A prominent Bitcoin trader disclosed how his millionaire dad liquidated his house for $800,000 to acquire XRP, urging the community to draw inspiration from the move.
Man Sells House, Goes All-In on XRP
Recently, a Bitcoin day trader with the X username “Myles G Investments” called attention to a bold move his father undertook regarding XRP that illustrates their confidence in the future potential of XRP.
Specifically, Myles disclosed that his dad sold his residential property for $800,000 and allocated the proceeds to purchase XRP.
Furthermore, the Bitcoin trader underscored his father’s extensive experience in the investment landscape. In particular, he revealed that his father has been actively investing and trading for over five decades.
Per the revelation, the veteran trader acknowledged that his audacious decision to sell a residential property for XRP would be the most consequential “home run” of his career.
my Dad sold his $800,000 house to buy #XRP.
He's been investing and Trading for over 50+ years.
He said this is going to be the biggest home run he's ever made.
Don't fade my Dad. He got me into #bitcoin at $7,000 and #eth at $200
— Myles G Investments (@MylesGinvest) February 14, 2024
When asked whether it was a real-life story, he responded affirmatively, confirming the authenticity of the account.
Don’t fade the XRP Investment
Amid this disclosure, the Bitcoin day trader urged the crypto community, “Don’t fade my Dad.” This statement implies a call to respect and recognize his father’s sound judgment about XRP.
Moreover, Myles emphasized his father’s astute judgment by highlighting another crucial investment strategy that has demonstrated remarkable success.
Specifically, he revealed that his father had guided him into the Bitcoin market when BTC was priced at only $7,000 and similarly into Ethereum when ETH traded at $200.
If Myles continues to hold onto his Bitcoin investment since 2019, when BTC was last seen at around $7k, it suggests he still retains a return on investment of over 630%, given BTC’s current price at $51,775.
Similarly, with Ethereum now valued at $3,004, Myles has witnessed at least a 1,400% ROI since the initial $200 purchase.
Essentially, the Bitcoin trader perceives potential in XRP in the forthcoming years. In a subsequent update, Myles disclosed some details regarding his XRP portfolio. He expressed his intention to profit when XRP hits between $3 and $7.
With XRP currently priced at $0.5468, it implies the Bitcoin trader is aiming for a potential gain of up to 1,180% from XRP in the upcoming months.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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