A report said that Reddit’s r/Bitcoin community with a username of “u/Bigtony96” announced to have sold their entire Bitcoin (BTC) stash to pay off their parents’ mortgage.
It has been reported that the Redditor unloaded a total of 6 BTC accumulated over the past three years to close out the remaining balance on their parents’ home. They said that there was enough money left over to cover taxes and, possibly, buy a new car.
However, the user said:
“Today is the day I’ve dreamt of for the past several years, and it feels so surreal.”
In the post, u/Bigtony96 explained their motivation for wanting to help their parents, whose restaurant business was ravaged by government lockdown orders.
Did this Redditor sell his Bitcoin too soon? https://t.co/ROKSUojOb8 — Cointelegraph (@Cointelegraph) January 7, 2021
u/Bigtony96 added:
“My parents are everything to me. […] They’re in the restaurant business and the pandemic forced them to burn through a large chunk of their savings, and they stress out over finances every single day. My dad always told me one day he’ll retire once the house is paid off, and that day is finally here.”
The report said that u/Bigtony96 did not specify exactly when the BTC was sold, as the sale occurred on Thursday, as evidenced by the title of the post:
“Just sold to pay off my parents’ mortgage.”
As reported, Bitcoin (BTC) price surged above $40,000 on Thursday, it took BTC less than three weeks to double in price from $20,000.
Source: Cointelegraph