He Bought Bitcoin In 2015… And Never Sold

[00:00:00]My first experience with crypto was like 2015 but >> and it was Bitcoin. Most of that on there is like Bitcoin and Ethereum. I don't really like dabble after that. I went and it was like $80 and back then to buy Bitcoin you used to have to go on like a forum >> and because there's no exchanges. I don't know if you guys buy Bitcoin now or like crypto, but you could buy it on Robin Hood. It's on exchanges. You could buy however you want. Was that way back then?

[00:00:23]>> No. Like 2015 you'd have to go on a forum and somebody would be like, "Send me a Starbucks gift card or something."

[00:00:28]and he would like go to the store, scratch it off, take a picture, send it to him.

[00:00:32]>> And uh so I got $80 worth of Bitcoin um or $100 worth of Bitcoin. I think it was like $60 left over. And then 2018, everybody was like talking about Bitcoin. Like everybody's like, "Oh, dude, this is going crazy." And I was like, "Dude, I think I have some of this." And they're like, "No, it's new.

[00:00:48]Like it's brand new." I was like, "No, I think I have some of this." When I checked my account, I went up to like $8,000 off of like the 20 >> from like 60 bucks or something >> from like it was probably like 20 or 40 bucks left over. And this is like 2018.

[00:01:00]>> Okay.

[00:01:00]>> And that was like the first experience where I got like hooked into like not just crypto but investing because that was the first time I saw like my money make money, right?

[00:01:07]>> And then after that um I just dove in. I was like, "Okay, I'm sold. I I just got >> All right. Tell what does what's that mean? What's dove into crypto mean?" So you got this like >> I would say I was a little skeptical at first. Um, but I think in 2020 is when we like fully dove in. I think that was like a weird time, but it was like where crypto was, I think, at its lowest or >> Yeah, it was super low.

[00:01:28]>> Um, compared to where it had been and he was just like, let's just invest. Let's just invest.

[00:01:34]>> So, like, how how are you doing it?

[00:01:36]Like, are you like buying bits and pieces of it through time? Are you waiting for the price to go down and you would buy in? Like, how are you?

[00:01:41]>> At that point, it was literally like I would call I'd be working I was working in the hub at that time. So I'd be working at like 6:00 p.m. to 11. I would just call her and I'd be like, "How much money's" Cuz we combined finances early before we ever got married. So it's a bold step.

[00:01:56]>> Yeah, we did. But it wasn't like that since like we started dating. Like we never worried about like, "Oh, let me pay you back for this or any of that."

[00:02:03]Like we just kind of enjoyed our time.

[00:02:05]Like whatever we had, we he would save up trash can like the cans go to recycling. we'd save up together, make our summers, like go to the fair and like that's how we did it. So, >> we just always from the beginning combined. So, that's kind of like why he's like, "Oh, call."

[00:02:20]>> Yeah. I would just call her at work and I'd be like, "In like, babe, do you see the price of Bitcoin? Invest now." And she's like, "What are you talking about?

[00:02:27]Like, how much money is in the account?"

[00:02:28]She's like, " $2,000." I'm like, "Put put $1,000 in."

[00:02:31]>> Oh, wow. So, you were like you had >> Yeah, we were just throwing But not just Bitcoin, also like stocks as well.

[00:02:37]>> That's when we started. when we started >> in 2020 with the stocks cuz everything was like down at that time you know um >> I say crypto like 2018 2019 but with stock of this 400 have you turned any of this into liquidity like or have you just kept it >> sold crypto? No.

[00:02:56]>> Okay. Oh, only for losses cuz obviously in the beginning when you start seeing like I fell into the trap a little bit of like thinking all crypto is going to go up. So some of the ones that went down, I would sell them cuz I realized like, hey, look, it's never going to go back up. So I've realized some losses over time, but I've never realized any of the gains.

[00:03:12]>> Okay. So this crypto, so >> we've never touched it really.

[00:03:15]>> If you had to guess of this $443,000 of crypto that you have, how much of that is like money you've put in? Like what's the basis in there?

[00:03:24]>> I don't even know. He would have to >> like honestly probably not more than like 40 to 50,000.

[00:03:28]>> Yeah. Oh wow.

[00:03:29]>> Yeah. Yeah.

[00:03:30]>> I mean the the date you're giving me that makes sense. Yeah.

[00:03:33]>> And that's what I mean it's one of those things when people ask us about crypto I think now looking back in retrospect we're like yeah we'd all like to have bought because we've heard we even had um Humphrey Yang was on and he shared that what was it a pizza transaction or something getting in that early adopter status there's obviously been some huge rewards. The thing I worry about and and y'all know I've been very vocal because I dabbled for about two years with it.

[00:03:59]Yeah. And it's just the volatility was just something I was not it felt outside of investing it because it was just even right now I mean today it's down 4%. You know and and for the last month it's down like 25%. That's just not normal for things to >> swing that way.

[00:04:15]>> Yeah. It it just feels >> different. So, that's the only thing that scares me a little bit for you guys is because you've you've won the game in some aspects to be in your 20s, have this big of a net worth. Yeah.

[00:04:29]>> Now, I'm not saying get rid of it all, but I am saying there's a portion that maybe we look at your goals. In a minute, we're going to do some questions and then we figure out if any portion of this >> should kind of help accelerate y'all's journey into some of these other goals.

[00:04:42]>> I'd be curious just to hear what your strategy with it is. Are you actively buying more? Have you thought about when you might sell? What are your trigger points? Like how are you as a as a crypto investor? Yeah.

[00:04:52]>> How are youo approaching it strategically?

[00:04:54]>> So not I didn't buy for a while. Like I'm not from like Q4 of the post having year which was like last October, November, December, I probably haven't bought, but I'm not going to lie, I did buy some this morning because I saw that it was 4%.

[00:05:07]>> Yeah. He's like transferring money. I was like what are you transferring money for? And then he's like Bitcoin. I'm like >> cuz it's at [laughter] a price that's like undeniable right now. So I I did buy some today. Um, but our goal longterm, we're going to take such a tax hit if we were to just sell it. Um, but I there's a lot of places like JP Morgan Chase, Bank of America where you can actually use as collateral and borrow against it. But I don't really see it as we need that money right now. So when we do end up needing it, maybe borrowing against it or there's some strategy there, but not 100% sure.

[00:05:34]>> If we think about your total liquid net worth, $720,000 and a vast majority of that, a big chunk of that is in Bitcoin.

[00:05:42]Is is there or I'm sorry in crypto, not specifically Bitcoin, is there a as your portfolio continues to grow because in a moment we're going to talk about savings and where you allocate like this morning, just out of curiosity, when you bought more Bitcoin, how much did you buy?

[00:05:54]>> Only $2,000.

[00:05:55]>> Okay. So, we're not like big big chunks at relative total portfolio. Got it.

[00:06:00]Okay.

[00:06:00]>> So, when it comes to your I'm going to call your normal saving like you're like walk us through how you guys >> because you even if we remove the Bitcoin from the or the crypto from the equation, >> you're still doing really well. really impressed. You guys are crushing. You're in a great spot.

[00:06:13]>> I almost like don't I pretend it's not there.

[00:06:16]>> Yeah, I can I can understand that.

[00:06:17]>> Yeah, I try not to like I mean I don't think about it as much as he does. So like I just don't even know it's like there. It's like oh like >> and and that that shows. I mean because even y'all's y'all's cash is pretty frothy. I was going to ask y'all some questions about that. Um but I kind of wanted to get more of a feel for what y'all are building here.