In 2017, a legend emerged in the crypto circle: a Dutch man named Didi Taihuttu liquidated all his family's assets to convert them into Bitcoin, along with his wife and three children.
1. Bankrupted to buy Bitcoin, the crazy Bitcoin family.
They took all their profitable companies, their large house of over 200 square meters, cars, clothes, and even their children's toys, leaving behind minimal 'survival supplies' for their family, and then exchanged all their assets for Bitcoin. The Didi Taihuttu family was dubbed the 'Bitcoin family' by the media at the time.
Then he took his whole family on a global 'budget travel' adventure, visiting 40 countries/regions in three years, while still advocating for Bitcoin along the way.
Didi Taihuttu's actions were ridiculed as madness and insanity back then, and after enduring a long bear market, the choices made by the Taihuttu family seemed absurd and incomprehensible to people at the time.
However, recently, the situation has changed.
Bitcoin has been rising continuously, breaking new highs and even approaching the $20,000 mark. The Didi Taihuttu family has proven their three-year 'belief' with facts.
Three years ago, when he gained global attention for going bankrupt to invest in Bitcoin, he said: 'This experiment will last until 2020. I believe that during these three years, our assets will at least triple.'
Didi Taihuttu made it happen.
Bitcoin made it happen.
The story of this family is more like a shared comfort for those who persist through the bear market.
2. Cost as low as $900, he bought during the crash, and when Bitcoin's price rose, he did not sell.
In an interview with CNBC, 42-year-old Didi Taihuttu said, 'We got into Bitcoin because we wanted to change our lives.'
When Bitcoin's price plummeted in 2018, Taihuttu bought more Bitcoin for his portfolio. He said he has always believed that cryptocurrency is ready for a significant rebound. 'I believe we will see a minimum peak of $100,000 in this bull market cycle. If it reaches $200,000 in 2022, I wouldn't be surprised.'
In early 2017, Taihuttu bought most of his Bitcoin at $900, shortly before the bull market in mid-December 2017 when Bitcoin soared to $20,000. But Taihuttu did not give up his belief in Bitcoin; he continued to buy Bitcoin at high points. However, it only lasted a month, and the price of Bitcoin faced a halving-style drop, followed by a major bear market in 2018. Now, people in the crypto circle still cannot forget the terror ruled by the bear market, and the Taihuttu family, who risked all their assets, faced immense difficulties.
But the Taihuttu family is undoubtedly a steadfast evangelist for Bitcoin investment. In the interview, he said, 'When Bitcoin drops, we start buying more.'
When asked how he views the current rising market and whether it is another round of extreme bubble, Taihuttu said: 'I believe the demand will not decrease.' 'I think we are facing a supply crisis.'
As Warren Buffett famously said, 'I am fearful when others are greedy, and greedy when others are fearful.' Bitcoin, as a more recognized investment product, has garnered increasing favor from well-known investors and institutions this year.
3. Unlike 2017, the 'institutional bull' has given confidence to people in the crypto circle.
One difference in the rebound of Bitcoin between 2020 and 2017 is that institutional investors are now buying Bitcoin, while the industry is also improving in terms of regulations, legitimacy, and stability, helping Bitcoin shed some of the 'unsafe' labels it had.
The surge in 2017 was largely driven by retail investors, whereas this year we are seeing a massive influx of corporate entities and institutional asset managers, said Mati Greenspan, investment manager and manager at Quantum Economics.
Old-school billionaires hedge fund managers Stanley Druckenmiller and Paul Tudor Jones have both publicly stated that they hold Bitcoin, and large fintech companies like Square and PayPal are also embracing crypto products.
The mainstream acceptance of Bitcoin's value in the investment community is crucial. Because cryptocurrencies like Bitcoin lack fundamental support and government trust and endorsement, their value is perceived to come from people's belief in it. Just like the choice made by the Taihuttu family.
But now, Bitcoin has entered the investment basket of institutional whales, and the confidence of people in the crypto circle has returned.
The story of Didi Taihuttu's family went from madness to envy, but it has a warm and affectionate ending.
For Taihuttu, the development of Bitcoin is not just about making money; he has donated half of his wealth to charity, and his family of five has traveled the world together over the past four years, spreading the beautiful future of decentralized digital currency.