My Bitcoin ‘investment’: After exactly six months, how much did I gain or lose?

2022 has not exactly been a banner year for cryptocurrency. Everything from Bitcoin to Ether has had value disappearing into, well, the ether. So of course, 2022 was the year I made my big “investment” in Bitcoin.

OK nice. It was more of a stunt investment than a real one. Towards the end of 2021, PayPal announced that it would offer a Bitcoin wallet. You can transfer PayPal funds to Bitcoin. I could not resist.

So on January 1, 2022, I bought Bitcoin worth $ 50. As I documented, it was not a smooth process. There were fees, and Bitcoin’s notorious anonymity went out the window to meet PayPal’s verification requirements. But still, I went through everything. Dear reader, I did it for you.

But that’s okay because I’m going to be cryptic. Not really. After all, fifty bucks can only grow that much. In my case, it grew -14% in one week. Yes, it lost value.

After three weeks I was down 28.11%. And that’s the last time I updated you on how that investment has performed.

As of today, we are exactly six months into my attempt to start me up to Bitcoin billion. So how do I feel? It. Is. Not. Pretty.

Yep, I’m 60.31% below where I started. Now, to be fair, I just lost $ 30.85. And that’s fine with me because I’m getting pretty good article content out of this, which was my intention. I will be making another article at the end of 2022.

But what if I had been a serious investor with visions of cryptocurrency that broke through my skull? If I had invested $ 500 instead of $ 50, I would have lost $ 300. If I had invested $ 5000 instead of $ 50, I would have lost $ 3000. And if I had invested $ 50,000 because I wanted to see great returns, I would have lost a $ 30,000 “thought bottle”!

So yes. Bitcoin. Yep?

Also: Let me be straight: Do not buy crypto unless you are completely prepared to lose your shirt

See, it can all turn around for a penny. After all, Bitcoin is imaginary fake money that is just bits and pieces in a blockchain. But as I mentioned back in January, I would not recommend investing your money in Bitcoin (or any other cryptocurrency, for that matter) – unless you’re okay with losing your shirt.

Seriously, this is a fleeting game. If you are comfortable playing and you know exactly what you are talking about, there is one thing. But you must be prepared, willing and able to lose the entire investment. If you fail to take the blow, do not take the chance.

And unless there is some really exciting Bitcoin news between now and then, I will see you right after the New Year with my latest overview of this investment experiment in 2022.

Live long. And thrive.

So what about you? Have you made any crypto investments? Have I encouraged or discouraged you? Let us know your thoughts in the comments below.

You can follow my daily project updates on social media. Be sure to follow me on Twitter at @DavidGewirtzon Facebook at Facebook.com/DavidGewirtz, on Instagram at Instagram.com/DavidGewirtz and on YouTube at YouTube.com/DavidGewirtzTV.