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A 39-year-old father of three reportedly sold his house for 85 Bitcoin and moved his entire family into a campground. The Netherlands resident, Didi Taihuttu, and his wife are selling many other belongings as well, downsizing their material possessions to just the necessities.
Taihuttu says he is taking those funds and investing them, throwing everything he owns into different virtual currencies. He is now living a minimalist lifestyle in a campground with his wife and three daughters, while they wait for the next cryptocurrency boom.
Gambling on the Future of Bitcoin
Apart from his house, Taihuttu also put his motorcycle, car, his children’s toys and other family belongings up for sale. With all the earnings, he is buying up more and more cryptocurrencies like bitcoin – hoping that they massively appreciate in value over time.
He told Business Insider that he already knew people would tell him he’s crazy to make a decision like this.
“But we are an adventurous family and are going to gamble for a moment to live minimalist lives,” he said. “If you never take a risk, life is boring.”
Taihuttu thinks that everyone will wish they had made such a gamble “in five years’ time.”
Betting on Cryptocurrency Again
The family man had already dabbled in cryptocurrency. He worked with a partner to put together a physical business that mined bitcoin some years ago.
Back in 2013, the value of Bitcoin had ballooned to hundreds of euros. Taihuttu sold every coin he owned – thinking that he had to sell quickly before the price dropped. Since then, the value of Bitcoin has exploded.
“If I had known then that four years later it would have been ten times more valuable, then of course I wouldn’t have sold everything,” he says. “But then I thought: I have to make a profit.”
Afterward selling off his bitcoin, he made an investment in Dogecoin – and built up a stock of the virtual currency worth roughly 200 euros. He hadn’t put much hope into those coins. Then, while traveling, someone suggested he check his cryptocurrency portfolio, and he realized that it had skyrocketed to 20 times its previous value.
“That Dogecoin made me realise again: There is something going on in the world,” the investor added.
Only time will tell if a similar windfall will hit Mr. Taihuttu again. Hopefully his massive gamble pays off for him and his family.