This trader is now a millionaire after 8 years of buying $30 worth of Bitcoin per day. The owner of the X account @regothetrader has been buying $30 worth of Bitcoin (BTC) per day since 2016, applying the dollar-cost averaging (DCA) strategy, bringing his total investments to $86,250 over 8 years. In an update he shared on X on November 9, @regothetrader revealed that the value of his Bitcoin holdings has exceeded $860,000, meaning he has achieved a huge return of over 900%.
UPDATE: BITCOIN DCA JOURNEY
It has now been nine months since I've last updated our progress on my personal daily Bitcoin buys. We are approaching the 8 year anniversary of consistently buying Bitcoin every single day, at the same exact time, regardless of the price it trades… https://t.co/2S1GRLpF3f pic.twitter.com/gdyhZqclBE— rego • (@regothetrader) November 9, 2024
Given that Bitcoin has surged to nearly $100,000 since November 9, his holdings are likely worth over $1 million by now. In his post, @regothetrader details his inspiring story of hard work, perseverance, and staying true to his faith in Bitcoin despite the skeptics. His story is truly inspiring, and a lesson that financial freedom is possible even for ordinary people with limited incomes if they make small, steady, and regular investments in Bitcoin (according to the DCA strategy) and endure short-term volatility.
"Dollar-cost averaging (DCA) is an investment strategy that involves investing a set amount of money at regular intervals, regardless of the price of the investment. The goal is to reduce the impact of price fluctuations and lower the average cost per share over time." Bitcoin pic.twitter.com/wt8g6gTKGA— Infinite Insights (@Manyonge12) November 24, 2024
Is it too late to invest in Bitcoin using the dollar cost averaging strategy?
@regothetrader was early to the Bitcoin world, so the huge returns he has made using the DCA strategy on Bitcoin are no surprise. But with BTC already approaching $100,000, is it too late to make similar profits using the DCA strategy? The answer to this question really depends on your view of Bitcoin’s long-term price forecast, as many expect Bitcoin to one day replace gold as the world’s primary reserve asset, and be adopted by countries, multinational corporations, and institutional investors. As such, Bitcoin could be worth millions of dollars and have a market cap of tens of trillions of dollars, meaning its current price could rise by a factor of 10 or more in the coming years (or decades).
Therefore, the $30 per day investment strategy may continue to generate strong gains for the foreseeable future. Alternative Investment Strategies for Faster Returns Using dollar cost averaging to invest in Bitcoin is a proven and well-thought-out strategy for long-term gains, but it takes a long time before you see lucrative gains, as it took @regothetrader 8 years.
Therefore, crypto investors looking for faster gains may prefer to look into alternative options such as swing trading strategy and investing in altcoins and promising coins with small market caps.
POV: Pepe is visualizing breaking his chains and getting swole doing it!
It's only a matter of time now.. pic.twitter.com/KZSq5KDdn1— Pepe Unchained (@pepe_unchained) November 24, 2024