- Nguyen cashed out his crypto assets in November-December 2021.
- The crypto investments of Nguyen surpassed the value of his stock portfolio.
For a young Australian from Queensland, the lengthy game of collecting Bitcoin (BTC) and Ethereum (ETH) ultimately paid off, and he now has his ideal house, thanks to the rising real estate values of 2020. Back in 2017, when Loi Nguyen was only 23, he bought a few hundred dollars worth of BTC, ETH, and conventional equities to begin his investment career. While earning an economics degree, he developed a newfound interest in cryptography.
“Crypto came back into my life when I did a course at the uni on inflation. I learned that Bitcoin can be disinflationary.”
According to Nguyen, the low borrowing rates (less than 0.5 percent) given by conventional banks would never enable him to get into the real estate market. As a result, the crypto investments of Nguyen surpassed the value of his stock portfolio while conventional markets fell with the outbreak of covid-19. This was the point at which his investing concentration shifted from conventional markets to cryptocurrencies, ultimately amassing 1 BTC over many months.
$314K Property in Brisbane
Nguyen cashed out his crypto assets in November-December 2021, a period when BTC hit an all-time high of $69,000 to purchase real estate. As a part of the down payment, the young Australian liquidated less than half of his cryptocurrency holdings, leaving him with around $31,400 (43,000 Australian dollars).
As a down payment, Nguyen paid roughly $62,735 ($86,000 Australian dollars) for a one-bedroom flat in Brisbane, which cost $314,000 ($430,000 Australian dollars). “About half of that was made up of crypto,” Nguyen further added. After graduating from high school, Nguyen worked as a bank teller full-time for a year, earning a modest $20,400. But, he said, “I’m doing a lot better now.”