They did what many would have liked to do in retrospect: A family of five invested all of their assets in Bitcoin. That paid off.
In 2017 one family sold all of their fortune.
They invested all of the proceeds in Bitcoin.
It has paid off: four years later, her fortune has increased sixty-fold.
Now the family is traveling the world.
It was in 2017 when the father of the family Didi Taihuttu approached his wife Romaine with a curious idea: “Let us sell everything, everything saved, the motorcycle, the three cars, the house. And let’s invest everything in Bitcoin. ” The cryptocurrency was worth around $ 900 at the time. Romaine was initially shocked. “I was wondering, what the hell are Bitcoin?” She told CNBC. After she had informed herself, however, it became clear to her that she was on board.
So the then 39-year-old father of three daughters actually sold everything and invested the money won in Bitcoin. It turns out that it paid off. Because just a few months later, the Bitcoin rate had risen from $ 900 to $ 20,000. The family was not unsettled either when the rate fell back to around $ 3,000 in the meantime. “Then we just bought more,” says Taihuttu.
“Never rely on banks again”
Here, too, the family had the right nose. In March of this year, Bitcoin cracked the $ 60,000 mark for the first time. That means the family has more than sixty-fold their wealth by 2017. They do not reveal how much this is exactly. What is clear, however, is that they can now lead an extremely luxurious life.
“It wasn’t really about the money,” says Taihuttu. It was much more about freedom. Because now the family is traveling the world. They have visited 40 different countries. But even here, they rely entirely on the cryptocurrency. “I never wanted to bet on banks again,” explains Taihuttu. Therefore, he tries to pay with Bitcoin wherever possible. If this is not possible, he looks for someone who is willing to exchange his bitcoins for coins.
Money hidden all over the world
But where did the family save all their assets? “I have hidden hardware wallets in several countries so that I never have to fly far to get money out of my cold wallet,” Stern.de quotes the family man. By “cold wallet”, Taihuttu means a kind of digital wallet that is not connected to the Internet and is therefore not susceptible to hacking attacks.
Around 74 percent of all family assets would be in such cold wallets – two of them in Europe and Asia, one in South America and one in Australia. The rest is stored on data carriers that are connected to the Internet. That is a risk, says Taihuttu. But it is about the money with which the family pays for their everyday needs and also makes other investments. They now share their lives with the world on social media channels such as YouTube and Instagram.
The small Central American country El Salvador is the first country in the world to accept Bitcoin as the official currency – despite considerable skepticism among the population and warnings from experts. “For the first time in history, tomorrow all eyes in the world will be on El Salvador,” wrote President Nayib Bukele on Monday evening on Twitter. Shortly before midnight local time, he announced that the country would soon make history.
On Tuesday, a law came into force in El Salvador, according to which the cryptocurrency will henceforth be accepted as a means of payment in El Salvador alongside the US dollar. Bukele stated that his country had bought 400 Bitcoin in two tranches and that more values would follow. The 400 Bitcoin had a current market value of around $ 21 million. (afp)
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