Yves Welti was once consumed by his addiction to Bitcoin, which brought him immense debt, sleepless nights, and an ultimatum from his girlfriend. However, everything changed for Yves when the Bitcoin boom of 2017 allowed him to pay off his debts and achieve financial stability.
Yves, a lively insurance worker and Bitcoin enthusiast, spent three years trapped in a cycle of mounting debt and financial struggles. He took significant risks by investing heavily in cryptocurrencies, leading him deeper into debt. But his life took an unexpected turn when he is now able to drive a luxurious Lotus, symbolizing his newfound prosperity.
Yves hit rock bottom in June 2016, when he tearfully confided in his grandmother about his dire situation. She was the only person he felt comfortable sharing his predicament with, and her understanding and support provided him with some comfort. At this point, Yves had accumulated more than 90,000 francs in debt and had lost 180,000 francs in just two and a half years. Despite still earning money, he was unable to keep up with the interest on his loans, leaving him in a state of financial despair.
Witnessing the toll it was taking on Yves, his grandmother decided to lend him a helping hand one last time. After clearing some of his debt, she made him promise never to gamble with borrowed money again. Although Yves made this pledge, there were concerns that he might be a scammer when he was seen leaving a bank with a large envelope shortly after.
Yves’ addiction to Bitcoin initially began innocently in the autumn of 2013 when he was a 23-year-old university student researching cryptocurrencies for a seminar report. He eventually used some of his funds to purchase his first Bitcoin, unknowingly setting off a dangerous obsession.
Soon, Yves stumbled upon an arbitrage strategy that allowed him to buy Bitcoin on cheaper platforms and sell it on more expensive ones, resulting in an impressive monthly return of about 8%. He was so successful with this tactic that he decided to base his bachelor’s thesis on it, believing he had discovered a foolproof way to make money. However, his luck ran out when one of the exchanges he utilized went bankrupt, causing him to lose a significant portion of his funds. Despite this setback, he continued to rely on his arbitrage system.
As his greed grew, Yves ventured into margin and future trading, believing that leverage could multiply his gains. However, it also magnified his losses, especially considering the unpredictable nature of cryptocurrencies. This high-risk approach only deepened his addiction and further strained his sleep and personal relationships. His girlfriend eventually issued him an ultimatum, demanding that he choose between her and his Bitcoin obsession. Unable to overcome his addiction, Yves decided to continue gambling in secret.
Yves’ life soon turned into a monotonous routine of obsessively checking Bitcoin prices every ten minutes, losing sleep over market fluctuations, and isolating himself from others. His relationship with money became schizophrenic, as he continued shopping for deals despite his significant income, unable to make sense of his financial situation.
Although Yves briefly experienced financial success in the spring of 2016, turning 5,000 francs into 135,000 francs in just four weeks, his luck quickly evaporated, leaving him once again sitting on his grandmother’s sofa in despair. He believed that he would be burdened with debt for years to come, but fate had a different plan.
The year 2017 brought a significant change in Yves’ life. The Bitcoin market experienced an explosion, making it nearly impossible not to make money even with a cautious approach. True to his promise to his grandmother, Yves stopped borrowing money and only invested his own funds. With his methodical approach and the market surge, his Bitcoin holdings appreciated to over a million francs.
Yves achieved a major milestone when he cashed out 250,000 francs and finally paid off all of his debts. He fulfilled a childhood dream by purchasing a Lotus and indulged in extravagant purchases, such as rare cards from his favorite game, “Magic the Gathering.” Despite his sudden wealth, Yves remained modest, living in a shared flat and helping his roommate with rent.
Yves’ perspective on money has since evolved. He no longer attaches the same emotional significance to it; instead, he sees it as a tool rather than an end goal. He plans to create a micropayment system to repay online content producers. Even with over a million francs in cryptocurrencies, Yves sleeps peacefully at night and remains unfazed by market fluctuations.
Although driving his Lotus may attract attention, Yves remains grounded and avoids flaunting his wealth. He values genuine connections over appearances and even left his sports car in the garage for his first date with his current partner.
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