A man who threw his life savings into Bitcoin and quickly became a millionaire before leaving his job has claimed being rich is BORING.
The investor says he feels like he’s used a “cheat code” and doesn’t deserve the fortune after a “lucky bet” on the cryptocurrency gave him stacks of cash.
Working as a content creator for almost a decade – a career that allowed him to travel and book into plush hotels and enjoy luxurious dinners – the man saw his salary soar from around £25,000 to ten times that amount.
He says he “never acquired a taste for expensive things” and so saved a good chunk of his salary each year.
In 2014, he discovered Bitcoin and says he “fell deep down the rabbit hole” and put almost everything he had tucked away into it – a dangerous move as buying any cryptocurrency is incredibly risky.
Posting on Reddit, he said: “I know that many here think bitcoin in a huge speculative gamble and after riding through a major up and down, you are preaching to the choir.
“Regardless, I love the idea of it and fell deep down the rabbit hole– reading and watching every bit of content I could find.
“Over the span of a year and a half I put almost everything I saved into it – figuring my earnings would set me back ahead even if it tanks. (Again, crazy/foolish I know).”
By 2017, he was able to cash out more than £2million after tax.
He added: “Around this time, I was trying to learn how to “live off the interest”, get off that crazy rollercoaster, invest responsibly.
“I jammed everything into a simple three fund index-based portfolio of US Equity/Foreign Equity/Bonds.”
He kept working, but “way less” for almost two years but he says everything “mentally changed” for him as the “excitement was stripped from doing work” as he could afford the luxuries at this point without the job.
After hitting more than £26million in 2019, he decided to “take a break completely from work” and took time to travel, visit friends and start new hobbies.
Despite his unbelievable fortune, the man says he now has a “two fold problem” as he feels he can’t “recreate” the excitement of his life with just money, while also feeling like he “doesn’t deserve” the cash.
He added: “I’m at the same mental place a lot of people get to when they hit their number.
“I used to love my job and it was a source of lots of excitement in my life. Hard to recreate that with just money, but I also don’t feel like doing the work it takes just to get the high status stuff.”
“Two, I don’t feel like I deserve this at all because I got here earlier with a lucky bet on crypto.”
The man feels he would have become rich anyway through his job, but later in life when he says he “would have felt he actually earned it”.
“Basically, it feels like I used a cheat code on my life and now I’m not sure how to make it fun again,” he added.
“And don’t feel like I “deserve” to FIRE (financial independence, retire early).”
Despite this man’s “luck” with Bitcoin, buying any cryptocurrency is incredibly risky.
With any investment, there is a risk that the value of your money could go down as well as up. That means you should only invest money you can afford to lose.
Read full story on The Sun Magazine