A man who chose to bury cash in his garden is once again outperforming pretty much every ‘crypto-guru’ who will no doubt find their way into the social media comments around this article.
Simon Williams, 42, was relentless pursued online by all manner of scam artists after making the rookie mistake of ask about cryptocurrencies on social media earlier this year.
He told us, “Yeah, it was relentless, hundreds of comments, almost all identical, insisting I should contact this crypto guru, or that Bitcoin expert. Direct messages, people Tweeting me. None of them passed the sniff test, though.
“I mean, what sort of expert tells you to buy when the market is going up, and to also buy when the market is going down. Surely that is someone merely trying to relieve you of your money irrespective of market conditions?
“And I don’t know about you, but I struggle to trust any investment advice that relies on bots and fake social media profiles to promote it.
“So, with interest rates so pathetically low, I decided to bury some cash in the garden. It turns out I’ve outperformed Bitcoin by about 100%. My cash is now worth twice what it would have been had I been suckered in by any number of crypto-bros this year. A lucky escape, I guess.
“Look, if you want to invest in crypto, go for it. Personally speaking, I think fireworks are a much more entertaining way of setting fire to your money, but each to their own.
“But remember, the value of other people’s Bitcoin holding depends solely and entirely on your interest in buying it. There is no underlying or intrinsic value in Bitcoin. If you don’t buy it, or express interest in buying it, then they lose money – well, even more money – so take any advice to invest in Bitcoin from someone who owns Bitcoin with a sack load of salt.”