are interested in cryptocurrencies to look into defi or decentralized finance. You can easily double your money in bitcoin. You can easily 100x your money by working on a small defi project that hits it big. If the majority of bank functions have been taken over by computer programs and the skyscrapers that investment banks like Goldman occupied have been mostly emptied, I would not be surprised and that would, in my view, be a net positive. Bitcoin will play an important role in this ecosystem as gold 2.0, but the scope of what you can do will likely be much broader than that.

submitted by /u/D2YDT2
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