MIles, a 37-year-old NHS doctor from London, has been trying to convince friends to buy cryptocurrencies for years. In recent weeks, the “Trump pump” on crypto prices has made them envious. “They watched in frustration as my gamble paid off,” he says.
Despite cashing out around £600,000 to buy a house earlier this year, Miles’ crypto portfolio is now worth £2.3 million. Miles, who invested £4,000 in Bitcoin in 2012, said: ‘It’s defined my life. My pot fluctuates by hundreds of thousands every day and I’ve been through periods of volatility over the years.” he says.
A number of Miles told the Guardian why they became private investors in cryptocurrencies (regular people who buy digital blockchain currencies) and how their investments have paid off over time. I was one of ten people.
Investors see Donald Trump’s return to the White House as a harbinger of a crypto-friendly climate. Photo: Mark Humphrey/AP
Bitcoin’s price has fallen to $97,000 (76,500 sterling) and hit a new all-time high. The Financial Conduct Authority (FCA) has revealed that 12% of UK adults own cryptocurrencies.
The majority of respondents said they entered the crypto market within the past four years, with some using the extra funds they saved during the coronavirus lockdown to jumpstart their previous blockchain currency acquisition process. Some people also purchased coins via user-friendly apps and platforms.
The responses also reflect a growing trend of interest in professions such as education, banking, nursing, and IT investment. “Tech Brothers” are historically associated with the world of cryptocurrencies. argued that such investments were the best or only option for building meaningful personal wealth.
A large number of middle-class respondents lost faith in the existing system and turned to cryptocurrencies in the hope that it would help them achieve life goals such as having children, buying a home, and traveling. He said that he aimed at
Julian, a 57-year-old draftsman, homeowner, and father of four from Nottingham, was one of several respondents who said they bought Bitcoin in anticipation of a spike in inflation.
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Source: www.theguardian.com
