Cryptocurrencies

Bitcoiner sells his bag to pay off his parents’ mortgage – Cryptocurrencies

buy bitcoin to pay mortgage debt

Bitcoin HODler (BTC), but until when and to do what? A few BTC are now enough to buy a luxury car. The wisest will continue to keep their Bitcoins for retirement. This repeater chose to get rid of his Bitcoins to help his parents.

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Bitcoin to recover from covid-19

On January 7, 2021, the community Bitcoin of Reddit discover the story ofu / Bigtony96 which sold all of its Bitcoins to pay off his parents’ mortgage.

This user would have managed to accumulate 6 BTC over the past 3 years and chose to get rid of it to pay off their debt.

He indicates that the balance obtained is sufficient to cover the payment of taxes and, possibly, for the purchase of a new car.

He explained that his parents, who owned a restaurant, had been severely affected by the pandemic.

This sector is one of the most affected by containment measures. The economic recession forced them to use up a large part of their savings.

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BTC bulls are not here for fun

Although Bigtony96 did not specify when he proceeded to the sale of his Bitcoins, the sale probably took place on January 7, 2021, when Bitcoin exceeded the threshold of 40,000 USD.

It took less than a month for the bulls to multiply the price of BTC by 2, from $ 20,000 to $ 40,000.

In December 2020, another editor revealed that he had successfully raised $ 24,000 in BTC thanks to jokes and the native token of Reddit, Moon.

The BTC touched 42,000 USD on January 8, 2021. By exceeding 41,000 USD, the market cap of BTC exceeded that of Facebook.

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What will fiat savings be worth at the end of 2021? Bitcoin will be there to repair the damage caused by banknotes that have gone empty. U / Bigtony96’s parents were lucky enough to have a bitcoiner son. Institutional investors who have chosen Bitcoin as a hedging instrument have understood the strength of the safety net that BTC represents in times of crisis. Bitcoin is a friend of hard times: and when all is well, then is BTC a bad company – we prefer to look to the dollar and the euro ?

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