Bitcoin Investor's Big Bet: Buying Through the Crash Pays Off
A Bitcoin investor shared their story of perseverance in the face of market volatility. They began buying Bitcoin in late 2020, right through its peak in 2021, but things took a downturn in 2022.
The price crashed, leaving the investor 'deep underwater' on their holdings. However, they didn't give up and instead continued to read about Bitcoin's fundamentals, such as its fixed supply and inability to be debased.
The investor treated the bear market as an opportunity and put every spare dollar into Bitcoin from summer 2022 until the bottom. They even refinanced an investment property to free up more cash and bought more Bitcoin, lowering their cost basis to under $20,000.
By January 2023, their position was profitable again. The investor noted that despite FUD (fear, uncertainty, and doubt), adoption has continued to grow, with total addresses holding any Bitcoin reaching a record high of near 59 million in mid-2024, with roughly 4.7 million of those being new.