Altcoin News: The Investor Sold 800 BTC to Buy a House, After Which He Sold the Same House to Buy 50 BTC
August 15, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
A Twitter user with the nickname Captain Bitcoin shared his unsuccessful maneuvering experience between cryptocurrencies and real estate.
He told his story on a thread of tweets originally created by another Twitter user who allegedly sold one of his own apartments to buy crypto. He did not specify the name of the cryptocurrency, but he laid the foundation for the discussion, during which other participants in the discussion began to share their stories.
Captain Bitcoin commented in three words “sold my house”, which caused the interest of other users. Later on, he tweeted:
“In 2015 I sold 800 BTC to buy a house for my family. In 2018 I sold my house and bought back 50 BTC. People who thinks I’m crazy for selling my house please know that my only regret is to have sold my bitcoins. Investment in Real Estate is now garbage comparing to #Bitcoin.”
In mid-2015, at the lows, Bitcoin was trading around $200 per BTC. Thus, by selling 800 BTC, the investor could collect $160,000, which was probably enough to buy a house at the prices of that time. As of mid-2018, the cost of 800 BTC was about $5 million, while the aforementioned house could hypothetically rise in price to $300,000. Actual values, however, may be different, given the presence of several unknown values in the author’s description.
Author: Marko Vidrih
