11-05-2021, 07:42 AM
I took out a 40k loan just over a month ago to buy bitcoin here is how it’s going:
<!-- SC_OFF --><div class="md"><p>So I made a post a bit over a month ago it was about taking out a 40k AUD loan to buy more bitcoin which I withdrew off the equity on my mortgage at 2% interest if anyone was wondering how I kept the interest rate so low. </p> <p>So how is it travelling? I pay an extra $150 a month on the repayments which I have managed to pay without working more. How? A simple combination of buying less alcohol and bringing my lunch to work 1 more day a week instead which has actually cut down more spending and helping me lose a bit of weight which has been a really positive outcome. </p> <p>The price of bitcoin? I bought my 40k worth at around 59k AUD which with this purchase pushed me over the 1 BTC mark which I was rapt with. The price today is around 82k AUD so I’m around 38% AUD up on my investment. In addition to this I have staked my BTC at around 4% so I am making passive income on my investment. </p> <p>My plan? Whenever I feel we are starting to get to the FOMO stage I will sell 40k worth of BTC and pay back the amount that I borrowed. Even if it only goes to 108k AUD (which we all believe it will go a lot higher) I would of doubled my money. </p> <p>If it goes to a bear market? I have been easily been able to service the extra repayments by just making a couple of small sacrifices and I am happy to wait a couple of years if need be. </p> <p>I understand this is not for everyone however would just like to share my experience so far. Cheers legends !! ? </p> <p>(Not financial advice)</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/PUMPSII"> /u/PUMPSII </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qmvhhm/i_took_out_a_40k_loan_just_over_a_month_ago_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qmvhhm/i_took_out_a_40k_loan_just_over_a_month_ago_to/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>So I made a post a bit over a month ago it was about taking out a 40k AUD loan to buy more bitcoin which I withdrew off the equity on my mortgage at 2% interest if anyone was wondering how I kept the interest rate so low. </p> <p>So how is it travelling? I pay an extra $150 a month on the repayments which I have managed to pay without working more. How? A simple combination of buying less alcohol and bringing my lunch to work 1 more day a week instead which has actually cut down more spending and helping me lose a bit of weight which has been a really positive outcome. </p> <p>The price of bitcoin? I bought my 40k worth at around 59k AUD which with this purchase pushed me over the 1 BTC mark which I was rapt with. The price today is around 82k AUD so I’m around 38% AUD up on my investment. In addition to this I have staked my BTC at around 4% so I am making passive income on my investment. </p> <p>My plan? Whenever I feel we are starting to get to the FOMO stage I will sell 40k worth of BTC and pay back the amount that I borrowed. Even if it only goes to 108k AUD (which we all believe it will go a lot higher) I would of doubled my money. </p> <p>If it goes to a bear market? I have been easily been able to service the extra repayments by just making a couple of small sacrifices and I am happy to wait a couple of years if need be. </p> <p>I understand this is not for everyone however would just like to share my experience so far. Cheers legends !! ? </p> <p>(Not financial advice)</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/PUMPSII"> /u/PUMPSII </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qmvhhm/i_took_out_a_40k_loan_just_over_a_month_ago_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qmvhhm/i_took_out_a_40k_loan_just_over_a_month_ago_to/">[comments]</a></span>Kind Regards R