Dan Bilzerian made millions from crypto after taking a friend’s sage advice

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Influencer and poker player Dan Bilzerian has described how he won millions of dollars from cryptocurrency after following the sage advice of a friend.

There are several ways people get involved in cryptocurrency. Most do this very intentionally after researching stocks and prices, while others hear about people making millions and just decide to throw their hats in the ring, hoping for the best.

Bilzerian was neither, and in fact got involved in currency rather reluctantly after winning “millions of dollars” playing poker games. The person who owed him the money claimed that bitcoin would be the best way to give it to him, but Bilzerian was unhappy with the offer as it would mean he had to pay a 5% transaction fee – l equivalent of $50,000 (40,300) for $1 million (807,000)

Recalling the events in a podcast with Jackass star Steve-O, Bilzerian said: “Ahh, that’s crap. I don’t want to pay five percent…”

Left with a few easy options to get his money back, the influencer eventually decided to hand over the transaction fee and get paid in bitcoin, which he put on a laptop and quickly forgot about, as it was only worth about $300 (240)/piece. at the time.

It wasn’t until a few years later that Bilzerian remembered owning the crypto, when a friend told him how it “was going.”

Bilzerian realized he was sitting on a bitcoin fortune. Credit: Image Press Agency / Alamy Stock Photo

Unfortunately, so much time had passed that the poker player completely forgot his computer password, but he finally managed to get back and realized he was sitting on a fortune.

Rather than sell immediately, he decided to buy Ethereum and other crypto assets, riding the “wave” and making “a lot of money” because he was “able to call such good times for collect”.

As he continued to make money, Bilzerian received an offer from a friend to buy more bitcoin, to which he replied, “Bro, I have so much fucking bitcoin. Not needed anymore.”

He told the friend to “hang in there”, but that’s when he got the advice that would make him even richer.

The friend said, “If you’re not a $17,700 (14,400) buyer, you should be a seller.

Bilzerian was advised on when to sell. Credit: picturelibrary / Alamy Stock Photo

Bilzerian thought about the advice and realized that “if you don’t want to buy at a certain price, you should probably sell, if you think it’s more likely to go down than up”.

He sold when the price rose to $16,500 (13,000), getting rid of “almost all” of the crypto. With his friend’s advice, he was able to use the crypto as even more lucrative, later buying back into the currency and bumping it up until he resold “at about $58,000 (46.8,000)”.

The crypto world is unstable, but Bilzerian’s grip on it has changed thanks to his friend’s advice. So, “if you’re not a buyer at that price, you should sell”. Do what you want with it.

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