How I Missed the Opportunity of Becoming a Bitcoin Multimillionaire this Year

Of course, the year 2017 will end in a few days. For me, it is a year full of great regrets because I missed the rare, lifetime opportunity of becoming a multimillionaire through investment in Bitcoins. We are wherever we are today because of the right or wrong decisions we made yesterday. This is quite true in my case. I will now tell you my story in the paragraphs that follow:

I was introduced to Bitcoin investment in Nigeria towards the fall of 2016 by a childhood friend. He had given me some basic lessons on the whole idea of cryptocurrency, how it had the potential of dominating the mainstream paper money and how it could exponentially appreciate in value as more and more people across the world continue to adopt the currency. Afterwards, I did further research online about cryptocurrency. I was thrilled, so I decided to buy three Bitcoins in November 2017.

At the time, a Bitcoin sold for about $700 which was approximately 350,000 Naira at an exchange rate of 500 naira to $1. So, in total, I invested $2100, the equivalent being, of course, 1,050,000 Naira. And so, I went to bed waiting for the day the price of Bitcoin would soar like an eagle.

However, in the second week of December when MMM Nigeria froze the account of millions of its participants across Nigeria, there was great panic in the air. The media bombarded the Nigerian public with the dangers of ponzi schemes and the looming doom that would come with cryptocurrency investments. Particularly, Bitcoin was targeted.

While I was struggling with the maligning articles in the media against Bitcoins, another friend paid me a visit on the eve of Christmas and advised me to sell off my Bitcoins. I contemplated at first but eventually heeded to the advice. So, on January 12th 2017, I sold off 2 Bitcoins at the rate of $720 per Bitcoin, the equivalent being about 650,000 Naira. Eventually, I sold my last batch of Bitcoin (0.55BTC) on January 22nd 2017 for 239,000 Naira when Bitcoin exchanged for $920 per Bitcoin. In the end, I sold all the 3BTC I had in my wallet for about $2500, making a token profit of roughly $400 for my $2100 investment. At thia time, $400 was about 160,000 Naira.

Screenshot of my last BTC panic sale on Luno

After the panic sales, I suspended all my involvement with Bitcoin and other cryptocurrencies and faced my full-time banking job. But my thoughtless decision would turn out to be one of the biggest mistakes I have made in my life. I was shocked when I discovered a few weeks ago that one Bitcoin hit an all-time-high $17000

This means that if I had been thoughtful enough to hold the 3BTC I had bought for $2100 in November 2016 in my Blockchain wallet, I would be having an estimate of $51000 by now. At the present exchange rate of 350 Naira per $1, I would be having an estimae of 17.5 million Naira, getting a stunning 1800% returns on investment. This would have made me the youngest millionaire in my family but I lost the opportunity due to ignorance and fear.

The good news is that I have learnt my lessons and moved on; for it is not what happens to a man that matters but how he reacts towards it. I look forward to investing more in cryptocurrency, especially Steem and Bitcoin , in January 2018

Dear reader, you could have made some mistakes like me this year but there is an opportunity to break new grounds next year. I wish you a merry Christmas and a happy new year in advance and hope that you were inspired by my story

Please share your ideas about cryptocurrency in the comment section and kindly upvote this post, if it inspires you. I also need your upvote to boost my Steem power