Redditor’s Bold Move: Sees 25% Surge as $59K Personal Loan Fuels BTC Investment

Redditor’s Bold BTC Investment Strategy

A Redditor and member of the r/CryptoCurrency community claims to be up 25% or $19,500 after taking out three personal loans worth a combined $59,000 to buy Bitcoin (BTC).

Current Market Status

Ticker: $31,026

Over the past 18 months, the Redditor, who goes by the handle r/Vaginosis-Psychosis, has successfully accumulated a total of 2.65 BTC, which is currently valued at $80,400. They are now placing a significant bet on the price of BTC hitting $100,000 by early 2025.

Approach to BTC Investment

In a June 30 post on r/CryptoCurrency, the user provided insights into their unconventional method of acquiring BTC through personal loans.

Loan Details

• February 2022: $15,000 loan with a fixed annual percentage rate (APR) of 6% and monthly payments of $225.
• June 2022: $20,000 loan with a fixed APR of 4.9% and monthly payments of $326.
• June 2023: $24,000 loan with a fixed APR of 8% and monthly payments of $405.

So far, the Redditor claims to have already paid off the $15,000 loan in May and reduced the second loan by $3,500. Their current focus is on paying down the most recent loan, as it carries the highest APR.

Factoring in interest paid, the average price at which they have accumulated BTC stands at $24,000 or $22,264 when not including interest.

Justification for the Risky Strategy

“The way I see it, the US dollar is rapidly declining in value and prestige. Therefore, I will take out loans to buy Bitcoin and pay back said loans with inflated dollars that I earn from my job.”

“I don’t expect Bitcoin to be trading in this range 18 months from now. I expect BTC to be ~$100K per coin by then, so I’ll bite the bull of a short-term high APR for the long-term exponential price appreciation of Bitcoin,” they added.

The post has garnered more than 500 comments at the time of writing, with a mix of support and cautionary advice from other members of the community.

“Taking [a] loan for crypto investing sounds like a horror story to me,” commented user r/middlemangv, receiving 457 upvotes.

“Because it is. This is survivorship bias at its finest, also OP took a calculated risk, most won’t,” added r/NotAdoctor_but.