‘Bitcoin is my potential pension’: What’s driving people in Kentucky to join the craze

www.washingtonpost.com

This is a sobering glimpse into the world of millions of people buying into crypto because they plan to sell it later for more money. These are good people and I hope their investments work out for them, but solely chasing after returns tends to end poorly when all is said and done. 

He had invested in bitcoin almost two years earlier, so now Jacob Melin had a new house, a new truck, a new consulting business and a line of people coming into his office, trying to become wealthy as quickly as he had. One person said he expected to use a modest investment to “retire in 12 to 18 months.” Another said he wanted to use the proceeds to start a business. And a father of two talked about paying off his own student loans and buying several acres of land — all the things he did not see a chance to do with his income as a software salesman.

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