Post
Topic
Board Bitcoin Discussion
Re: Today is the story of my investment in Bitcoin
by
Ale88
on 06/04/2023, 18:50:55 UTC
I decided yesterday morning that I would buy 1 bitcoin from this dip market. But I did not have enough money.  With which I can buy 1 bitcoin. I had an Fixt Deposit of $ 6,000 in the central bank. And the bank would paying interest at the rate of 5.5% APR. I broke it down yesterday and decided to buy Bitcoin with that money. But with this money I will not be able to buy 1 bitcoin.  On the other hand, my dream and desire is to buy 1 bitcoin. I then decided to take a loan and applied to the bank for a loan. But I told the bank that I would use this money for business. The bank agreed to give me a loan of $10,000 at 10% APR interest. I take advantage of that opportunity and take out a loan. And the remaining $ 4,000 I borrowed from my uncle and promised to pay him 8% APR interest, which is more then bank interest. Finally i bought just now 1 BTC price at $20,000. It gives me a different feeling That feeling I have never had before. I think if I hold this bitcoin for 2 years I can get 100% -500% profit. Then I will be able to easily repay my debtors with an average interest of 18-19% in 2 years as an average of 9.something% APR and I will be able to keep a huge profit.
I strongly believe bitcoin has a great future ahead but, as others have already pointed out, what you did is extremely risky and frankly I would never do it. If you can't afford to buy a whole bitcoin right now you can simply buy a little every month, getting a loan with 10% interest to buy such a volatile asset like bitcoin is a huge risk, everything could happen. I wish you the best of course.