The €1M Bitcoin retirement plan reaches 200K: 'It's not too late to invest'
Motivations for buying Bitcoin (BTC) are numerous: a hedge against inflation, financial independence or even hopes for a Lamborghini and life in the sun.
For “Mr. ERB,” a keen blogger and Bitcoin enthusiast, it’s all about retiring early. ERB keeps a detailed account of his finances on his blog and spoke to Cointelegraph about his Bitcoin retirement plan.
He told Cointelegraph that he first “got interested in Bitcoin in summer 2017,” when a coworker briefly brought up the decentralized peer-to-peer currency.
However, “the price was about 2,000 euros at that time and I thought it was too late for investment.”
A familiar story for Bitcoiners when they first enter the space, ERB told Cointelegraph that he soon stumbled across a Bitcoin podcast where Trace Mayer predicted Bitcoin would hit one million dollars.
Their interest in the FIRE moment (financial independence, retire early) coupled with their newfound passion for Bitcoin changed his mind:
ERB hatched the retire with Bitcoin plan setting a target retirement goal of €1,000,000 by contributing €500 a month, every month. His first contribution–or the first time he ‘stacked sats’ was in 2017; five years later, “the success has obviously been great,” he told Cointelegraph.
“I don’t think I could have made similar returns on any other strategy. Not to mention, the bitcoin strategy is extremely simple and doesn’t require active investment management. You buy and you hold, and then you keep buying more.”
The blog ERB runs details how the current return on investment is over 450%. Compared to using the S&P as an investment vehicle (44%) “that’s a 10x, and it’s going to be 100x.”
Over the course of the investing journey, ERB has gleaned valuable lessons and speaks cogently and
Read more on cointelegraph.com
