How I made a 6,983% return from Bitcoin completely on accident! LOL! This is a true story!
So just for the record, I am NOT a fan of cryptocurrencies. I am not going to get into why in this post, but I am just not a believer.
With that said, back in 2015 I decided I was going to do a little speculating with Bitcoin just for the hell of it. It had seen some rapid price swings in both directions and I thought it was just bottoming out and would likely take a sharp rise in the near future.
I set up a Coinable account and downloaded the app on my phone. I then made a $1,000 purchase of Bitcoin, which at the time got me 4.9 Bitcoin (crazy right?). Well, just a week later Bitcoin had risen from about $200 per coin, to about $355 per coin.
When I saw this rapid gain in such a short period of time, I sold right away and took a profit of about $775. This was a 77.5% return on my original investment in just 1 week! This was exactly the type of gain I was looking for so I pulled the trigger and sold.
So at this point, I was very happy with my gain and I told myself that I was done with cryptocurrencies for good- the volatility was just a little too rich for my blood… it was complete gambling. In my mind I had basically made a quick profit at the roulette table and I wasn’t going to let the house have another chance to get their money back. I was taking my profit and running with it for good.
Fast forward 2 years later. Bitcoin is hitting new all time highs around $17,000. I am still completely convinced that Bitcoin has no intrinsic value and it is in a complete and utter bubble! Of course I have the typical regret of “man if I wouldn’t have sold my 4.9 Bitcoin I would have over $83,000 right now.” But to be honest, I know I wouldn’t have held on that long anyway… I would have sold long ago many times over… so who really cares.
While I was lying in bed trying to go to sleep the other night, for some reason I had the strangest prompting to log into my Coinbase account. I hadn’t logged in since I sold my Bitcoin back in November 2015… it had never occurred to me to log in because I had no Bitcoin left and I never planned on buying more. Anyway, for some reason I just decided to log in. To my complete astonishment, this is what I saw:
I had 0.06 Bitcoin in my account that was worth $1,083! Woohoo! Where the heck did it come from? I never bought any more Bitcoin after I sold in 2015.
At first I couldn’t figure out how it had gotten there.. but then when I looked back in the transaction history, I had originally purchased 4.95 Bitcoin, and when I sold a week later I sold 4.89 Bitcoin… leaving 0.06 Bitcoin (at the time worth only about $15) in my account.
Don’t ask me why this happened because I have no clue… somehow I accidentally did not sell 100% of my Bitcoin and left $15 worth when I decided to cash in my chips in November 2015.
So anyway, that $15 that was left in my account and forgotten about, 2 years later was now worth $1,083… a whopping 6,983% return…. completely on accident! It’s too bad I didn’t accidentally leave behind and forget about an entire 1.0 Bitcoin 😉
***PLEASE BE CAREFUL WHEN INVESTING/SPECULATING IN BITCOIN AND OTHER CRYPTOCURRENCIES. I PERSONALLY DO NOT BELIEVE IT IS A GOOD IDEA AT ALL AND HAVE STAYED AWAY FROM IT SINCE MY ONE SPECULATION BACK IN 2015… BUT PLEASE, IF YOU ARE GOING TO PARTICIPATE IN THESE MARKETS, AT LEAST DO YOUR OWN RESEARCH BEFORE JUMPING INTO CRYPTOCURRENCIES.