Being wealthy is 'boring,' according to a Bitcoin millionaire who retired at the age of 35.

A man who put his life savings into Bitcoin and became a millionaire before quitting his job claims that being wealthy is uninteresting.

After a "lucky bet" on the cryptocurrency gave him stacks of cash, the investor claims he feels like he used a "cheat code" and doesn't deserve the fortune.

Working as a content creator for almost a decade, the man saw his salary rise from around £25,000 to ten times that amount, a career that offered plush hotels, luxurious dinners, and the ability to travel around the world.

He claims to have "never developed a taste for expensive things" and instead saves a portion of his annual salary.

He discovered Bitcoin in 2014 and claims to have "fallen down a deep rabbit hole" by investing almost all of his savings in it - a dangerous and extremely risky move.

Cryptocurrencies are extremely volatile, and investors risk as much money as they're willing to put into them. "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," the investor wrote on Reddit.

"Regardless, I'm enamored with the concept and went down the rabbit hole, reading and watching everything I could find."

"I put almost everything I had saved into it over the course of a year and a half, figuring that my earnings would put me back in the black even if it tanked. (Again, crazy/foolish, I know)"

He was able to cash out more than £2 million after taxes by 2017.

"Around this time, I was trying to figure out how to 'live off the interest,' get off that crazy rollercoaster, and invest responsibly," he continued.

"I crammed everything into a three-fund index-based US Equity/Foreign Equity/Bonds portfolio."

For almost two years, he continued to work, but "way less."

He went on to say that everything "mentally changed" for him because the "excitement" of working was taken away from him because he could afford the luxuries without a job.

He decided to "take a complete break from work" after earning more than £26 million in 2019, and used the time to travel, start new hobbies, and visit friends.

Despite his good fortune, the man claims he now has a "two-fold problem," in that he can't "recreate" the excitement of his life with money alone, and he also feels he "doesn't deserve" the money.

"I'm in the same mental place that a lot of people are when they reach their number," he explained.

"Two, I don't feel like I deserve this because I arrived earlier thanks to a lucky crypto bet."

The man believes he would have become wealthy regardless of his job, but that he "would have felt he actually earned it" later in life.

"It's as if I used a cheat code on my life, and now I'm not sure how to make it fun again," he continued.

"I also don't believe I "deserve" to FIRE (financial independence, early retirement)."

Regardless of the man's "luck" with Bitcoin, purchasing any cryptocurrency is a risky proposition.

Cryptocurrencies are riskier than other investments because of their volatile and speculative nature: their price rises and falls frequently, and for seemingly no reason.

Many cryptocurrencies have a short history, which makes them difficult to comprehend and predict.

Get the amazing news right in your inbox

about author
Leave a Reply