21.07.2024

How Successful Bitcoin Investments Can Lead to Family Fights and Divorce

Cryptocurrency investments bring not only huge profits, but also problems in human relations with the prospect of going through a divorce. In a February 2015 post on social media platform Reddit, the 28-year-old woman revealed that she is incredibly upset with her husband, who has not stopped buying bitcoins since 2013 and has not consulted with her.

According to her estimates, he bought a crypto-asset worth over $ 22,000 two years before publication, when the price peaked at $ 1,100 and then collapsed. Now, when the cryptocurrency rate is above 50 thousand dollars, the intentions of her husband no longer look so crazy – especially if he managed to save the coins.

To begin with, let’s explain that some investors are really very active in investing in cryptocurrencies and are trying to increase their fortune at any cost. It’s easy to understand them, because the blockchain asset industry is young even now, so long-term communication with it can end up in millions in profits.

For example, yesterday the anonymous owner of 200 bitcoins sent them to an unknown address and most likely sold the crypt. The funny thing is that the coins came to his wallet at the end of 2013. Accordingly, he did nothing with them for over seven years.

bitcoins investment

Receiving 200 bitcoins at the end of 2013

BTC is trading at $ 53,716 this morning. This means that 200 bitcoins are valued at $ 10.74 million. And this is a well-deserved reward for the ability to discern a promising investment in advance, as well as not be afraid to risk your own money.

How to invest in Bitcoin

And now we return to the situation with the married couple. Here is a quote from a wife’s post that highlights the details of human relationships and the behavior of an investor husband. It is noteworthy that the woman used a one-time account to create the record, thanks to which she was able to keep her identity anonymous.

I kept telling him to sell as the price was going up, and he promised me a good period for the cryptocurrency market in 2014. The price then started to fall and he kept buying more. He earns more than me, but we are building the future together, and we have a common bank account. He told me all the time that it was necessary for our children’s college fund to buy a house and so on.

That is, in this case, the husband continued to invest in the asset even as its value fell. Such a strategy in trading is called DCA or Dollar cost averaging, that is, «averaging the dollar value.» With its help, an investor can reduce the average price of entering a position in unfavorable conditions for him. For example, buyers of Bitcoin in 2017 at $ 20,000 did not have to wait until the end of 2020 in order to gain profit. They could buy cryptocurrency for the same amount in dollars, for example, at a rate of 10 thousand dollars. Taking this into account, the average price of opening a position would now be not 20, but 15 thousand dollars.

Note that some investors oppose this strategy and generally recommend not investing in unprofitable positions, as well as closing them. Naturally, doing this in the case of little-known new cryptocurrency projects that have recently been launched and have already begun to fall is too dangerous: it may end up in the loss of the entire deposit. But Bitcoin, during its existence, has not let down investment lovers yet. Therefore, many people use the first cryptocurrency and have been waiting for its sale for many years.

The wife even stated that her husband was «brainwashed» and that he «stole her happiness.» The investor allegedly constantly mentioned Bitcoin even as part of her business relationship at work. Here’s a quote from Cointelegraph.

After the recent price crash, he actually bought more coins with our vacation fund money, which I was saving and planning. Everything is gone, now the money is in bitcoins, and no one will see it again.

Bitcoin trading cryptocurrency

All-time rise in Bitcoin price

It is unclear whether the couple stayed together after all that happened, or whether the husband sold part of his investment to avoid new financial problems. The anonymous user compared her spouse to a drug addict and thought of «staying at the hotel for a few weeks» to contemplate the need for a divorce. In hindsight, however, her husband’s early investment could have easily paid off. Even assuming that he bought BTC after the price spike to $ 1,000 in November 2013, his accumulated roughly 22 BTC should now be worth over a million dollars.

The post itself was posted on the r / relationships channel, which is dedicated to family relationships. Given the relatively low popularity of crypto at that time, many commentators advised his wife to divorce and split the family budget completely. Until today, it is not known what kind of decision was made by his wife. However, there is a chance that she could not have seen the incredible growth of Bitcoin in 2017. Recall, then he started the year with a thousand dollars and ended with 20 thousand.

In general, in light of recent events in the coin market, her husband’s decision looks like one of the best investments that comes across only once in a lifetime. In addition, according to the research platform Glassnode, the amount of BTC on cryptocurrency exchanges has decreased by about 20 percent over the past 12 months . This indicates the growing confidence of investors that the market will continue to run and their expectations for Bitcoin to rise above the psychologically important $ 100K mark .

This means that it is possible that the mentioned man will become even richer if he managed to preserve his cryptocurrency savings. However, as we already know, some coin holders have no problem holding coins for seven years or more. The most recent proof of this was the pizza delivery man who increased his tip nicely.

Bitcoin trading cryptocurrency

Reduction in the volume of coins on exchanges amid the growth of cryptocurrency

We hope that the early Bitcoin investor was able to save his cryptocurrency and how to make money on investments. Still, it was not easy to invest in his situation, since his wife did not welcome it. But at the same time, the BTC rate decreased during a certain period, which made the pressure even greater. So the millions of dollars in rewards for this seems more than fair.

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