🤯 Family loses $1M after liquidating their house to buy Bitcoin.

July 04, 2022

What up, Family 👨‍👩‍👧‍👦

It’s Seedphrase Daily👋 Your friendly neighbourhood crypto mans that swing around the Web(3), giving you the most quality and relevant info directly to your inbox.

Happy July 4th ☀️ Today’s estimated research time is 5 hours and 32 minutes condensed into a read time of 4 minutes and 58 seconds. Stay tuned to where we talk about:

  • 🤯 Family loses $1M after liquidating their house to buy Bitcoin.

  • 👨‍🏫 Lessons from the last bull run

  • 🌴 Planting Plays

😴Too lazy to read?

Sometimes it's hard to concentrate on words. Good luck to you; our team has been working hard behind the scenes on our Youtube Channel to give you content you can listen to while driving or watch if you're with a significant other. They would definitely love that.

Every week we talk about trending topics, our thoughts on the market and potential opportunities, so tap in!

Here’s a link to the YouTube Video 😎

We mention:

  • Big alpha plays from a $1B hedge fund and the project their investing in

  • The future of successful NFTs

  • 50% of the population NFTs are missing; WOMEN

  • What’s going to happen in the next few years

And more!

Ok, now into Today’s email 📢

🤯Family loses $1M after liquidating their house buying Bitcoin.

Back in 2017, when Bitcoin was $900, Didi Taihuttu, his wife and three daughters did the degenerate’s dream and liquidated all they owned, trading a 2,500-square-foot house and their regular life in the suburbs for Bitcoin and an adventure on the road.

Now known as the “Bitcoin Family” to the press, they’ve travelled around the world for six years and visited 40 different countries, buying and selling cryptocurrencies. 🌎

Let’s take a dive!

What was his investment strategy? It must work well if he can do all that!

Didi says, "Slowly, people will understand that being in bitcoin and HODLing is more profitable than always trying to catch that altcoin that will go times thousands."

He told CNBC his portfolio had gained more than 2,000% in the last six years. During that time, he entered and exited bitcoin multiple times, trading his coins at the opportunities he saw. 💰

But they didn't just do that by sheer luck. They followed a set of rules and didn't break them. The Taihuttus used the 70/30 rule to keep themselves emotionally grounded through the journey.

At any time, they keep 70% of their Bitcoin holdings in cold storages (our email where we discussed this) and the other 30% in an array of hot wallets consisting of a mix of Bitcoin, Ethereum, Litecoin and various stablecoins pegged to the US dollar.

The Taihuttus are smart enough to make their cold wallets difficult to access.

Most of the crypto fortune is in secret vaults on four different continents, including two hiding spots in Europe, another two in Asia, one in South America, and a sixth in Australia. The hunt begins🕵️…jk

But after all the exploring, It was time they laid their roots in Portugal, one of the last places in Europe with a 0% tax on crypto.

What are they up to now?

To keep themselves busy, they run a Bitcoin bar on one of the most popular beaches in Lagos. Leading by example for the firm believers in crypto, he plans to convert all the vendors along the beach into Lightning-friendly retailers—a payment platform on top of Bitcoins base layer that allows transactions with lower and faster fees.

Coming back to 2022, Bitcoin is trading at around $19K; they say their down over $1M on their investments.

A quote he shared "If your timeframe is a week, or a month, or even a quarter, I think there's still significant volatility. If you have a time horizon measured in years, then yes, this is a great opportunity to think about entering the market."

Why would someone do this 🤔? Sell all of their physical assets to buy something that:

  1. Has no intrinsic value — it does not belong to nature or to a constitution. The value comes from the people investing.

  2. No physical form — If the internet goes boom and for some reason technology doesn't work anymore, Bitcoin becomes useless because it's not something tangible like gold.

To the average Joe, this would seem like something only a crazy person or degen would do. And even after losing $1M+, he's still bullish! He claims he's buying more because he thinks this is the bottom of the market.

Maybe the Taihuttus see the benefits and long-term value such as:

  • Asset Tokenization

  • Onchain Governance

  • Smart Contracts

  • Corporate Treasuries

  • State Treasuries

  • Store of Value During Times of Conflict

But who knows? Maybe he is just crazy…🤷‍♂️

Either way, those are the best people we can learn from!

👨‍🏫 Here are some critical lessons from their perspective and things we learned from this last bull run prompting us to understand why they could be so bullish on crypto. Thanks to @POMP

  • BTC and ETH have had negative returns since inflation turned higher. On the other hand, they are among the best performing assets since the COVID policy response in March 2020 if you do not adjust for volatility.

  • The more Wall Street onboards bitcoin as its shiny new macro toy, the more it is clear: bitcoin is a high-volatility risky asset that works as a hedge against financial and monetary insanity.

  • It reacts to policy, not inflation.

  • Bitcoin was never about inflation. It's about how monetary and fiscal policies create and stamp out inflation—getting ahead rather than hedging it. If that were the case, you could use Stocks or Bonds. The FED is still trying to adapt bitcoin because they know crypto is not going anywhere. Open your eyes.

  • Bitcoin is still young, and this is the first time a cycle presents institutional adoption, so we can't be 100% sure that the following cycles will look the same as previous ones. It's less than 20 years old, an infant to some people. At that age, you're still learning how to do things. If you think you're late, you're not. And Didi would agree.

  • You need Speed. Did Taihuttu wait until Bitcoin dropped to $20K to sell? No! He acted fast and sold when he saw a top and bought it as soon as he thought it was the bottom.

  • Sometimes you need to go all-in (obviously, give it some thought). Didi and his Family literally sold all of their property and assets because they had conviction on research and their decision. Do the same with investing or anything you try.

👀🌴 Planting Plays

A new series where we present a potential opportunity for you to make a quick profit! NFA just some crypto research from your faithful Web3 friends at Seedphrase :D

Adidas NFT x WAGMI

WAGMI United is a brand dedicated to bringing Web3's most innovative ideas to the world of sports. The project will be released on July 6 and will enable fans to play a unique role in shaping the future of professional sports teams.

The collection's utility includes:

  • Special input on the future of Crawley Town FC

  • Limited edition Adidas collaborative merchandise, including the Adidas x WAGMI United x Chromie Squiggles jersey, with more to be announced

  • Access to exclusive IRL events

🌱New Seeds

Radio Shack rebrands as a crypto platform. Is anyone buying $RADIO? 🙋‍♂️

Kevin Hart enters the Web3 space! Smart business moves on his end, and more should follow. 🚗🚴‍♀️🚴🚴‍♂️

Salvador's Bitcoin-boosting leader buys $1.5 million. Either the worst or best play of their life. 🙏😅

3AC files for bankruptcy. What did we say? I hope you guys took your money out 🤷‍♂️😭

What did you think of today's email?

That's all for today. What are some things you have to review for the next couple cycles? Think about it... Now go over them. Make sure to follow us on Instagram and Twitter for more up to date content! And check out our NEW YouTube video and subscribe because we are giving away 1Ξ once we hit 1000 subscribers.

See you tomorrow! ✌️ 💎

None of this is financial advice. This newsletter is strictly educational and is not investment advice or solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research!

Reply

or to participate.