Cryptocurrency Bitcoin: Google’s software engineer earned 67 lakh rupees by investing in cryptocurrency. Knowing that there was a mistake, what are Google workers saying?

Is investing in cryptocurrency dangerous? If the answer is ‘no’ to you, then you must know about a 22-year-old software engineer at Google. Ethan, a young man from California, planned to quit his job to become a millionaire in just 35 years. Because of which he built an investment portfolio of Rs.1 crore. He recently reported a crypto loss of Rs 67 lakh. He had an inclination towards investment from a very young age. But now he says, the decision to invest in crypto is actually a big mistake.

Ethan said he borrowed money and invested it in cryptocurrency. He lost a total of 67 lakh rupees in crypto. Ethan told the media that he has invested 33 lakh rupees in Bitcoin and Ethereum. He also invested around $100 in altcoins like Shiba Inu and Dogecoin. Once the price of bitcoin fell, he decided to borrow 12 lakh rupees and buy more bitcoins.

Ethan said he invested Rs 24 lakh in Bitcoin. 41 lakhs was earned from this. But from 2021, the price of Bitcoin started to decline and by 2022, the price of Bitcoin fell by 70 percent.

Ethan said, “As the crypto market started to fall, my losses increased significantly. Now I realize investing money in crypto was not the right decision. I borrowed money and invested, so now I am facing a lot of losses.” According to him, altcoins are also quite risky now. So he stopped investing in them. In such a situation, Ethan’s statement, “Invest only if you have money, it is not right to invest by taking money from someone.”

What is the current price of Bitcoin?

The most popular of the cryptocurrencies is Bitcoin. Currently Bitcoin price is Rs 22,68,081. Which was more than 44 lakh rupees in November 2021. That is, if a person had invested money in Bitcoin in November 2022, it would have halved today.