Grant Sabatier is a bitcoin billionaire, first investing his money at Rp66.6 million in bitcoin in 2013 at a price of Rp950,000 per coin.
He first heard bitcoin in 2011 through documentaries and reading books.
He then uses less than 1 percent of his wealth to buy bitcoin, so if it fails, he does not lose everything.
Similar fairy tales, its bitcoin value in 2017 soared to Rp13, 3 billion
For comparison, when investing in stocks, to collect Rp13, 3 billion, Sabatier takes 5 years to work 80 hours / week.
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Many are asking Sabatier's Millennial Money blog about bitcoin investments. Some even intend to invest all their savings into bitcoin.
But Sabatier does not advise people to invest their money into bitcoin for several reasons:
- Bitcoin prices are difficult to determine
Because many people buy bitcoin, so it is not possible to accurately assess the bitcoin.
Prices can fluctuate 20-30 percent in one day, never stable, so one can also lose money very quickly. Bitcoin is a short-term gamble, not an investment. - Maybe bitcoin has no value
The value behind bitcoin is blockchain technology that has also been imitated by many other digital currencies, even with better and easier-to-use versions.
Sure, bitcoin has an initial mover advantage, but is created to buy and sell goods safely that nobody does now because the price is so crazy and transaction costs are soaring.
The value of bitcoin can be much higher or lower than when someone sends money.
READ ALSO: - Bitcoin is still not safe
One might think that digital money is safe, but the exchange in it can be hacked.
Also because no agency regulates or guarantees the security of bitcoin transactions or digital money, if someone loses, it will be difficult to return.
Or just someone's money in bitcoin stolen by hackers, and such theft will continue to happen. And once again Grant Sabatier warns that bitcoin is gambling, not investment.
Bitcoin is very risky, and people should invest their money safely for both long and short term.
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