Dutch Mania Again: Family Sells Everything to Buy Bitcoin
The latest item from bitcoin bubble watch is Mr. Didi Taihuttu, who, because he believes, I mean really believes, "Money has to evolve, and it's evolving now to cryptocurrency," has the bright idea to sell everything and put it in bitcoin.
The Dutch (irony noted) family of five is getting rid of their 2,500-square-foot house, all their creature comforts, even their shoes and loading up on cryptocurrency’s #1 brand. CNBC reports the Taihuttu family has moved to a campsite in the Netherlands, to patiently wait for bitcoin to really take off.
"We were just like – sell it, sell it, what can we lose? Yeah, we can lose all the material stuff. Yeah, we can lose all our money. Yeah, we don't have three cars anymore. We don't have the motorcycle anymore. But in the end, I think we, as a family, will still be happy and just enjoying life."
One has to admire Mr. Taihuttu’s conviction. Of course, if he’d have done this in 2009, he’d now have stupid money (as we used to say at the height of the Las Vegas real estate bubble). But, he figures, “We are just lucky to realize that we are in the middle of it right now."
He made this decision without consulting his wife (don’t try this at your home). "I was shocked," says Taihuttu's wife, Romaine. "I was like, 'What the hell is bitcoin and crypto coin?' It was a lot for me to handle. But then I got into it, and it made me believe it was a good change in our lives -- for my children, for my husband, and for myself."
Taihuttu has a future in sales, or diplomacy.
MacKenzie Sigalos writes, for CNBC, “The family decided to make the gamble on bitcoin this summer, after seeing its swift climb this year. It's already surpassed $5,000 a coin, and Taihuttu thinks it could quadruple by 2020.”
While he may have convinced his wife, Taihuttu would have a tougher time with Jim Rickards who said today “"It’s the only topic where I agree with Jamie Dimon. He says it’s a fraud. I agree. I call it a Ponzi with no one in charge."
Meanwhile, bitcoin’s price marches onward and upward. More Bitcoin plungers may be coming to a campground near you.