Hey guys, just thought I’d share this story with you. Yesterday I went by my folks house to have a relaxing Sunday watching the Bears game with some family.
My dad mentioned he had dinner with a buddy of his the day prior and he had mentioned how I had told him about Bitcoin a few years back. He told my dad he had invested “alot” into it. My dad asked him what “alot” was and he said $150,000.
Here’s the catch, he didn’t direclty invest into Bitcoin, he invested into GBTC which is an accredited investment, not technically an ETF but essentially an ETF that is supposed to track Bitcoin, it doesn’t seem to do a great job of tracking Bitcoins gains however.
Anyhow, apparently he held onto it for a few months and couldn’t sleep with the volatility so he sold it all off.
Now in the world of Bitcoin and cryptos there’s a lot of crazy stories of would be millionaires. I think anyone who’s been invovled for more than a couple years probably has some story about how the Bitcoins they had years back would have been worth huge sums of money today so this story is nothing unique and in the grand scheme of things at this time the guy wasn’t even necessarily a super early adopter, but I did the math and had he actually invested into Bitcoin as opposed to the ETF and had he held it until today’s current highs, which is probably doubtful, that $150,000 would have turned into $1,850,000, potentially well over 2 Million had he gotten his Bitcoin Cash split and sold while the price was still high.
Anyhow, no real lesson today just thought that was a funny story and thought I’d share it with you.
In this video we also talk a bit about accredited investor rules, my Social Bluebook investment and being an ambassador/evangelist for Bitcoin. Check out the video to get the whole story