Reddit

Bitcoin

Story

The volatile year of <a href="https://en.coin-turk.com/what-is-bitcoin-mining/" data-wpel-link="internal">Bitcoin</a> (BTC) has not discouraged a Reddit user, who borrowed over $59,000 (about 1.5 million TL) and invested it all in the leading cryptocurrency. Despite Bitcoin’s unpredictable price movements, the Redditor is rather pleased with his strategy. 
<h2 style="text-align: justify" id="bitcoin-investment-with-credit">Bitcoin Investment with Credit</h2> 
According to the user’s post on the r/<a href="https://en.coin-turk.com/jim-cramers-criticism-of-crypto-industry-sec-actions-binance-and-solana-debates/" data-wpel-link="internal">Crypto</a>Currency channel on Reddit, he has managed to make a gain of about 25%, amounting to $19,500. The user, known as “Vaginosis-Psychosis,” took out three loans totaling $59,000 to make his investment, which turned out to be profitable. 
The investor, who has been buying BTC for the past 18 months, currently owns 2.65 BTC, equivalent to approximately $80,400. The investor believes that BTC will reach $100,000 by early 2025 and is planning to make a considerable profit from this prediction. 
<a href="https://en.coin-turk.com/?attachment_id=87181" rel="attachment wp-att-87181" data-wpel-link="internal"><img decoding="async" class="size-full wp-image-87181 aligncenter" src="https://en.coin-turk.com/wp-content/uploads/2023/07/reddit.webp" alt="" width="629" height="306" srcset="https://en.coin-turk.com/wp-content/uploads/2023/07/reddit.webp 629w, https://en.coin-turk.com/wp-content/uploads/2023/07/reddit-300x146.webp 300w" sizes="(max-width: 629px) 100vw, 629px"></a> 
On June 30, the investor shared details of his loan and investment strategy. He drew loans of $15,000 and $20,000 during the periods of February and June 2022, with annual interests of 6% and 4.9% respectively. The monthly payments for these loans were $225 and $326. In June this year, he took out a third loan of $24,000 with a fixed interest of 8%, paying a monthly amount of $405. 
<h2 style="text-align: justify" id="btc-investment">BTC Investment</h2> 
In May, the Redditor mentioned paying off his $15,000 loan and making a $3,500 payment towards another loan. His strategy was to settle the most recent loan first, apparently due to its high interest rate. Despite buying BTC at an average cost of $24,000, he was also able to purchase at a lower rate of $22,264. 
The user plans to consider selling when BTC hits $100,000. He didn’t expect BTC to reach this mark within 18 months, but he remains hopeful and seems to have a long-term plan. 
Many other users warned him even before he took out the loans, making comments like: “Taking a loan to invest in cryptocurrencies seems like a horror story.” 
However, it appears the investor is currently enjoying the fruits of his investment. 
The post <a rel="nofollow" href="https://en.coin-turk.com/bitcoin-investor-reaps-profits-from-risky-loans-a-success-story-from-reddit/" data-wpel-link="internal">Bitcoin Investor Reaps Profits from Risky Loans: A Success Story from Reddit</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Investor Reaps Profits from Risky Loans: A Success Story from Reddit

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