Zinger Key Points
- Investor Rego shares how a dollar cost averaging strategy brought their portfolio value to over $1 million.
- The investor emphasized that Bitcoin is not inherently risky but requires understanding, now widely recognized by institutions.
- Get New Picks of the Market's Top Stocks
A pseudonymous crypto investor shared their success story of using a dollar-cost averaging strategy to buy $30 of BItcoin BTC/USD a day over seven years and hitting a portfolio size of $1 million in the process.
What Happened: The investor, who began their Bitcoin buying strategy at the age of 22, has diligently purchased $30 worth of Bitcoin every twelve hours for nearly eight years.
This disciplined approach has resulted in a portfolio valued at over $1 million , a life-changing sum for the investor who came from a family struggling with debt.
“I sacrificed going out with my friends to allocate to this belief. I stayed home. I didn’t buy a new car. I didn’t buy fancy things. I kept it minimal,” ‘Rego’ shared in a post on X, highlighting the personal sacrifices made to maintain the investment strategy.
The investor’s strategy went against conventional wisdom: “Throughout this entire time, I was told my buys were inefficient, my strategy was not effective, and that I would eventually sell at a loss.”
However, their conviction in Bitcoin’s potential proved stronger than the doubts of others.
Also Read: Bitcoin Below $100,000 — Veteran Trader Shares Profit-Taking Strategy
Why It Matters: Rego's success story demonstrates the power of consistent investing and conviction. “Bitcoin is not a risk; it's a matter of understanding. The more you learn, the more obvious its potential becomes,” Rego said.
Over the past seven years, Bitcoin has achieved an impressive 8,048% gain, with 155% of this growth occurring in the last year alone.
In total, Rego invested $10,920 per year, highlighting the difficulty of staying true to the investment thesis through events like the collapse of FTX.
Read Next:
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
