Wednesday , May 25 2022

The Australian bitcoin investor discovers a $ 3 billion loss in the crypto currency



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Sam Caragiozis has always been a great believer in bitcoin.

He was also willing to put his money wherever he was, investing $ 15 million ($ 15.9m) to launch the first national bitcoin ATM network a few years ago through one of his companies, Auscoin.

He was also one of the earlier crypto investors, who replaced him for theft and returned as his value jumped to a peak of around $ 27,000.

But then a crash happened.

The original hyper-environment surrounding the "night bitcoin millionaires" caused a sharp increase in the value of the crypto currency, only to fall after the early investors were redeemed and later investors began to panic.

Today, a bitcoin is worth $ 4946 – and Karagiozis, a self-proclaimed "hustler" who left school at age 15 and turned the hamburger to McDonald's before becoming an investor and a "serial entrepreneur", estimates he has lost about 3 million dollar result.

"I was an early investor – I've been investing in bitcoin for five years, and the value of Bitcoin, which I keep from its peak to this week, fell by about $ 3 million," he told the news agency. com.au.

"But I still keep the same amount of crypto currency as before 18 months – it's just worth less."

Although most of us would think that they should not be monetized at optimum time and that they lost $ 3 million as a result of a big mistake, Mr. Carrageosis is resolutely optimistic.

"Let's be real, it would be much more beautiful if it did not fall in value – I will not sit here and say that I do not mind – but at the end of the day I believe in the long term … I just put on what I could afford to lose, "he said.

"As a business owner I go through the risks every day and I decided to invest Ks amount into the crypt, which I did, and at the end of the day I had a loss of profit, not a loss of investment."

Karagiozis said that, despite his loss of eyes, he was sure he would recover – but he urged potential bitcoin investors to always do their research and invest rationally.

"It's definitely not the first time that it has fallen – for example, it hit $ 1200 in the past and fell to $ 100 a few years ago, which was a big drop. It has a history of dying and re-animation," he said. said.

"I'm definitely sure that Bitcoin will return to where it once reached its peak and that it will probably be over again – however, I do not think it will happen within a period of six months.

"I think it will be slower and more stable than it was in 2017 and I would not be surprised if I did not go over $ 8,000 this year."

It's not just Bitcoin that Karagiozis's earnings have caused him to hit – he estimates he has lost another $ 2 million thanks to the collapse of the housing market in Australia.

In just one example, he told nevs.com.au, he sold one property to Melbourne 18 months ago for about $ 720,000, but recently sold nearly identical assets for only $ 573,000.

However, like Bitcoin, he said he was confident that our housing market would return.

"In the long run, property in Australia and Melbourne is definitely growing," he says.

"It does not affect my plans.

"For the past 18 months, through assets, crypts and stocks, it was incredibly weird, so if you are in a position to hold any of these three assets and you can afford it, then I think you should avoid losing your sales and consider yours. That does not mean it will not fall More, but do not rush into something based on emotions, because it's always the worst thing you can do.

"Life is tough, things keep crashing, but you just have to face it and go on and go ahead, otherwise you would not do anything."

Last February, Caragiozis announced the news after a 60-minute report suggested that Auscoin's "money-grabbing" was based on little more than "grandiose promises".

"Calling him an obvious fraud with zero evidence is harmful … Auscoin is the backbone of my life and reputation right now," he told nevs.com.au at the time.

"That's what I do, whatever advice I give to people, their success is my success."

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