Let’s skip back 10 years, it is 2012 and I’m still living at home with my parents. I’m working a minimum wage job and I can not really keep up with the lifestyle that I have come to enjoy, i.e. going out with my friends every weekend! Saving my money seemed completely out of the question to me at that time, until I watched a documentary on the power of saving up cash and also the stock market. I’d heard of the stock market briefly but I didn’t really know what it was so I decided to become educated on it. When I just how much money I could make from wise investment decisions, it seemed a no-brainer to me! I gave up living the lifestyle of a teenager and put more time into learning about the world, the change in me seemed to happen overnight and everybody noticed it!
I started putting away all the money that I was making from my job and that was quite easy to do because luckily, my parents were not charging me rent for living there and they paid all the bills too. I started investing money into the stock market, mostly safe index funds. Bit by bit, my pot was building and it was thrilling to see it grow without me doing anything it all, it was definitely a much more impressive growth than you would get in a standard bank Not long after that during a seminar I went to, I discovered Bitcoin and it was still in its infancy back then. Not that much was known about it but it was tipped to be the future so I figured, why not? At the time I invested in Bitcoin, it was $100 a share and I bought 10 shares. I am sure if you are reading this, you know the kinds of heights that Bitcoin boomed to so I just wish that I had invested more back then. I am going to answer the question can Bitcoin make you rich? Because it did make me pretty damn wealthy!
Going back to my story, I didn’t think too much of my investment in Bitcoin, I just left the money there and did check on it throughout the years from time to time but I had other investments too so I was not fully focussed on it. There were ups and downs but overall, it was growing pretty nicely and that definitely put a smile on my face. I was much better with money in all areas of my life, I scored myself a much better-paid job and eventually, I moved out of my parents too. In 2017, Bitcoin went to $14,000 and I was absolutely astounded. My initial investment now stood at $140,000 and I was very tempted to sell. But I figured if Bitcoin has grown that much in 5 years, what else would it be capable of? Some might see that as a greedy move but it turned out to be a very good decision so I got to say “I told you so” to my parents for that one.
I became very nervous when Bitcoin went down again and I was kicking myself a little when in 2019, it was barely at $3000. I was still up on my investment of course but not to the rate that I was. I stayed strong though and boy, am I glad that I did! I checked the investment platform regularly, and there were ups and downs throughout the months in years. In 2021, I had not checked my account for a little while but saw something on the news about Bitcoin. I logged on with bated breath and saw that my investment was now worth almost $450,000! I could not believe it and thought I was dreaming but nope, Bitcoin was worth over $45000 per share. During that time, I decided to sell half of my investment in Bitcoin because that was a life-changing amount of money for me and I used it to buy a modest house but one that I had always had my eye on.
Of course lately due to the state of the economy, Crypto has taken a massive blow, and Bitcoin being the leader in the market is down from its high to approximately $17,000. You might be thinking that you have missed your chance with Bitcoin but I don’t think that is the case. In fact, I think that now is the perfect time to buy! I still have 5 shares in Bitcoin and I plan on keeping that money in there for the foreseeable future. Maybe one day, it will even make me a millionaire! Can Bitcoin make you rich? In my opinion, it can, even today!! Just because you didn’t buy it when it was a couple of hundred bucks, doesn’t; mean you have missed out completely. Because right now, the crypto market is very low and it is continuing to drop. If you manage to get in at the right time, it could make you a lot of money. But when is the right time? Nobody knows how low Bitcoin will get before it starts heading north again.
My advice would be to start buying small amounts of Bitcoin and when it goes down – buy some more. Keep doing this for as long as you can afford to and 5 or 10 years from now, you will be glad that you did it. If you want to look at exactly how much your dollars are worth in Bitcoin, take a look at this converter and forecast tool. Make sure that you only invest money that you can afford to lose because anything can happen with the stock market and nothing is set in stone. However many experts agree that once the economy is in a better state, people will be much more inclined to invest again and it’s still possible to become rich from Bitcoin and other cryptocurrencies. Happy investing and thank me when you can retire early due to your investment in Bitcoin.
