Thread by @OhHaiAndy

#Bitcoin made me a millionaire.

Is it too late to invest?

Time for a thread 👇👇👇

I first heard about Bitcoin back in 2012 or 2013 on a technology forum I belonged to.

It sounded silly to me (I was an idiot at that time) and I completely dismissed it.

When I heard about it again in 2016, for some reason I didn't dismiss it and I bought a tiny amount.

As we moved into 2017, it started picking up momentum and I thought:

"Huh, there might be something to this"

Then Dec of 2017 happened and Bitcoin nearly hit $20,000 and everyone became rabid with FOMO.

I got caught the FOMO and bought more Bitcoin and then watched it drop.

What came next was a 3-year bear market where Bitcoin eventually found its way to lows in the $3,000-$5,000 range.

Many people who bought the "top" sold off during this time and many others said, "Bitcoin is dead."

I did a few important things during this time:

1) I researched the hell outta Bitcoin

2) I spent all our spare money on Bitcoin

3) I didn't sell any of my BTC

4) I was super patient (the single most important one)

5) I ignored everyone who said it was a bad investment

I became wise to the idea that the US Gov would never stop printing dollar bills out of the giant printers.

Too much temptation & it's too easy.

I realized I needed a place to keep my money where it would be safe from inflation.

But I wanted something with incredible upside.

Bitcoin has a hard limit of 21 million coins. No more can exist.

There are approximately 46.8 million millionaires in the world.

And the world is quickly becoming completely digital.

So, the math was easy for me.

I bought Bitcoin all the way from $19k down to under $4k.

I bought big chunks and small chunks.

I have bought all the way back up to $50K+

My average buy price for Bitcoin is $8,500 per coin.

When buying, I employed 2 strategies:

1) DCA or dollar-cost averaging

2) Lump sum buying on the dips

For DCA, I purchased a little Bitcoin ($250) most weeks of 2018-2020.

I set up an auto-buy and ignored it.

I first started buying with Coinbase: a.ndy.fyi/coinbase

But then I wanted to pay fewer fees, so I switched to @river - a.ndy.fyi/river

@river If the buying process scares you, don't worry, it's really pretty easy to buy Bitcoin now.

I made a great video on this exact topic you can check out here:

@river AND If you want to learn more about Bitcoin in general, the buying process, and where to store it, then you should definitely check out this amazing guide by @InvestorsTheory

a.ndy.fyi/BTCguide

@river @InvestorsTheory While doing the DCA, I also did lump-sum purchases.

Any time I found myself with a large chunk of cash, I set it aside.

When Bitcoin would make a decent-sized drop in price ($1000-5000),

I would dump that saved money into my investments, with most going into Bitcoin.

@river @InvestorsTheory I did this religiously all through 2018, 2019, and 2020.

Towards the end of 2020 something amazing happened.

Bitcoin started moving again... but the moves were unlike anything it had done before.

It blasted past its previous high and went to $40k and then up to $60k this year.

@river @InvestorsTheory When Bitcoin started on this run in 2020, something else amazing happened.

We became millionaires.

Bitcoin pushed us over the top.

https://twitter.com/OhHaiAndy/status/1362877140845395969

@river @InvestorsTheory So what's next? Is it too late to invest in Bitcoin?

What's next for me, is that I will keep putting money into Bitcoin.

So that should tell you if I think it's too late or not.

Far from it in my opinion. Bitcoin still has massive upside from here.

@river @InvestorsTheory Bitcoin has so much momentum behind it now.

Microstrategy converted their whole company to Bitcoin.

Tesla bought $1.5 Billion in BTC (worth $2.5B now).

Grayscale now holds $20 Billion in Bitcoin.

More institutional interest every day.

@river @InvestorsTheory Bitcoin has one of the most powerful computational networks on the planet keeping it secure and keeping it going.

Bitcoin has so much going for it into the future.

Also, If you think Bitcoin is pricey at $50-60k, you're going to think it's crazy expensive at $300-500k.

@river @InvestorsTheory So, Bitcoin made us millionaires earlier than we planned.

I am a long-term thinker, so I believe it will also make us multi-millionaires earlier than planned.

Thanks for reading my thread.

@river @InvestorsTheory Smash that retweet button on the top tweet if you enjoyed this thread and give me a follow for more money content 👉 @OhHaiAndy 👈