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Crypto investment has made many millionaires and billionaires over the past few years. The industry has garnered notable attention, amid showing its enormous potential. But still many across the globe are speculating the volatile cryptocurrency market. However, recently, a young resident from Queensland, Australia has shared his long gameplay of accumulating digital assets like Bitcoin, Ethereum, and others for several years. And showed how his investments outweighed his entire portfolio last year and he managed to buy a $314,000 worth property.
Crypto investment story of loi Nguyen
Loi Nguyen, a young Australian resident began his journey as an investor in 2017. At the time he acquired some crypto assets and traditional stocks worth a few hundred dollars. Since then his interest in virtual currencies began to rise and hit a new high while pursuing an Economics degree.
Nguyen underscored that digital currencies came back into his life when he did a course at the university on inflation. Notably, the course helped him understand that BTC can be disinflationary.
Which strategy did the young investor use?
According to Nguyen, lower interest rates that are less than 0.5% which our traditional banks offer could never help him break into the real estate market. Indeed, he unveiled that he followed the dollar cost-averaging (DCA) investment strategy and continued to diversify his portfolio into cryptocurrencies. It is worth noting that he began to do so amid the temporary bear market that the ecosystem faced in 2018.
Nguyen further highlighted that he recognized that he took on a lot of risks. Indeed, the investor wanted to safeguard his purchasing power, protect current savings, and make sure that it didn’t dwindle away.
Investments outgrew amid global pandemic
Due to the global pandemic, the traditional market collapsed and the fiat currencies issued by governments devalued. At the time the crypto market saw its biggest rally, as investors began to shift to protect the value of their portfolio.
At the time, Nguyen’s crypto portfolio outgrew the value of his stock portfolio. Following the gains, his investment focus shifted from traditional markets further into digital assets.
With the intent of purchasing a property, Nguyen sold half of his portfolio in November when BTC hit its all-time high at the level of $69k.
Before stepping in the crypto market, Nguyen used to work for a rough $20,400 as a bank teller. And now the young investor claims that he is doing a lot better now.
