{"id":9245,"date":"2022-03-13T05:59:43","date_gmt":"2022-03-13T05:59:43","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/23-year-old-australian-buys-314k-property-via-planned-crypto-investments\/"},"modified":"2022-03-13T05:59:45","modified_gmt":"2022-03-13T05:59:45","slug":"23-year-old-australian-buys-314k-property-via-planned-crypto-investments","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/23-year-old-australian-buys-314k-property-via-planned-crypto-investments\/","title":{"rendered":"23-year-old Australian buys $314k property via planned crypto investments"},"content":{"rendered":"
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A young resident from Queensland, Australia played the long game of accumulating Bitcoin (BTC) and Ethereum (ETH) over several years to eventually overcome the soaring real estate prices during the 2020 bull run and own his dream home.<\/p>\n
The 23-year-old Loi Nguyen started his journey as an investor back in 2017 by purchasing a few hundred dollars worth of BTC, ETH and traditional stocks. However, his interest in crypto reached new heights while pursuing an Economics degree:<\/p>\n
\u201cCrypto came back into my life when I did a course at the uni on inflation. I learned that Bitcoin can be disinflationary.\u201d<\/p><\/blockquote>\n
Speaking to news.com.au, Nguyen revealed that the lower interest rates (less than 0.5%) offered by traditional banks could never help him break into the real estate market. By following a dollar-cost averaging (DCA) investment strategy, the young investor continued to diversify his portfolio into cryptocurrencies amid the temporary bear market of 2018:<\/p>\n
\u201cI recognize I took on a lot of risks. I wanted to protect my purchasing power, protect my current savings, make sure my money didn\u2019t dwindle away.\u201d<\/p><\/blockquote>\n