Several months ago, a 40-year-old man decided to really invest in a specific form of cryptocurrency.
He made the decision after he heard some chatter about this company entering a new partnership that he knew would make it so much more valuable than it already was.
“I thought I could turn a few million USD into 15 or even 70 million overnight,” he explained. “High on the drug of opportunity I invested our life savings and all the money in my business accounts.”
“The date of the announcement came and went and nothing happened. The price was steady for a few weeks and I held hope that people’s faith in the technology would support the price.”
“Last week the price unexpectedly plummeted leaving me 2 million in the red. I thought I could hold the remaining amount until the announcement was made, but I, unfortunately, had to withdraw it to pay my business’s operating costs.”
He currently is the owner of a machine shop that creates parts for planes, and he needed to pay for his day-to-day costs of doing business.
Now, he’s left without any money to purchase the materials he needs to create those parts in his shop, and he also won’t be able to pay his utility bills on time in another month.
He thinks he only has about 2 more months left before his own business blows up because of the money he lost in cryptocurrency, and on top of that, his 35-year-old wife has no clue that he lost their entire life savings.
His wife never touches their finances, so that’s why she doesn’t yet know about what just happened.