Family bets the farm on Bitcoin

Family bets the farm on Bitcoin

Over in the Netherlands, a family are betting big on Bitcoin. Along with his wife, three children and cat, Didi Taihuttu is in the midst of selling everything they own. From the clothes on their back to their 2500 square foot home, the intention is to sell the lot and trade it in for Bitcoins. To help with the upheaval, they've decided to move to a campsite, where they intend to wait until Bitcoin takes off.

No regrets!

Although it's only been a few months since Taihuttu decided to trade everything in for Bitcoins, the 39 year old has stated that he doesn't regret a thing. With the family seemingly willing to sell pretty much everything, including three cars and a motorcycle, there's no doubt that they're showing an extraordinary amount of faith in the cryptocurrency. 

Enough for now

Taihuttu once mined for Bitcoin, but he has made the transition to trading it and other cryptocurrencies, including XLM and Ripple. As it stands, his family is still in the process of liquidating all of their assets. All of the proceeds are invested into cryptocurrencies as and when. The income they receive from trading covers their food and other basic needs, which is enough for now.

Rolling the dice

The family made the decision to roll the dice and gamble on Bitcoin earlier in the year. After seeing the value of the currency rise to more than $5,600 per coin, Taihuttu is confident its value will quadruple by 2020. He's not alone in his prediction, either. The head of research at Fundstrat, Tom Lee, also believes Bitcoin will be worth significantly more in just three years. This month, outstanding Bitcoin has reached a value of $100 billion, making it worth more than Goldman Sachs. There are even plenty of experts predicting that the value of the crypto currency will surpass $1 trillion within the next decade. As with all investments of this nature, however, Bitcoin is prone to seismic price moves, and only time will tell as to whether the Taihuttu family's gamble pays off.

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