A young resident from Queensland, Australia, who spent efforts gradually amassing Bitcoin (BTC) and Ether (ETH) throughout numerous years, has reportedly purchased his dream home despite surging prices. 

Specifically, The 23-year-old Loi Nguyen reportedly began the investing part of his life in 2017, via buying a few hundred dollars equivalent of BTC, ETH, and traditional stocks.

Nonetheless, his interest in crypto witnessed a major surge while studying to get an Economics degree. 

“Crypto came back into my life when I did a course at the union inflation. I learned that Bitcoin can be disinflationary.”

During his speech to news.com.au, Nguyen reportedly disclosed that the lower interest rates (under 0.5%) offered by traditional banks will provide no assistance for him, in his efforts to jump into the real estate scene. 

Via employing a dollar-cost averaging (DCA) investment approach, the young investor continued to bring diversification to his portfolio of cryptocurrencies during the temporary bear market of 2018. 

“I recognize I took on a lot of risks. I wanted to protect my purchasing power, protect my current savings, and make sure my money didn’t dwindle away.”

With the collapse of the traditional market during the beginning of the global health pandemic, the investments Nguyen poured into crypto dwarfed his stock portfolio, leading him to steer away from traditional markets and go all-in in crypto, eventually accumulating 1 BTC within the span of a few months. 

With the goal of buying real estate, Nguyen cashed out his crypto investments during November-December last year, a timeline when BTC achieved a record-breaking high, hitting $69,000. 

In total, the young Aussie sold under fifty percent of his crypto portfolio, leaving him approximately $31,400 (43,000 Australian dollars) to show the bank as a part of the down-payment, buying a one-bedroom apartment in Brisbane, which was priced at $314,000 ($430,000 Australian dollars).