The story of how I started investing in crypto - the $100K loan

Would you take out a $100K loan? 

And invest in something as risky as Bitcoin?

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That’s what I did in 2014.

A passing conversation in the stairs of Tech Ranch Austin with David Johnston, a co-worker I barely new at the time and now a good friend - led to a bold decision.

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I had zero clues about the technology, the industry, the potential market or even the likelihood that it might be banned.

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I knew the times were changing and when I heard “the internet of money” I also knew these were the kinds of bets I needed to make.

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Quickly I opened my first Coinbase account.

And started buying Bitcoin.

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But I was running out of cash for my own living costs, so I could barely afford to invest.

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That’s the moment I had a wild idea. 

I took out a $100.000 loan against my mortgage.

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I used it to support myself, finance my company, and continue to invest.

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There were two potential scenarios.

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One.

If crypto went south. 

It could take me a year or two of employed work to repay my debt.

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Second.
If crypto went well.

I’ll have benefits for the rest of my life.

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That’s the kind of asymmetric risk/reward ratio that I live for. 

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The story continues in one of my upcoming posts.

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What do you think happened next?