Man Sells 800 BTC To Buy A House, Then Sells The Same House To Buy Back 50 BTC 3 Years Later

Man Sells 800 BTC To Buy A House, Then Sells The Same House To Buy Back 50 BTC 3 Years Later

A certain Twitter user who goes by the name Captain Bitcoin took to his Twitter handle to relate his rather pitiful story of how he had sold his 800 BTC to buy his family a house and then later sold the same house to buy back just 50 BTC.

On Wednesday, Captain Bitcoin commented on a thread of tweets originally created by another Twitter user who allegedly sold one of his own apartments to buy crypto. While the twitter user; Eljaboom didn’t exactly mention any particular cryptocurrency, he had started the thread to inquire of his followers on what they sell to buy crypto?

Source:twitter
Source: twitter

Captain Bitcoin simply replied by saying “Sold my house.” This comment instigated instantaneous reactions from fellow Twitter users who demanded more clarifications. As a matter of clarity, Captain Bitcoin later tweeted that he had sold 800 BTC in 2015 to buy a house for his family and then sold back the same house 3 years later, in 2018 in order to invest in bitcoin again. Unfortunately, he was only able to buy back 50 BTC with the money derived from the sale of his house. According to Captain Bitcoin,

In 2015 I sold 800 BTC to buy a house for my family.

In 2018 I sold my house and bought back 50 BTC.

People who thinks I’m crazy for selling my house please know that my only regret is to have sold my bitcoins.

Investment in Real Estate is now garbage comparing to #Bitcoin.

Investment in Bitcoin has proven to be one of the most profitable within the last decade, giving the highest Returns On Investment (ROI) which is immeasurably higher than what any asset has recorded within the same period.

Bitcoin Outperforms Real Estate Investments

Analytically, bitcoin was trading at an average price of $200 between June and August of 2013 and 800 BTC would have been $160,000 which was fairly enough to afford a family house at the time. Three years later, investment in bitcoin sufficiently outperformed that of real estate as 800 BTC as at August of 2018 was around $4.8 million, representing a staggering 3000% ROI. However, real estate within the same period of time only produced 187.5% ROI as the house would have been worth $300,000 assuming all the money from the sale was invested in bitcoin.

Bitcoin As A Safe Haven

Speculations around bitcoin as a safe haven investment are flying about and everyone has caught the FOMO (Fear Of Missing Out) fever. Analysts believe that bitcoin price will soar higher within the next few years and according to John McAfee, a $1 million per bitcoin is unshakable.

Summary
Man Sells 800 BTC To Buy A House, Then Sells The Same House To Buy Back 50 BTC 3 Years Later
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Man Sells 800 BTC To Buy A House, Then Sells The Same House To Buy Back 50 BTC 3 Years Later
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Real estate has been one of the asset class that produces a high ROI. However, this traditional money making machine as fallen short of its competition from bitcoin...
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Author: Dare Shonubi

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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Dare Shonubi 229 Articles

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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