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Reddit user claims to have invested ‘entire retirement and savings’ in Bitcoin

April 5th, 2013 at 12:15 PM
Bitcoin Retirement Investment

Do skyrocketing Bitcoin prices mean that the virtual currency is in the midst of a speculative bubble? Don’t tell that to Reddit user anon_bitcoin_gambler, who claims to have invested his “entire retirement and savings” in Bitcoin. The user, who has so far refused to reveal his identity, says that he is “quite poor” at the moment but has “good credit” that has allowed him to receive “over $30,000 USD in credit card 0% balance transfer cash” that he has “slowly been investing in bitcoin for the past two months.”

With Bitcoin prices surging lately, the gamble has paid off so far since the user has seen roughly a nine-fold return on his investment and some of his fellow Reddit users have started urging him to pull out his money to hedge against a potential price collapse.

But the anonymous Bitcoin investor claims that he’s in it for the long haul because he thinks that “the projects surrounding bitcoin right now are revolutionary.” He does acknowledge the risk of losing money, however, and says that he’s willing to take that chance if it means advancing the goals of Bitcoin.

“Perhaps I will go to my grave in debt,” he writes. “Perhaps not. That is part of the fun of this little experiment.”

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