Bitcoin Gamble: Man Sells Everything and Camps Out Waiting for Next Boom
Man sells family home and everything in it for Bitcoin, gambling on the next big rise.
Investing pros always say never to invest more than you can afford to lose, but 39-year-old Didi Taihuttu decided to go against the grain. He has sold everything he and his family own and stuck it all in Bitcoin. He is now living in a campsite on a small fortune in crypto waiting for it to reach the moon.
Taihuttu really has put his money where his mouth is in terms of his belief in Bitcoin as he sold not only his house and cars, but everything else, including electric bikes, motorbikes, clothes and shoes. Taihuttu even sold his children’s toys.
He’s now waiting it out at a campsite in Venlo, The Netherlands, expecting that Bitcoin will boom, making him substantially richer from the investment. Taihuttu said:
"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."
The Blockchain revolution
Taihuttu thinks that Bitcoin, cryptocurrencies, and the Blockchain technology they are based on will be the future and that they are revolutionizing money and banking. He said:
"The Internet was a revolution for information. I think that Blockchain and Cryptocurrency are revolutionising the monetary system. In five years' time, everyone will say: 'We could have seen it coming.' I am responding to this change now."
Not the first time
Taihuttu has a history of major risk taking; this is not the first time he has sold it all and packed it in. In the summer of 2017 Taihuttu and his wife made the radical decision to sell everything in order to travel the world.
The couple has just returned from a nine month world trip through Asia and Australia with their three daughters. The Taihuttu's visits included Angkor Wat in Cambodia, swimming with dolphins near Brisbane and relaxing on the beach in Thailand.
Learning along the way
Taihuttu explains that it was on this trip that he started to hear more and more about cryptocurrencies, meeting people who were already invested in it and utilizing it to its fullest.
In Bali, he met a South African exchange trader who resigned after 17 years and went into crypto trading. And on the beach near Noosa in Queensland he spoke to someone from Dubai who was trading in Bitcoin. Taihuttu explains:
"They are people who have a lot of experience in trading. That is what I am still lacking a little.”
Taihuttu himself has been "in the coins," as he says it, since 2010, when the currency was worth less than one euro.
"I am an entrepreneur, so when I first heard about Bitcoin, I said: let's do this."