A self-taught investor reached $1 million in Bitcoin after over 7 years of perseverance thanks to a Dollar Cost Averaging (DCA) strategy. His inspiring testimony, marked by sacrifice and unwavering faith in the Bitcoin protocol, shows how he transformed his life despite doubts and criticism.
7 years, 10 months and 12 days to reach a million dollars
An investor revealed that he reached the symbolic milestone of $1 million after practicing Dollar Cost Averaging (DCA) on Bitcoin for 7 years, 10 months and 12 days.
On December 26, 2016, Regothetrader started its DCA, an investment strategy which consists of regularly investing a fixed sum in a financial asset, in this case BTC, regardless of its price.
💡 Understand everything about the Dollar Cost Averaging (DCA) strategy
Due to a daily investment of $30, he has since acquired more than 11 BTC.
With a contribution of $86,940, he now has a beneficial investment return of 1,137 points for a total cash value of more than $1 million.
Performance of this investor’s DCA
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The inspiring journey of a self-taught bitcoiner: sacrifices and conviction
On the social network Coming from a family with little financial education, his parents lived in debt and tormented by the weight of money.
These are the elements that will push him to transform “ this hellish life “, in one ” life he can be proud of “.
This journey has been made with literal blood, sweat and tears in parts of my life. However, I couldn't be more proud of the progress that I'm here to share with you today.
In this speech, he recalls the psychological difficulty of maintaining this strategy in the long term, particularly when the market is bearish, sometimes leaving “ fear, doubt and uncertainty » grab hold of him, he explains.
👉 In the news – 59% of cryptocurrency investors opt for DCA, according to a Kraken study
However, it is with conviction that he will continue to believe in this mathematical certainty that is the Bitcoin protocol:
Many times I have been tested on my own due diligence and conviction. Regardless, I continued forward with what I believed to be mathematical certainty.
He explains having made many sacrifices: “ having limited oneself to the strict minimum ”, budgeted its expenses, “ worked long hours at crappy jobs » and having sacrificed outings with his friends, among other things.
Also, an iron discipline undermined by “ experts » explaining to him that his “ strategy was ineffective » and that he “ would end up selling at a loss »:
Today we find ourselves in a position that would leave most people and traditional investors stunned. I stood up to banks, financial advisors, risk management professionals, and so many other people we call “experts.” I am here to tell you today that they were wrong.
For this believer, it is obvious that Bitcoin is not a risk but rather a question of good understanding: “ The more you learn about it, the more obvious it becomes “.
He insists that the most important thing remains the ability to make decisions that are appropriate for one's situation.
He will end his pamphlet by celebrating this opportunity which was offered to him to change his life. A decision that “ given the security to take bigger and more attractive risks in my life », he testifies.
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