Amid reports that Bitcoin trading has recently "fallen off a cliff," it is important to remember that timing is everything in the crypto game.
But for one man who played a blinder and became a multi-millionaire off the back of the crypto boom, a Catch-22 situation developed as he claimed that having stacks of cash is 'boring'.
The investor, who opened up on a Reddit thread, said last year that he feels like he's used a "cheat code" and doesn't deserve the fortune after a "lucky bet".
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The unnamed man worked reasonably succesfully as a content creator but saw his salary rise from around £25,000 to ten times that amount when he took a punt on virtual trading in 2014.
Despite the risk involved, he discovered Bitcoin and "fell down a deep rabbit hole," putting almost everything he had saved into it.
The investor said: "I know that many here think Bitcoin is 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 £2 million 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.
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"I jammed everything into a simple three fund index-based portfolio of US Equity/Foreign Equity/Bonds."
But he said he "never acquired a taste for expensive things" when he lived more frugally, and instead saved a chunk of his salary each year. This meant that the newfound cash became burdonsome.
He kept working, but "way less" for almost two years. He added that everything "mentally changed" for him as the "excitement was stripped from doing work" as he could afford the luxuries without a job.
After hitting more than £26 million in 2019, he decided to "take a break completely from work" and took time to travel, start new hobbies and visit friends.
Despite his fortune, the man says he now has a "two-fold problem" as he cannot "recreate" the excitement of his life with just money, while also feeling like he "doesn't deserve" the cash.
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