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Patience, Perseverance, and My 2 BTC

For most of us, it is considerably easier to come up with smaller investment amounts on a regular basis than it is to make a large, lump-sum input. While when it comes to the burgeoning cryptoasset investment, people seem to try to avoid such a regular purchase scheme but bet big with the fantasy of getting rich overnight.

Back in 2011, one could have bought bitcoins at $10. Selling them at $10,000 would have delivered a profit of $9,990 per coin. Basically you should have bought about only 100 bitcoins back when they were cheap, and this would have cost you around $1,000 in 2011 but make you a millionaire today.

Making a million with bitcoin today is probably still possible, but you will need a large sum of capital, or, extremely good luck. For average people, the more realistic way of making a fortune with bitcoin may be setting up a regular investment plan.

A user going by the name of “Coin hoarding-Man” on Chainnode (formerly 8btc forum, the earliest and largest crypto community in China) has shown his bitcoin investment experience after his total bitcoin stash recently reached 2 BTC.

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Starting on July 2, 2018, the guy purchased 1,000 yuan ($143) equivalent of BTC once a week, which would be transferred to his cold wallet every two/three months. As of March 1st, 2020, he has accumulated 2.0118 BTC with 87 purchases, at the cost of 87,007 yuan ($12,462) over the course. At current price, his bitcoins are worth about 131,800 yuan ($18,880) with an ROI of 51.48%.

A 50%+ ROI could be deemed a decent rate of return, which has outperformed most traditional asset classes (33% for crude oil, 24% for tech stocks, 18% for U.S. stocks) for the year of 2019 as uncertainty and volatility have been growing almost everywhere.

In his case, constant purchase is an effective way to defend against market fluctuations, especially the volatile crypto market. What he has learned from his bitcoin investment scheme, he said, is that he’s not good at pump-and-dump games and that regular purchase scheme is a good fit for crypto investment with less time and effort input.

His practice was actually inspired by another user on the forum who accumulated over 44 BTC on a weekly basis from 2015 to 2017. At the total cost of around $17,000 during that period, the return on investment achieved about 5,000% in early 2017 when he stopped the regular purchase scheme, and that is roughly 22 times ROI calculated at the current bitcoin price (the bitcoiner keeps these bitcoins intact till today).

What we have learnt from the two hodlers is that if you are not a bitcoin financial specialist but want to have a bitcoin venture plan and make a profit from it, maybe you could give a little portion of your asset to cryptocurrency on a regular basis and what’s needed next is patience and perseverance.

As comments under the post read,

“Those who could stick it out will finally see the bull run.”

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