Relationships have reportedly been strained as a result of cryptocurrency investments, leading to breakups and even divorce.
According to a February 2015 Reddit post, a then 28-year-old woman using a disposable account claimed that she was furious with her husband because he had not stopped buying Bitcoin (BTC) without consulting her since 2013. She estimated that he had invested. More than $22,000 in the crypto asset in the two years leading up to the post. When the price soared above $1,000 but also fell below $200.
She explained, “I kept telling him to sell because the price was rising. And he promised me a big year in 2014.” “As the price dropped, he continued to buy more. Although he earns more money than I do. We are building a future together and share a bank account. He kept telling me that this was for our children’s college funds, to buy a house, and so on.”
Many people thought investing in Bitcoin and cryptocurrency
Many people thought investing in Bitcoin and cryptocurrency was financially immature at the very least in the early days of the technology. When digital currencies were frequently use as a running joke for late night talk shows and comedians. Even with the BTC price back above $50,000, some people continue to do so.
The Redditor described her husband as “brainwashed,” alleging that he was “robbing [her] of happiness” and ruining her career by bringing up Bitcoin at her marketing events.
“After a recent price crash, he actually bought more using our vacation fund. That I have been saving away for and planning. All gone, in Bitcoin never to be seen again.”
It’s unclear whether the couple remain together after the post’s response. Or if the husband sold some or all of the Bitcoin to alleviate his wife’s financial worries. The user compared her husband to a drug addict. And contemplated “staying in a hotel for a few weeks” to consider divorce as a possibility.
With the benefit of hindsight, however, the husband’s early investment could easily have paid off in the millions of dollars. Even if he bought Bitcoin when it was worth $1,000 in November 2013. The 22 coins are now worth more than $1 million.
Redditors encouraged the user
Many Redditors encouraged the user to separate her finances and consider divorce proceedings. Because the story posted on the r/relationships subreddit rather than a pro-crypto group like r/Bitcoin or r/cryptocurrency. Few crypto enthusiasts commented on the thread, but one predicted that BTC would one day be “worth fortunes” and advised the husband to keep HODLing.
Following the 2017 bull run, which attracted many newcomers to the crypto space, another Redditor claimed that his girlfriend was considering breaking up with him due to “a huge investment in cryptocurrencies.” Digital currencies, on the other hand, appear to have played a minor role in his story, as the user claimed he crashed a car while driving drunk and was pressuring his significant other to quit her job.
Though many crypto traders understand that the price of Bitcoin. And other digital currencies will likely remain volatile, major companies’ adoption. And investment have helped push the technology closer to the mainstream. Making it appear more responsible for investors to get in on the action sooner rather than later. Shark Tank star Kevin O’Leary has already stated that he has increased his Bitcoin holdings. While Third Point CEO Dan Loeb recently state that he has been doing a “deep dive into crypto.”