coinquora.com
A 23-year old from Australia purchases a property worth $314,000. The person, named Loi Nguyen, was able to do so thanks to his planned cryptocurrency investment strategy.
A resident from Queensland, Nguyen patiently accumulated BTC and ETH over several years to eventually be able to afford his dream home following the 2020 cryptocurrency bull run.
In 2017, Nguyen started his journey as a cryptocurrency investor. He purchased a few hundred dollars’ worth of bitcoin, ether, and traditional stocks. However, in 2021, his cryptocurrency investments outweighed his entire stock portfolio.
In an interview with news.com.au, Nguyen revealed that the lowered interest rates of traditional banks would never allow him to break ground into the real estate market. By applying a dollar-cost averaging investment strategy, the Australian investor gradually diversified his portfolio to include cryptocurrencies amid the temporary bear market of 2018.
When traditional markets collapsed at the start of the Covid-19 pandemic, Nguyen’s cryptocurrency investment began to surpass the value of his stock portfolio. This was a key moment for the investor, as he shifted his focus away from traditional markets to focus more on cryptocurrency. He eventually accumulated 1 BTC over several months.
Nguyen invested his funds with the intention of purchasing real estate and, during November and December of 2021, he was able to cash out the money he needed to start getting into the real estate market. In total, Nguyen cashed out less than half of his cryptocurrency portfolio, leaving him around $31,400 at the time, which he could use as a downpayment.