Cryptocurrency News
The €1M Bitcoin retirement plan reaches 200K: ‘It’s not too late to invest’
2022.04.21 16:11
The €1M Bitcoin retirement plan reaches 200K: ‘It’s not too late to invest’
Motivations for buying Bitcoin (BTC) are numerous: a hedge against inflation, financial independence or even hopes for a Lamborghini and life in the sun.
For “Mr. ERB,” a keen blogger and Bitcoin enthusiast, it’s all about retiring early. ERB keeps a detailed account of his finances on his blog and spoke to Cointelegraph about his Bitcoin retirement plan.
ERB’s Bitcoin strategy chooses Bitcoin over dollars. Source: er-bybitcoin.comGreen is the Bitcoin price, orange is the retirement pot in Euros. The dotted line is the amount of cash invested so far. Source: er-bybitcoin.com
- “Keep mining fiat, keep buying Bitcoin.” And don’t try to get rich quickly because “you’re not gonna.”
- “Give yourself 5 years” to really get to know Bitcoin (that works out at one year more than a Bitcoin halving), and really take the time to learn. Listen to the right podcasts, read the right books and learn if “it was a good idea to invest in Bitcoin.”
- “Resist the urge to orange pill everyone around you,” particularly early on in the Bitcoin learning curve. ERB admits he may have some “damage” to certain relationships due to his overexuberance in Bitcoin at an early stage of his Bitcoin education.
- Finally, HODL. While the March 2020 crash in the price of Bitcoin down to $3,600 “felt really bad,” ERB explains that “in hindsight, those were the best times to buy.”
