07
Dez
2020

Gemini invested in Bitcoin in 2013 and profits more than brother who bet on silver

Brother has lost so much money that he can no longer go to places that the twin millionaire goes.

A twin who invested in Bitcoin outperformed his brother’s investment in silver. Like gold, the metal is used as capital protection by some investors.

The brothers‘ thinking differed in 2013, when both received an inheritance from their uncle, each had $100,000.

At the time, one of them was passionate about silver as an investment, believing in the long-term foundations of the metal. Thus, he bought $30,000 of silver, or almost 1/3 of his inheritance.

His brother, who had just learned about Bitcoin, bought U$ 50 thousand of the digital currency. With the price of Bitcoin Profit at the time at U$ 100 each, he would have bought 500 Bitcoins.

„My brother and I were talking about our different investments at the time and how we were going to invest our new money. During the last decade or more, I was a „silver bug“ and argued that silver was, IMO, the best investment alternative for stocks and bonds. He had just learned about Bitcoin and was convinced that the return could be exponential. I had argued vehemently against Bitcoin, saying it was pure speculation and would be a total waste of money,“ declared the twin investor of silver

The long-term result, however, ended up bringing even problems for the relationship of the brothers.

Gemini invests in Bitcoin, overcomes brother who believed in silver and becomes a millionaire

Think of yourself if you believed in a long-term investment, used for centuries, and your twin brother in a new digital technology. In 2013, this happened in a family, which had the future shaped by the choices of the past.

This is because the twin who believed in silver today bitterly regrets his decision. By investing in 2013 around U$ 30 thousand, he would have only U$ 26 thousand today. That is, over 7 years, he lost 13% in the period with the devaluation of silver.

His brother, who always earned well in his work, ended up buying 500 Bitcoins. Even over seven years and immense currency valuations, his twin never sold his coins.

„Well, he ended up investing about 50k in Bitcoin at that time (when Bitcoin cost ~ $ 100 each), for over 500 coins. I, on the other hand, invested most of it in stocks and about 30 thousand in silver.

My brother never sold any of his Bitcoins. He never exchanged them for other crypto coins. His work pays him very well, so he never had any liquidity problems. He still has more than 500 coins,“ declared the repentant twin.

Seeing the explosion of his brother’s heritage, the twin silver fan today regrets the choice. According to him, his brother bitcoiner today has at least 100 times more assets for believing in the digital currency.

„My 30,000 silver investment in 2013 is now worth about 26,000, and all my net worth is below 100,000. My brother’s 50 thousand Bitcoins investment, however (which was made months after my silver investment), is now worth more than $ 10 million. His wealth in Bitcoin alone is more than 100 times greater than all my net worth,“ he declared with a loss

Gemini who invested in digital currency is with the defined life, intends to retire soon

The twin who believed in Bitcoin now plans his retirement soon. He would have told his brother that he intends to travel with his wife and children and become an investor.

The brother would even have given him 1 Bitcoin as a gift, currency that today is worth U$ 19 thousand each. Even so, the investor of silver can not leave aside the envy about his brother and stopped even attending family parties to not meet him.

He asked the community of silver investors in Reddit for advice on how to leave aside the regret of believing in the metal.

„Now he gave me a Bitcoin. And I won’t sell it. As happy as I am for him, however, it hurts a lot to hear about his fortune and brilliant future, and not to be jealous. I stopped attending family events (him too), because I can’t get over the overwhelming thought of „hey, you should have done what your brother did“, every moment I’m awake.

It’s extremely depressing. I try to be grateful for what I have, and I try to be grateful because I know that many other people in the world have much worse things. But I don’t know if I’ll get over it. Whenever I’m working, I try to distract myself from the thought that „if you made the same investment, you wouldn’t have to work anymore“, but the thought always comes back“, declared twin who can’t overcome loss

When he stated that he will not sell his Bitcoin, he understood that in the long run the currency still has potential. If the Bitcoin’s movement continues upwards, it may even surpass its investment in silver in the coming years.

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