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The world of crypto is full of incredible trading tales.
From a trader losing entire life savings in a crash to another making Bitcoin (BTC) transfers to buy illegal drugs, there is nothing too outrageous that hasn't happened.
Recently, a crypto trader shared his story of how he bought Bitcoin with his 401(k) money but still works a job.
A worker claims he secretly converted his full 401(k) retirement account into BTC at the height of the COVID-19 pandemic. The decision was driven by financial panic and a belief that crypto could outperform traditional assets during the crisis.
The individual, who posted anonymously online, said he purchased roughly 30 BTC when the price hovered around $5,000. He made the timely move after being laid off from his job.
“I secretly bought bitcoin with all my 401k after I got laid off during the pandemic.
The investment worth around $150,000 at the time would now be worth millions of dollars. But he still pretends he's broke in front of his children even though he buys whatever his kids ask for.
The man works a job and doesn't seem to live lavishly. It means he continues living modestly despite what may be substantial unrealized gains.
The story underlines the importance of a long-term investment plan and an austere lifestyle.
The crypto market attempted a failed recovery on Nov. 27, with its total market cap barely rising to $3.12 trillion on Thanksgiving.
Bitcoin rose 1.6% in a day to $91,442.66, Ethereum (ETH) 0.5% to $3,037.66, and XRP 0.25% to $2.22.
