One woman shared on Elle how Bitcoin helped her buy a new house in unusual ways. After receiving 0.5 bitcoins from her ex-boyfriend in 2016, she had forgotten about it until this year’s rally. When looking for a home to buy, she pulled out most of the BTC to buy a better home and do some renovation.
When Bitcoin climbed to $ 40,000 in the first half of 2021, it faced a dilemma: to sell or not to sell. Her brother told her, “Don’t touch it,” but two financial planners told her to sell because she wanted to buy a house. Eventually she withdrew $ 18,000 for fear of losing her newfound money. Bitcoin, given to her by her fraudulent ex-boyfriend, allowed her to buy a better house than she otherwise could have and helped her with some repainting and furniture for her new apartment.
However, the considerable opportunity costs that it imposed with an embargo cannot be dismissed out of hand. Perhaps by getting to know Bitcoin and its unique properties better, she would have her stack HODLed, a stack that could one day completely change her life. In a high time preference enforced by “financial planners”, this woman could have lost a once-in-a-lifetime opportunity to participate in the upcoming greatest financial revolution of all time – not to mention capital gains taxes that could have been avoided.
If she wanted the best of both worlds – get the $ 18,000 but not lose the Bitcoin, she could have opted for a Bitcoin-backed loan, for example. By lending some of her bitcoins for cash, she would buy the house and eventually get the BTC back through a withdrawal. Or, if Bitcoin learning had gone to great lengths, she probably would have given up the house idea entirely and bought even more Bitcoin.