There are many reasons to buy Bitcoin (BTC): inflation hedge, financial independence, or simply the hope of driving a Lamborghini one day!
“Mr. ERB,” a well-known blogger and bitcoin enthusiast, is dreaming instead early retirement. The ERB maintains on its blog a detailed account of all its finances and recently discussed its BTC accumulation strategy with Cointelegraph.
he says “The first interest in bitcoin in the summer of 2017,When one of his colleagues introduced him to the idea of a decentralized peer-to-peer currency.At that time, the price was about 2,000 euros per coinI thought it was too late to invest.“He claims.
This is a common sentiment among many who are approaching Bitcoin for the first time. The ERB decided to invest in the original anyway after listening to a podcast on BTC where Trace Mayer predicted the cryptocurrency could reach $1 million:
“It was at that moment that I realized that I wasn’t late at all, but early. I felt Bitcoin was a great way to get into early retirement, so I bought my first coins in October 2017.”
The ERB will only realize his retirement dream when his bitcoins reach €1,000,000. Invest 500 euros every monthHis first contribution was in 2017; Needless to say, five years later, the strategy has proven successful.
“I don’t think I could remotely achieve similar returns with any other strategy. Not to mention it’s a very simple method, and doesn’t require active investment management. Buy and hold, buy again the following month.”
The ERB Blog explains in detail how to do this The current return on investment is greater than 450%. Compared to the S&P, which in the same time frame would have shown a 44% return,”This is ten times higher, and soon it will be a hundred times higher.“
In its investment journey, ERB learned several important lessons:
“My world view before Bitcoin was very limited. My life was just school, work, retirement and eventually death. Today I think a little differently: now, my focus is entrepreneurship and self-mastery.”
Related: Reddit user puts $100 in BTC in a letter that will open in a hundred years
Finally, the ERB shared some tips for those who are new to the Bitcoin world and would like to start investing in cryptocurrency:
- “Keep mining fiat money, keep buying bitcoins.And don’t try to get rich quick because…will not work.“
- “Give yourself five yearsTo really get to know Bitcoin, take your time to learn. Listen to the right podcast, read the right books and see if it’sInvesting in Bitcoin was a good idea or a bad idea.“
- “Resist the urge to recommend Bitcoin to everyone you know,“Especially if you don’t fully understand the asset yet. The ERB admits that it has damaged some relationships precisely because of its excessive enthusiasm for Bitcoin, especially in its early stages of its formation.
- Finally, HODL! Despite the crash in March 2020 — when the price dropped to just $3,600 a coin — it was “really bad,The ERB explains thatIn hindsight, those were the best times to shop.“
So far, the ERB has raised more than $200,000 in Bitcoin.