From Gardener to Multimillionaire: The Secret Life of a Crypto Millionaire

From Gardener to Multimillionaire: The Secret Life of a Crypto Millionaire

Basti is a multimillionaire who, unnoticed by many, works as a gardener in a cemetery on the outskirts of Dortmund. His colleagues and his boss have no idea that he earns as much every day as they do in a year. The crypto investor's career shows how closely one's personal lifestyle is linked to one's financial success. He loves plants and has built his fortune through smart investments in volatile currencies such as “Link”, “Quant” and “OHM”.

Juan S. Guse, the author of the book “A Thousand Times as Much Money as Now,” deals intensively with Basti and other crypto winners. Guse notes that many of these protagonists, despite having made a significant financial leap, continue to work in menial jobs. They present themselves as part of the economic middle class, while the classic definitions of this term no longer apply to many under the age of 40.

Crypto investments and ideological aspects

In his book, Guse addresses the ideological aspects of crypto winners who do not come from the IT sector and therefore have different perspectives on the financial world. He sharply criticizes the “turbo-turbo capitalism” in the crypto sector and the toxic images of masculinity propagated by influencers. This is also reflected in the fact that the protagonists have no interest in social engagement or donating. They attribute their financial success solely to their own performance and view “shit coins” as investments made by others.

Guse himself fell victim to a financial setback when he lost 2,000 euros due to a secret recommendation from Basti. This experience made him reflect on the prevailing feelings of envy and fear in the crypto market. His book gives exciting insights into the milieu of crypto winners and explains why many people in Germany invest in cryptocurrencies despite a limited technical understanding.

Crypto assets in the global financial system

The discussion about crypto assets as part of the future of finance is becoming increasingly loud. The Bundesbank highlights that up to 1.3% of transfers between September 2021 and June 2024 were made in crypto assets. Prominent figures like Donald Trump have even dubbed themselves the “crypto president,” and countries like El Salvador have adopted Bitcoin as an official form of payment. However, El Salvador abolished the requirement for merchants to accept Bitcoin in 2024 due to pressure from the IMF and low demand.

Bundesbank President Joachim Nagel expresses concerns about global economic stability and rejects crypto assets as reserve currencies. He emphasizes that Bitcoin does not meet the criteria for security and liquidity. Currently, crypto assets are primarily viewed as speculative investments, while the use of stablecoins is increasing. However, these could also entail risks in interbank payment transactions.

The future regulatory framework for crypto assets in the EU, known as MiCAR, is intended to create legal certainty and minimize potential risks. Central banks are also working on central bank digital currencies (CBDC) to strengthen financial stability and provide safer means of payment. A digital euro could offer an important alternative to non-European payment providers.

In summary, while crypto assets could play a larger role in the future of finance, they can by no means be considered a stable alternative to traditional currencies. The developments surrounding crypto investments and the associated social changes not only focus on the individual behavior of crypto winners like Basti, but also raise broader questions about the integration of these new financial technologies into the existing system.

Provides further insights into Basti and the world of crypto investors br.de, while bundesbank.de provides important perspectives on the challenges and opportunities of crypto assets in finance.