Loi Nguyen started his journey as an capitalist back in 2017 by buying a couple of hundred dollars value of BTC, ETH and ancient stocks. In Nov 2021, his crypto investments outweighed his entire stock portfolio.
A young resident from Queensland, Australia, played the long game of accumulating Bitcoin (BTC) and Ether (ETH) over many years to eventually overcome the soaring property costs throughout the 2020 Battle of Bull Run and own his dream home.
The 23-year-old Loi Nguyen started his journey as an capitalist back in 2017 by getting many hundred bucks value of BTC, ETH and traditional stocks. However, his interest in crypto reached new heights while following an economics degree:
“Crypto came back into my life when I did a course at the uni on inflation. I learned that Bitcoin can be disinflationary.”
Speaking to news.com.au, Nguyen disclosed that the lower interest rates (less than 0.5%) offered by ancient banks might never facilitate him entered the $64000 estate market. By following a dollar-cost averaging (DCA) investment strategy, the young capitalist continuing to diversify his portfolio into cryptocurrencies amid the temporary securities industry of 2018:
“I recognize I took on a lot of risks. I wanted to protect my purchasing power, protect my current savings, make sure my money didn’t dwindle away.”
As traditional markets folded throughout the beginning of the COVID-19 pandemic, Nguyen’s crypto investments outgrew the worth of his stock portfolio. This was once his investment focus affected off from traditional markets additional into cryptocurrencies — eventually accumulating one BTC over many months.
With the intent to get assets, Nguyen paid out his crypto investments throughout November-December 2021, a timeline once BTC reached an uncomparable high of $69,000. In total, the young aussie sold but half of his crypto portfolio, deed him around $31,400 (43,000 Australian dollars) to indicate the bank as aussie of the downpayment.
Nguyen purchased a one-bedroom apartment in brisbane, that was priced at $314,000 ($430,000 Australian dollars) and needed approximately $62,735 ($86,000 Australian dollars) as a downpayment. “About 1/2 that was created of crypto,” Nguyen added.
After finishing highschool, Nguyen worked full-time for a year as a bank teller however paid a coffee wage of roughly $20,400. “I’m doing loads higher currently,” he ended.
( Arijit Sarkar, Cointelegraph, 2022 )