Bitcoin Plunges to Below $4300, A New Low For the Year

Well, shit. About a year ago to this very date, I was sitting in my apartment consuming every single ounce of Barstool content I could find. Current Rundowns after work and then down a rabbit hole of old rundowns before bed. I still watch this one when I need a good laugh. Anyways, I would wake up every morning and listen to PMT, watch Pizza Reviews during lunch, and read all the blogs. Anything that Barstool was putting out, I was consuming. Anything they were selling, I was buying. And right around November of last year, Bitcoin took over the office like a firestorm. Dave was literally talking about it all day, any day!

I wasn’t going to sit on the sidelines and watch the whole world get rich either. So I spent the next two weeks living off the land at my school, waiting until the lunches were over before scavenging through the leftover cafeteria food, all so I could put my entire paycheck into Cryptocurrency. Two Fridays later, I solved the puzzle that was Coinbase, and I put $1,000 of my crisp, hard earned dollars into the imaginary market of whatever the hell Bitcoin was. No one knew what it was. Everyone knew it was a scam. But there’s no way I was going to sit back and watch the wealth of the world get redistributed without me getting involved. I mean, Warren Buffett was shaking in his boots! The balance of the world was shifting from the rich to the poor!

I literally bought this poster for my classroom because I was so all-in on Bitcoin.

My selling point to my coworkers was that they could always visit me on the moon, or they could invest their own paychecks and buy the rocket ship right next to mine. I got in at about $16,000. Not bad when you figure that my initial $1,000 investment would be worth about $62,000 when it hit a million dollars a coin! I thought I was going to be king of the modern world when Bitcoin hit it’s record high of $19.7K on December 20th, but then, my world came tumbling down.

By February, the price had already fallen to $8000, about 1/2 of my initial investment. And instead of doing what the weak hands of the world did, I made the savvy economical decision to double down on something I truly believed in. So once again, I lived off of single-serve chocolate milk cartons and leftover Bosco Sticks for two weeks, until I was able to put down another THOUSAND into the game. What could possibly go wrong?

Looking back, that probably wasn’t the best idea. Hindsight is 20/20 though. So now I’m two full paychecks deep into an imaginary fund that has fallen 75% since I bought in. But I’m not going to sell though. I still believe in this thing that I don’t know anything about. We’re just shaking out the weak hands with this 75% drop!