Getting involved in bitcoin and cryptocurrency can be quite risky. Digital currencies are known for being extremely volatile and vulnerable to outside market influence, but according to Didi Taihuttu and his family, not getting involved in bitcoin would have been even risker.
Didi Taihuttu Sees Bitcoin As More Than Just a Currency
Taihuttu is a 39-year-old husband and father of three children. Presently, they all live in a 2,500 square foot that they’re selling – along with everything else they own, including their bikes, their furniture, even their shoes. After getting money from the sales, they traded that cash in for bitcoin and are now waiting for the currency to take off.
Taihuttu is confident in the future of bitcoin and claims that the financial market is switching over to be strictly crypto and digital payment methods. When describing his mindset for getting rid of everything and trading it in for BTC, he commented:
We were just like sell it, sell, what can we lose? Yeah, we can lose all the material stuff. Yeah, we can lose all our money. Yeah, we don’t have three cars anymore. We don’t have the motorcycle anymore, but in the end, I think we, as a family, will still be happy and just enjoying life.
While they wait for the asset to peak to a new high, the family is living in a campsite in the Netherlands. Taihuttu says that he used to mine bitcoin but is now only involved in the trading. Right now, they are just trading a little bit at a time so that they can afford groceries and other essentials for daily life, which he claims really aren’t much.
One of the big issues he’s experiencing is opposition from his friends and family. They believe he’s nuts to put everything into a cryptocurrency that has been known to go up and down each day like the sun and the moon. However, Taihuttu believes that the current financial market isn’t satisfactory anymore. He’s confident a bitcoin revolution is about to come, and he wants to be there when it happens.
He states:
A lot of people have lost their faith in the current monetary system, and I think that cryptocurrency is a big alternative for those people.
Still a Lot to Be Concerned About
He’s got a positive attitude, no doubt. The fact is that bitcoin has done quite well this year, jumping up from just under $4,000 in March to about $18,000 per coin at the time of writing. Many institutions are investing in it, and the asset is close to once again reaching its all-time high, but there are still many doubters out there who think Taihuttu is making the wrong move.
Campbell Harvey – finance professor at Duke University – says bitcoin has “five or six times the volatility of gold,” and that it’s hard to place a “fundamental value” on the cryptocurrency.