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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Reddit User Wins Lottery, Buys Bitcoin: Here’s What He Could Earn

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
buy bitcoin lottery reddit

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Buying Bitcoin in the first few years after its creation would have been the investment equivalent of winning the lottery.

But what might happen if an actual recent lottery winner invested half of his winnings into Bitcoin, and how much could he potentially earn if Bitcoin reaches its full potential?

Winning The Lottery and Betting It On Bitcoin

The emerging asset class of digital currencies is a speculative, high-risk market. Those interested in investing into crypto or Bitcoin are often told to never invest more than they can afford to lose.

Related Reading | Dot Com Vs Crypto Bubble: A Glimpse Into Human Psychology and The Future of Bitcoin?

But what happens when a millennial male happens to win the lottery, and suddenly finds himself with an excess of money they don’t actually need, and can easily afford to lose? He invested half of it in Bitcoin, of course.

Reddit user /u/Joxnlol recently won half a million dollars on a scratch ticket from the Illinois State lottery this past April and promptly invested half of it in Bitcoin the following month in May.

Given Bitcoin’s penchant for rising a few thousand percent in value during bull runs, then later dropping 90% in value in downtrends, will either make the decision the smartest one the man has ever made or possibly the most foolish – only time will tell.

Depending on when the investment was made in May 2019, the price of Bitcoin was anywhere between $5,000 and $9,000. Assuming the investor bought in around early May, at the recent $14,000 peak, a $250,000 investment in Bitcoin at $5,000 would have netted the bold Reddit user a 180% profit, taking the $250,000 and turning it into $700,000 had he sold the top.

A $250,000 investment in $5,000 Bitcoin would result in holdings of 50 BTC. Bitcoin has been predicted to reach prices ranging from $100,000 per BTC to as much as $1,000,000.

Risk Versus Reward: How Much Could The Reddit User Earn?

If Bitcoin reaches $100,000 per BTC, it would represent a 1,900% increase in the investment and would take the total value to $5,000,000, earning the investor a $4,750,000 profit.

If Bitcoin reaches the highest predicted amount – a prediction that John McAfee is willing to bet his manhood on – it would earn the investor a nearly 20,000% ROI, and take the total value of 50 BTC to over $50,000,000, with a profit of just under.

Of course, these numbers are only possible if Bitcoin reaches such lofty predictions. The other factor is a matter of when this occurs, and if it does at all.

On the flipside, most investors in the first-ever cryptocurrency agree that the asset will reach such incredible values, or fall to zero and disappear from existence – with very few scenarios possible in between. Bitcoin either fulfills its potential and replaces fiat currencies, or it doesn’t.

If Bitcoin does fall to zero, it would represent a total loss for the investor, and he’ll have thrown away $250,000 he had just won via a scratch ticket.

Related Reading | Make It Or Break It Time For Bitcoin, Rally In Jeopardy If Support Is Lost

If you were to win the lottery, would you take the same risk this bold Reddit user did? If you do, just be sure not to tell the world you’ve done so, as the second most important advice crypto investors are given after the “don’t invest more than you can afford to lose” is “never disclose your crypto holdings.”

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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