YouTube Blogger ‘Maybe I’m Crazy’ Decides To Invest In Crypto Vs A Down Deposit On New Home
Popular YouTuber Louis Thomas generated attention from the crypto community earlier today when he canceled a house purchase to invest in cryptocurrencies.
The video, released earlier today, is titled, “Maybe I’m Crazy – Just Cancelled Home Purchase to Buy Crypto Instead.”
During the eight minute video, Thomas explains his decision to cancel a home purchase to buy crypto.
“Less than half an hour before recording this video, I called my real estate agent to inform him that I was withdrawing my accepted offer on a flat that I was going to purchase to live in,” explains Thomas to his 96,000+ YouTube subscribers.
“With crypto crashing to new yearly lows, this could potentially be the buying opportunity of a lifetime, and I don’t want to miss out on it.”
This past week, the price of bitcoin and other major cryptocurrencies fell to year-long lows. Bitcoin reached a low of around $5,500, its lowest price since October 2017.
“Maybe I’m crazy,” admits Thomas.
Thomas isn’t new to the crypto space: since March 2017, he has uploaded dozens of crypto-related investment videos.
Thomas’s first video was titled, “Invested My Life Savings Into Bitcoin and Ethereum.” Thomas purchased bitcoin and Ethereum in March 2017. Assuming he sold at least some of those cryptocurrencies, Thomas made a smart investment decision. In April 2017, Thomas admitted that he was continuing to hodl even as crypto was reaching all-time heights.
Over dozens of crypto videos, Thomas has amassed a following of nearly 100,000 subscribers.
Today’s video explains Thomas’s latest investment decision. Thomas was just one step away from buying a property in his native England. He had been pursuing the real estate purchase for several months. All he had to do was make the payment.
Just as he was about to go through with that sale, Thomas saw the price of cryptocurrencies plummet to shocking low prices.
During previous drops, Thomas has advocated purchasing bitcoin. He has numerous videos referencing “20% off sales”, for example, when crypto prices dip.
This latest “sale” was too tempting for Thomas to ignore. Instead of buying real estate – one of the most proven investments in the history of civilization – Thomas decided to buy more crypto.
“This is real,” admits Thomas.
Thomas’s controversial decision has been greeted mostly with positivity. The video has amassed over 10,000 views, including 761 “likes” and only 38 “dislikes”. The comments section is filled with crypto evangelists praising Thomas’s decision.
“You’re a smart man. You can buy 2 homes when crypto moons next time. And have some crypto to spare,” writes one optimist in response to the video.
“Not crazy, brilliant, this is an AMAZING buying opportunity due just to the silly BCH/”Bitcoin SV” FUD!” writes another subscriber.
Nevertheless, not everyone was optimistic about Thomas’s investment decision.
“Lol…this guy will live in a box,” writes one commenter. “Absolute madness,” writes another.
It’s important to note that Thomas hasn’t bought any crypto using his home purchase savings yet. He’s waiting for the market to drop more before buying in.
“To be clear, I haven’t bought in YET. Waiting for the price to drop further,” explains Thomas.
In other words, even this noted crypto evangelist believes the bear market will continue for the near future. It’s unclear where Thomas feels the bottom of the market lies. However, it’s clear that Thomas wants to make a big crypto purchase when that time comes.