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Dutch Family Goes All In on Bitcoin: Sells Business and Property to Invest

Dutch Family Goes All In on Bitcoin: Sells Business and Property to Invest

Dutch Family Goes All In on Bitcoin: Sells Business and Property to Invest

Didi Taihuttu and his family in the Netherlands have sold nearly all of their possessions including their businesses, properties, and assets to invest in Bitcoin.

"We are putting everything into bitcoin, we've sold everything to invest in this currency. It's the currency of the future. We are taking part in a revolution, or an evolution of the monetary system. By 2020 the bitcoin will probably be worth 25,000 euros [$40,000],” Taihuttu told AFP.

For decades, Taihuttu has dedicated the majority of his career in Information Technology (IT) development, providing solutions and applications for enterprises and corporations. Up until last week, Taihuttu operated a company of 16 employees, which he recently sold to invest his life savings in Bitcoin.

Earlier this month, Bitcoin and security expert Andreas Antonopoulos, one of the most highly regarded analysts in the cryptocurrency sector, revealed that most of this small savings have also been invested in Bitcoin. But, Antonopoulos cautioned investors to only invest a portion of their wealth which is equivalent to the percentage of their understanding of Bitcoin.

“What percentage of your wealth should be tied up in bitcoin? A percentage that is equivalent to your understanding of how the technology works and your ability to absorb the risks it entails, which for most people is a small percentage,” said Antonopoulos.

He emphasized that he has invested his savings in Bitcoin because he has dedicated most of his career and intellectual capacity in studying and offering services around Bitcoin. For many years, Antonopoulos has served Blockchain, the second largest Bitcoin wallet platform in the global market as an executive, and has provided presentations, lectures, and talks in regards to Bitcoin and the cryptocurrency market at various conferences, events, and meetups.

Hence, Antonopoulos emphasized that it is reasonable for him to invest most of his savings in Bitcoin, as he has invested a larger part of his life into Bitcoin and cryptocurrencies.

"My small savings that I do have are invested in bitcoin. 100 percent [of it]. I actually have a tiny debt in US dollars that I'm still trying to pay off so it is more than 100 percent in bitcoin. Now, I'd like to emphasize again, that is not a recommendation to invest. Because I haven't invested by money in bitcoin, I invested my career, my intellectual capacity, my creativity energy, my passion, and my work in bitcoin. The money is the least of the investment that I have made in bitcoin and I could lose everything of it and I'd still have everything else,” Antonopoulos added.

As an IT expert, Taihuttulikely has a solid fundamental understanding of Bitcoin and the structure of cryptocurrencies. But, his investment method should not be recommended to everyone in the market, as Antonopoulos emphasized. Investors should only invest an amount that is proportional to their knowledge, understanding and expertise in Bitcoin, and create a balanced portfolio using such indicator as the basis.

In the upcoming months, Taihuttu and his family intend to invest all of the money they obtain from the sale of their properties, including their current house.

Author : Joseph Young

Joseph Young is a finance and tech journalist based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering exclusive content, interviews, insights and analysis of cryptocurrencies, innovative and futuristic technologies.

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