The price of bitcoin has experienced a roller coaster ride in 2017, but that hasn’t stopped one man from selling everything he owns, believing that the digital currency will make him rich.
The man in question is 39-year-old Didi Taihuttu. Speaking with the Business Insider, Taihuttu explained that this summer he and his wife made the decision to sell the family house, the car, a motorbike, electric bikes, clothing, shoes, and the children’s toys. Now he and his family live on a campsite in The Netherlands.
He explained the move by saying:
People will say, ‘You’re crazy.’ But we are an adventurous family and are going to gamble for a moment to live minimalist lives. If you never take a risk, life is boring.
Prior to selling everything, he and his wife had returned from a nine-month world trip through Asia and Australia with their three daughters. He was also spurred on after losing his 61-year-old dad from cancer.
During their travels, Taihuttu encountered many people involved with bitcoin. However, while he claims to have first become involved with the digital currency in 2010, he said he lacks ‘experience in trading.’
That, however, hasn’t stopped him from jumping straight in at the deep end.
Taihuttu, along with a friend, initially set up a business to mint bitcoin, but when the coin’s value rose in 2013 they sold everything. In hindsight, Taihuttu realizes how much more he could have made if he’d held on to the coins.
If I had known then that four years later it would have been 10 times more valuable, then of course I wouldn’t have sold everything. But then I thought: I have to make a profit.
It was shortly after when bitcoin’s value dropped that Taihuttu turned his attention to Dogecoin, which, at present, is currently ranked 55th on CoinMarketCap. With Dogecoin’s value rising Taihuttu realized that there was something going on in the market.
After selling their processions – they listed their home for 85 bitcoins, which is currently being negotiated with a buyer – they now live in a chalet on a campsite in The Netherlands. For now the family are embracing the minimalist lifestyle; however, Taihuttu hopes that by 2020 his wealth with bitcoin will be worth by three to four times as much.
Featured image from Shutterstock.
Alabama Securities Watchdog Hits 3 ICOs with Cease-and-Desists
The Alabama Securities Commission (ASC), the U.S. state's securities regulator, has joined its counterparts in Texas and New Jersey in hitting out at initial coin offerings (ICOs) that are soliciting
Bitcoin Faces First Close Below This Key Long-Term Support in 2.5 Years
Bitcoin risks closing below the 50-week moving average (MA) – an important long-term support not breached for over 2.5 years.
With the bears already on the offensive following the recent sell-off,
China MIIT’s Yu Jianing: Neither Blockchain Nor Bitcoin is A Bubble
May 23, Yu Jianing, the director of industrial economic institute of the information center of Ministry of Industry and Information Technology (MIIT), indicated that “neither blockchain nor bitcoin
Norfolk Southern the Latest Railway to Join Blockchain Transport Group
U.S. railway network Norfolk Southern has become the latest industry player to join the Blockchain in Transport Alliance.
One of less than a dozen Class I railroads in North America, Norfolk Southe
EY's Maritime Blockchain Insurance Tech Is Now Live
A group of companies piloting a blockchain-based insurance platform for the global shipping industry announced on Friday that the technology is now live in commercial use.
Dubbed Insurwave, the blo
ShipChain Pushes Back Against Securities Violations Claims
Supply chain startup ShipChain claims it was unaware its SHIP tokens were available to South Carolina residents in its first public response to the state's cease-and-desist order.
The blockchain co
Most Big Cryptos Dropped this Week – These Two Bucked the Trend
The cryptocurrency markets are set to end the second week of May on a low note.
The total market capitalization for all cryptocurrencies fell below $400 billion for the first time since April 26 on
Bitcoin tracking for slight weekly losses despite news of regulatory crackdowns
Bitcoin has held up relatively well this week despite negative headlines about regulatory crackdowns. For analysts with a long-term view, that price action fits with their thesis that increased