Cointelegraph speaks with real life Bitcoin millionaires to find out how ordinary people deal with a dramatic surge in their net worth.
Around 1,500 Bitcoin wallets top the million-dollar mark each day. How does your lifestyle and mindset change when you become a newly minted crypto millionaire?and not necessarily individual people, but it highlights a lot of people are becoming richer than they ever dreamed. And that's just Bitcoin — even more people are growing wealthy with altcoins and memecoins.halving, two crypto ETFs and a political seachange in Washington, many expect a bull run ahead.
He said getting that license plate was “my tongue-in-cheek” way of saying, “I made it big despite not being a great student.” Finman dropped out of school at 15, trying to pursue a career in robotics. His greatest pleasure as a crypto millionaire is the feeling that people around him probably think he’s a no hoper, as Gonzo “pretends to be poor” and dresses down despite probably being richer than most other people in the room.
As they’re still trying to build wealth they remain very aware of their expenses. Finman admitted, “Definitely, I am more willing to give to causes I care about and help out friends and family,” he said, but added “I’m also more careful about avoiding frivolous spending.”Mental health professional Elizabeth Sterbenz, who has experience in financial therapy, told Cointelegraph that it’s important to understand “your boundaries are around your personal wealth.
He consciously decided to “only share the fact of being a millionaire with people who have the same or more wealth than me to avoid any envy factor.” As a result he recognized that he could still be the same stingy person he was prior to becoming a crypto millionaire. And thanks to volatility, one factor that crypto millionaires face daily is the possibility of losing it all; Finman admitted that “seeing your net worth fluctuate so dramatically messes with your head.”
Finman believes “the key is staying diligent and making smart moves” as “wealth can be easily lost in crypto.” She explained that “there can be some overlap between investing and gambling,” so some fundamental questions must be asked, such as whether you have lost time from work or school because of trading. Has trading impacted your relationships with family or friends? Have you had difficulty sleeping because of trading? Have you spent more time trading than you planned?
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