In the words of a renowned philosopher (talking about myself),
“For bringing about a revolution, you need to have a tinge of irrational exuberance”Tweet
Yes. A corollary of this would be what Steve Jobs used to say: “People who are crazy enough to think that they can change the world, are the ones who actually do”. After all, where would you draw the line? Insanity highly subjective right? But why am I suddenly exhibiting my philosophical side today? Isn’t this a crypto related post as usual? Well, it is. But it’s equally crazy this time around. I am going to talk about a family of four, famously known as “The Bitcoin Family”. Why crazy? Well, you are about to find out shortly.
But before we delve deeper into this unique family story (no Alabama stuff), I wanted to ask something to you. What extent would you go for your conviction? Let me give you a framework to think about it. Imagine a company that is very close to your heart. You use it’s products like a staunch loyalist. Luckily, that company makes a lot of business sense as well. So you evaluate and find out that this company has great future prospects. With financial, emotional and personal attachment with the brand, how much would you be willing to bet on it’s future? Say it’s a publicly listed entity. What percentage of your portfolio would you be able to put in that single stock?
If you still haven’t figured it out. The Bitcoin Family might give you a perspective.
What is Bitcoin Family?
Back in 2018, a man named Didi Taihuttu, his wife and three kids encountered a similar situation. But instead of complicating it much, he went all in. Yes. You read it right. He sold whatever he had and bet big time on Bitcoin. The Dutch family of five gave everything from their profitable business, 2500sq.ft. house to their shoes and put it in Bitcoin.
The Bitcoin was trading at a humble $900 when he purchased it. Let’s explore what triggered this seemingly irrational decision.
The Story Behind the Bitcoin Family:
Didi Taihuttu ran a small business where he trained kids on software development. Much like his dad, he was a workaholic. One fine day, he got an unfortunate call from the hospital saying that his dad had met with an accident and wasn’t around any more. At that point he found flaws in his father’s workaholism and money minded approach to life. That’s when he decided to let everything go and resort to a minimalistic lifestyle. He sold off his company and his home. Took a small cozy cottage, 20 miles from his current place in the middle of woods.
As per an interview, he and his family think of it as a movement and not just betting on something really big like bitcoin.
“It’s more than Bitcoin. It’s about the life I wanted for myself.”
What Happened Next?
Even a die hard evangelist like me won’t suggest investing more than 5-10% of your portfolio in cryptocurrency. So, it is understandable that we delve deeper into what happened next to Didi’s life long investments.
Turns out, within a month after Didi went all in, Bitcoin reached it’s all time high of $19,000. That’s a whopping profit for someone who has nothing but Bitcoin.
Didi instantly became a media sensation and started to make a living by giving lectures on blockchain and Bitcoin. He was a celebrated personality amongst the community and inspiration for HODLers across the world. I can very well imagine the epitome of confirmation bias playing it’s role when someone like him is talking about Bitcoin.
But then, as lousy medium of exchange Bitcoin is, it crashed in a few months later to settle down at $6,000. At that point, everyone thought that Didi must be doing terribly but he rather doubled down on his investment.
After his first public appearance post crash, he was found chilling in a hostel at Koh Samui island in Thailand for the past four months. He mentioned that he has lost about $500K since the crash. But he used this as an opportunity to buy more Bitcoin as he was hell bent on the fact that BTC will recover.
Soon enough he decided to leverage the brand “The Bitcoin Family” and tied up with a company that worked around Bitcoin (Blockchain) marketing. They got a sponsored RV and decided to live a life on roads. As a matter of fact, they registered themselves as homeless people in Holland.
Where is the Bitcoin Family Today?
After being covered by CNBC, Vice, WSJ, Bitcoin.com, I think your brand has a significant eyeballs. I won’t be able to tell for sure what Bitcoin family is up to these days, but Didi is definitely running a YouTube Channel. The channel is quite active with latest video uploaded about 3 hours ago (since I am writing this). The channel also has about 57K subscribers.
Location on the official channel says Netherlands and you can read the channel description below:
My Family and I, Didi Taihuttu, sold all our belongings inclusive our house to invest in Bitcoin and live our dream. We travel the world with a family of 5 and support Bitcoin to the fullest. Ofcourse we love other cultures, their food, beaches, sunsets and all other beautiful things the world has to offer. Our channnel will be a combo of videos about our life and some informational videos about Bitcoin, other crypto and blockchain.
Time to rethink. Would you even bet on yourself the way Didi and his family bet on Bitcoin? I won’t comment further on the sanity of his move, but as I write this article, BTC is at $46,000. So, no matter how irrational, this investment has paid off for Didi big time.
What is your next move now?
Got questions? Want to take it to the next level? Reach out to me using your preferred platform from the links below
Until next time..
Psst.. Struggling to save money?
I just managed to save Rs. 10,000 by investing my ‘Chillar (Change)’ in mutual funds. Investing amounts like Rs. 5, 8, 25, 45.. and 4 months later, Boom! I have 10 grand to spare. Interested in knowing how I did it? Read more here.
For our beloved “non readers”, I also do quick carousels on these topics over Instagram. Come join the fun. Hit me up here.