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My Bitcoin ‘investment’: After exactly six months, how much did I gain or lose?

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2022 hasn’t exactly been a banner year for cryptocurrency. Everything from Bitcoin to Ether has had worth vanish into, effectively, the ether. So, in fact, 2022 was the yr I made my large “investment” into Bitcoin.

Okay, superb. It was extra of a stunt funding than an actual one. Towards the tip of 2021, PayPal introduced it was going to offer a Bitcoin pockets. You might switch your PayPal funds to Bitcoin. I couldn’t resist.

So, on January 1, 2022, I bought a whopping $50 worth of Bitcoin. As I documented, it was not a easy course of. There have been charges, and Bitcoin’s vaunted anonymity went out the window with the intention to meet PayPal’s verification necessities. But even so, I went via all of it. Dear Reader, I did it for you.

But that is okay as a result of I was gonna turn out to be crypto-rich. Not actually. After all, fifty bucks can solely develop so much. In my case, it grew -14% in every week. Yeah, it lost value.

After three weeks, I was down 28.11%. And that is the final time I up to date you on how that funding has carried out.

As of in the present day, we’re exactly six months into my foray to bootstrap my technique to Bitcoin billions. So how am I doing? It. Is. Not. Pretty.

crypto-on-paypal-2022-07-01-00-06-57

Yep, I’m 60.31% under the place I began. Now, to be honest, I’ve solely misplaced $30.85. And that is superb for me as a result of I’m getting various good article content material out of this, which was my intent. I’ll do one other article on the finish of 2022.

But what if I had been a severe investor with visions of crypto capitalism careening via my skull? If I had invested $500 as an alternative of $50, I would have misplaced $300. If I’d invested $5,000 as an alternative of $50, I’d have misplaced $3,000. And if I’d invested $50,000 as a result of I needed to see large returns, I’d have misplaced a “mind bottling” $30,000!

So, yeah. Bitcoin. Yay?

Also: Let me be blunt: Don’t buy crypto unless you’re fully prepared to lose your shirt

Look, it might all flip round on a dime. After all, Bitcoin is imaginary faux cash that is simply bits in a blockchain. But as I talked about again in January, I would not suggest betting your bucks on Bitcoin (or every other cryptocurrency, for that matter) — unless you’re okay with losing your shirt.

Seriously, this can be a risky gamble. If you are snug playing and you understand exactly what you are in for, that is one factor. But you might want to be ready, keen, and capable of lose your complete funding. If you are not capable of take the hit, do not take the possibility.

And, except there’s some actually thrilling Bitcoin information between at times, I’ll see you proper after New Year’s with my closing tally on this 2022 funding experiment.

Live lengthy. And prosper.

So, what about you? Have you made any crypto investments? Have I inspired or dissuaded you? Let us know your ideas within the feedback under.


You can comply with my day-to-day mission updates on social media. Be certain to comply with me on Twitter at @DavidGewirtz, on Facebook at Facebook.com/DavidGewirtz, on Instagram at Instagram.com/DavidGewirtz, and on YouTube at YouTube.com/DavidGewirtzTV.



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