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Many late Bitcoin users often bemoan the fact that they missed the opportunity to buy coins when the price was below 1000, 100 or even $ 1. However, a Redditor says his own situation is even worse as he is forced to compare his “dumb” decision to invest in silver with his twin brother’s much wiser decision to back Bitcoin.
The story – which may be apocryphal given the source is a disposable account named “TheDumbTwin” – claims the two brothers each received a $ 100,000 inheritance in 2013, but took drastically different financial paths.
“I was a money bug, and I argued that silver was, at IMO, the best alternative investment to stocks and bonds,” the Redditor said.
“He had just learned of the existence of Bitcoin and was adamant that the return could be exponential. I had argued vehemently against Bitcoin, claiming that it was pure speculation and that it would be a total waste of money.
TheDumbTwin claimed that despite his protests, his brother invested around $ 50,000 in Bitcoin (BTC) while the price was $ 100 (the crypto asset remained below $ 200 until the end of October 2013), which means he may have bought around 500 BTC. With Bitcoin recently breaking the 2017 high (old), coins are worth around $ 9.6 million today.
The twin claims his brother’s investments are now valued at over $ 10 million, while the $ 30,000 he chose to put in cash has dropped to $ 26,000. In January 2013, silver was worth over $ 30 an ounce, while today the precious metal is around $ 24 an ounce.
“His wealth in Bitcoin alone is over 100 times my total net worth,” he said.
“He had just learned of the existence of Bitcoin and was adamant that the return could be exponential. I had argued vehemently against Bitcoin, claiming that it was pure speculation and that it would be a total waste of money.
While the story cannot be independently verified, the concept of missed opportunities is a familiar concept to Bitcoiners, given that the crypto asset is at a strike distance of $ 20,000 for the first time in three years. . The editors were quick to offer their thoughts and advice:
“Almost every day of your life, you miss out on an investment opportunity that could potentially net you millions,” Jackgundy said.
“Never put all of your eggs in one basket,” spatialsilver88 said. “You didn’t have to choose between money and crypto. You could have done both. “
Unlike well-known twins in the crypto space like Tyler and Cameron Winklevoss whose wealth seems to have grown in tandem given that they founded Gemini together, the ‘stupid’ twin claims he ‘can’t get over the overwhelming thought. Of why he didn’t go down the same financial path as his brother.
“I try to be thankful for what I have, and I try to be thankful because I know that many other people in the world are much worse,” he said. “But I don’t know if I’ll ever get over it.
Redditor folkwoodswest, summed it up best with a quote attributed to US President Theodore Roosevelt:
“Comparison is the thief of joy.”
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