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23-year-old Australian purchases $314k residential or commercial property by means of prepared crypto financial investments


A young local from Queensland, Australia, played the long video game of building up Bitcoin (BTC) and Ether (ETH) over numerous years to ultimately conquer the skyrocketing property rates throughout the 2020 bull run and own his dream house.

The 23-year-old Loi Nguyen began his journey as a financier back in 2017 by acquiring a couple of hundred dollars worth of BTC, ETH and standard stocks. However, his interest in crypto reached brand-new heights while pursuing an Economics degree:

“Crypto came back into my life when I did a course at the uni on inflation. I learned that Bitcoin can be disinflationary.”

Speaking to news.com.au, Nguyen revealed that the lower rate of interest (less than 0.5%) used by standard banks might never ever assist him get into the property market. By following a dollar-cost averaging (DCA) financial investment technique, the young financier continued to diversify his portfolio into cryptocurrencies in the middle of the short-lived bearishness of 2018:

“I recognize I took on a lot of risks. I wanted to protect my purchasing power, protect my current savings, make sure my money didn’t dwindle away.”

Loi Nguyen as a university student, making organized crypto financial investments. Source: news.com.au

As standard markets collapsed throughout the start of the COVID-19 pandemic, Nguyen’s crypto financial investments grew out of the worth of his stock portfolio. This was when his financial investment focus moved far from standard markets even more into cryptocurrencies — ultimately building up 1 BTC over numerous months. 

With the intent to acquire property, Nguyen squandered his crypto financial investments throughout November-December 2021, a timeline when BTC reached an all-time high of $69,000. In overall, the young Aussie offered less than half of his crypto portfolio, leaving him around $31,400 (43,000 Australian dollars) to reveal the bank as a part of the downpayment.

Nguyen’s brand-new one-bedroom home in Brisbane, Australia. Source: news.com.au

Nguyen acquired a one-bedroom home in Brisbane, which was priced at $314,000 ($430,000 Australian dollars) and needed around $62,735 ($86,000 Australian dollars) as a downpayment. “About half of that was made up of crypto,” Nguyen included.

After ending up high school, Nguyen worked full-time for a year as a bank teller however paid a low income of approximately $20,400. “I’m doing a lot better now,” he concluded.

Related: Aussie advisory committee lists crucial aspects for reducing crypto adoption

Australian cybersecurity advisor, the Cyber Security Industry Advisory Committee, just recently highlighted many crypto-specific chances.

As Cointelegraph reported, the research study entitled Exploring Cryptocurrencies underpins the requirement for a regulative setting for achieving higher clearness and self-confidence concerning cryptocurrencies for the Australian market.

The federal advisery advises the expedition of 4 crucial locations that can “help ensure the safe adoption of cryptocurrencies in Australia,” which are minimum cybersecurity requirements, ability (awareness through specialized training) and the follow-the-lead technique and operator openness.