An Investor Who Purchased Cryptocurrencies With Loans Saw His Portfolio Drop By 85%

A cryptocurrency investor, who secured a six-figure loan to invest in virtual currencies, has shared his story on how the value of his portfolio drastically reduced to a staggering 85%.


A Reddit user, simply identified as Crypthomine, recently uploaded the picture of his repayment schedule, which contains the loan he was able to secure in December 2017. The photo signified the loan to be in six figures.
The crypto investor approached the Emirate Islamic bank for a loan, valued at around 338,000 dirhams or $126,000, with a total astounding amount of 393,296 dirham, which is equivalent to $147,000, including interest. The Redditor agreed to pay the bank 8194 Dirham or $3067 monthly until December 14, 2021.
The investor, while relaying his experience wrote,

“Here is my bank installment related to the loan I took to invest in crypto. Still, three and half years until I’m freed. Until then, I’m working for nothing, and I’m at 85% I hope it gives you a lesson.”


The crypto investor, Crypthomine, invested heavily in Litecoin, NEO, and Ethereum cryptocurrencies, and also in other cryptocurrencies that lost most of their values. He angrily described the other cryptos as “some shitcoins that lost 95% of their value already.”
In truth, most of the crypto coins lost their values during the time in question, and it affected investors and traders alike.
NEO started the decline in December 2017, falling heavily from $75 to $16.69 at the time of writing, amounting to a 78% drop in value.
XLM also did not fare better, as it dropped from $0.275 to $0.225, which is an 18% drop in value. Litecoin also lost 83% from its December high of $320 to about $55, and the same can be said about Ethereum.
The fall in the value of the coins greatly affected most investors, Crypthomine is just one out of many cases.
Though, the prices are shaping up again. Investors are always advised to seek professional experience when making crypto investments. This is mostly due to the volatility of the market, and only the players know the name of the game.

Related posts
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTETFNewsxbtusd

Bitcoin May Never Go Below $50k Once An ETF Is Approved, Declares On-Chain Analyst

Bitcoin may never drop below $50k asserts on-chain analyst Ki-Young Ju. But as usual, there are conditions that follow this possibility. In a tweet, Ju analyzed that Bitcoin could follow the same path that gold took in 2004 when the first…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Quarterback Star Tom Brady Breaks Internet After Showing Interest In Bitcoin

Tom Brady, the American athlete who is widely regarded as the “greatest” quarterback in NFL history is the latest celebrity to show interest in the world’s most valued cryptocurrency Bitcoin. Brady who has a massive Twitter following of 1.9 million…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Almost $200 Billion Worth Of Bitcoin Is Currently At Risk – Report Warns

A recently published 2021 crypto report by Opimas LLC, a finance-based management consultancy firm, has revealed that approximately 3,480,000 out of the world’s mined 18.5 million Bitcoin, stands vulnerable to attacks as a result of improper safekeeping. The 36-page report…