A young Australian began investing in both the traditional stock market and digital currencies five years ago. Since then, his portfolio of investments in the digital currency market has not only been higher than his portfolio of investments in the stock market, but he has also managed to buy the house of his dreams.
According to Kevin Telegraph, a young man from Queensland, Australia, has managed to make a lot of money from years of bitcoin and atrium storage. With this investment, he even overcame inflation and rising property prices in 2020. He finally managed to buy the house of his dreams with his own profit.
The 23-year-old, named Loi Nguyen, first invested in Atrium, Bitcoin and shares of companies in traditional financial markets in 2017 for only a few hundred dollars. However, his entry into the economy increased his interest in digital currencies.
Digital currencies came back to me as I studied inflation in the college classroom. That’s when I realized that bitcoin is anti-inflationary in nature.
Nguyen explained that he could never enter the real estate market with the low interest rates of traditional banks (below 0.5%). Therefore, in the midst of the downturn in 2018, he tried to diversify his portfolio using the strategy of averaging costs in dollars.
I know I took a lot of risks at the time. I wanted to protect my purchasing power and my savings, and my goal was not to devalue my money.
With the outbreak of the Corona virus and the collapse of traditional financial markets, Nguyen’s digital currencies have surpassed its portfolio. At the time, he decided to focus more on digital currencies instead of traditional financial markets. The young Australian finally managed to save 1 full bitcoin in a few months.
Between November and December 2021 (November to December), when the price of bitcoin was at its all-time high of $ 69,000, Nguyen cashed in some of his digital currencies to buy the house he was looking for. The young Australian eventually sold half of his digital currency portfolio and paid part of the initial down payment of $ 31,000 ($ 43,000).
Nguyen bought a one-bedroom apartment in Brisbane with his own money. The house was priced at $ 314,000 ($ 430,000) and an advance payment of $ 62,735 ($ 86,000). He managed to provide half of the advance payment he needed using digital currencies.
After graduating from high school, Nguyen worked full-time at a bank for a year, but his salary was only $ 20,400. He says he is now making more money by investing in digital currencies.
An Australian cybersecurity firm recently highlighted the special possibilities for digital currencies. A recent Commission paper entitled “Discovering Digital Currencies” shows that the Australian market needs a strong regulatory framework to increase transparency and investor confidence in digital currencies.
Advising on minimum cybersecurity standards, empowering investors (creating awareness through specialized training), following expert advice and creating transparency in industry-active collections are the four key factors leading to the proper adoption of digital currencies, he said. advisor to the central bank. He will be in Australia.
The publication How I bought my dream house; The interview with a 23-year-old investor in digital currency appeared for the first time in Digital Currency.