Bitcoin Trader reaped $ 3 million bounty which is now halved

A crypto trader said he bought his Rolex watch for $ 8,200 to buy cryptocurrency and is now worth a little more than $ 1.18 million – but admits that the crashed market has halved his fortune.

Kain Roomes, 29, first invested in Bitcoin in March 2018 after his father encouraged him to take a closer look at crypto.

Roomes, who was then a part-time model, was behind the mortgage, had significant debt and no disposable income, he said.

He decided to sell his $ 8,200 Rolex he had received as a 22-year gift years earlier to finance his first investment.

Roomes bought various cryptocurrencies and studied the market, learning about the best times and places to invest, he said.

And in 18 months, Cain had earned over $ 100,000 just by investing alone, he said.

After gradually building its investments, the portfolio reached its highest value ever at over $ 3.3 million in May 2021.

A major crash in the market in March 2022 cut his fortune by more than half, but it now stands at $ 1,265,366.10.

He has also traveled the world and vacationed in luxurious places such as Dubai, Maldives and Jamaica.

Roomes, who hails from north London, England, said: “With my father’s help I did research and made sure I invested in a good coin.

“This led me to put 50,000 of my first 100,000 in a first coin offering (ICO) and reinvest the profits in Zilliqa – a thriving cryptocurrency.

“It was nerve-wracking to make such a big game, but I managed to expand my portfolio twenty times from one investment.

“I suffered a lot after the crash, but I have full faith in crypto.

“I have experienced ups and downs while shopping, and there have been times when I thought I was not going to recover.

“At one point, I opened my trading account and 90 percent of my portfolio was gone.

“My dad has always been there for me when I went through tough times with it – he has been a mentor throughout my experience with crypto.

“Cryptocurrency is an extremely risky game, but if you take the right precautions you can make progress.

“I want to inspire others to get into crypto and change their lives the way I changed mine.”

Now Roomes focuses his efforts on writing his first book, and describes some of his struggles and gives advice to those who are looking to get into crypto.

He said he wants to give hope to other people and succeed in the crypto market.

“I want to stay involved in crypto and earn as much as I can on it,” he said.

“Since the initial investment, I have only reinvested profits to get to where I am today.

“I’ve seen so much success from it, so why should I just walk away now.

“I’m careful about my consumption – I do not own a car or fancy clothes.

“I have made a profit to enjoy nice holidays with my family, but that’s the extent of it – just because I’m a millionaire, I do not want to waste what I have earned.

“Since the crash in March, there have been other cases where I have suffered some significant losses.

“But I’m sure the market will come back – as it always does.”

Produced in collaboration with SWNS.

This story was provided to Newsweek by Zenger News.