IF anyone has the authority to say, “I told you so,” it has to be the guy who predicted the Bitcoin boom a decade ago.
Davinci Jeremie urged people to take a risk on the cryptocurrency for as little as $1 (78 pence), but his desperate pleas were largely ignored.
However, he certainly had the last laugh – because the bets on Bitcoin’s success in the global market paid off enormously.
Though his sinister prediction was overlooked by his online followers, Davinci stuck to his guns and put his own money on the line.
The risk has since made him insanely rich – and the crypto king now has a net worth of more than $10 million (£7.2 million).
He’s never too far from a fast car, private jet or yacht full of glamorous women willing to take him for a ride.
Let’s hope Davinci gives a thought to those who dismissed his claims about crypto a decade ago.
The Chilean software developer first introduced Bitcoin to his audience in 2011, praising it as “amazing stuff.”
He admitted that he was initially even skeptical about cryptocurrencies, but changed his mind after digging deeper into it.
Two years later, Davinci returned to his YouTube channel to encourage viewers to invest in the virtual currency for as little as $1 (78 pence).
He said, “Look, for the price of a lottery ticket, you can hold bitcoin for 10 years and become a millionaire.”
“It’s time you stopped living in fear. If it goes to zero you lose $1, who cares?
“But if I’m right, I want you all to thank me. It’s not going to make me happy if you guys come back to me in ten years and say, ‘Dude, I wish I had listened to you in 2011 or 2013’.”
Back then, the price of one bitcoin for every dollar was $116.75 (£91.60) – but at its peak in 2021, its value rose to a whopping $61,000 (£48,000).
Despite the ups and downs that investing brings, it has stabilized for now and is currently valued at $30,000 (£23,500).
Davinci certainly did well with that, as a quick look at his Instagram account offers a glimpse into his lavish, bitcoin-funded lifestyle.
The tycoon vacation in cities like Dubai and Monte Carlo, relaxing on superyachts and partying with the rich and famous.
He previously shared a post posing with three bikini-clad women on a Flash cruiser off the coast of Mexico.
“A yacht full of women, you know I’m down,” Davinci wrote. “That was just a taste.”
Whether his path to wealth was a stroke of luck or a genius remains debatable — but the millionaire is certainly complacent about it.
Davinci told it recently CoinTelegraph: “Every once in a while something happens that makes poor people rich because they got it really, really cheap.”
“That was one of them. I thought I would be the hero of my community but no, they thought I was crazy.”
“They actually thought I was going insane.”
As a reminder of the confidence that started his path to success, Davinci now sports a giant Bitcoin ring on his middle finger.
In his Twitter bio, he describes himself as a “Family man, programmer, YouTuber and early Bitcoin adopter”.
Davinci is still a big fan of cryptocurrency despite conquering the sector and now mentoring aspiring investors in realizing their goals.
The risks of buying with cryptocurrencies
Investing and buying in cryptocurrencies like Bitcoin is risky.
Its value is very volatile and the city’s regulator, the Financial Conduct Authority, has warned investors that they should be ready to lose all their money.
Investing in cryptocurrencies is not a guaranteed way to make money.
You should also think carefully about buying with a cryptocurrency.
For example, Bitcoin has seen its price fluctuate wildly over the past few months, and the price can change almost every hour.
According to Coindesk, the price of one bitcoin was $40,258 on Jan. 9, but it dropped to $34,214 just three days later.
That’s a 15% drop.
These price fluctuations are risky for a business because you could sell an item at a certain price for one bitcoin and the value could drop shortly thereafter, leaving you with less money left over from the sale.
Likewise, Bitcoin’s price is up more than 21% since the start of this week, so it can be difficult for a buyer to get an accurate idea of an item’s price when its value changes daily.