Yves Welti, a self-proclaimed bon vivant and insurance worker, was once plagued by massive debt, sleepless nights, and an ultimatum from his girlfriend due to his addiction to Bitcoin. However, his circumstances took a turn for the better during the 2017 Bitcoin boom, allowing him to pay off his debts and establish financial security.
Yves’ obsession with digital money consumed him for three years, leading to mounting debts, financial struggles, and strained relationships. He took significant risks by investing heavily in cryptocurrencies, resulting in deep debt and an inability to pay off even the interest on his loans. His life was in disarray, and he felt hopeless.
In his lowest moment on June 24, 2016, Yves confided in his grandmother, tearfully explaining his terrible predicament. She, being the only person he could trust, decided to help him one last time. She paid off some of his debt, and Yves promised never to gamble with borrowed money again. However, suspicions arose when he was seen leaving a bank with a large envelope shortly after.
Yves’ addiction to Bitcoin began innocently in 2013 when he was a university student researching cryptocurrencies. He purchased his first Bitcoin, and what started as a simple transaction quickly spiraled into an obsession. He discovered an arbitrage strategy that allowed him to buy Bitcoin on cheaper platforms and sell it on more expensive ones, resulting in significant profits. Yves was so successful that he decided to write his bachelor’s thesis on the strategy, believing he had found a guaranteed way to make money.
Unfortunately, Yves’ good fortune came to an end when one of the exchanges he used filed for bankruptcy, causing him to lose a substantial amount of money. Despite this setback, he continued to use his arbitrage system and ventured into margin and future trading, driven by his greed. These high-risk tactics, coupled with the volatile nature of cryptocurrencies, made his investments even riskier.
As Yves’ addiction deepened, he turned to credit companies to fund his gambling habit. He became obsessed with monitoring Bitcoin prices, which took a toll on his sleep and personal relationships. His girlfriend issued an ultimatum, forcing him to choose between her or his Bitcoins. Unable to overcome his addiction, Yves decided to continue gambling in secret, becoming a “zombie” who constantly checked Bitcoin prices and slept with his laptop on his knees.
Yves’ financial situation briefly improved in 2016 when he turned 5,000 francs into 135,000 francs in just four weeks. However, his success was short-lived, and he found himself back on his grandmother’s sofa, feeling hopeless once again. He believed he would be in debt for years, but fate had other plans.
The year 2017 brought a significant change in Yves’ life. The Bitcoin market experienced an explosive growth, making it nearly impossible not to make money even with a cautious approach. True to his promise, Yves stopped taking on debt and invested only his own money. With his methodical approach and the market surge, his Bitcoin holdings appreciated to over a million francs.
Yves reached a major milestone by cashing out 250,000 francs and finally paying off all of his debts. He fulfilled a childhood dream by buying himself a Lotus and indulging in luxury purchases. Despite his newfound wealth, Yves remained modest, living in a shared flat and assisting his roommate with rent.
Yves’ perspective on money has evolved over time. He no longer has an emotional attachment to it, viewing it as a tool rather than an end goal. He aims to create a micropayment system to repay online content producers. Despite having more than a million francs in cryptocurrencies, Yves sleeps peacefully at night and remains unaffected by market fluctuations.
While driving his Lotus may attract attention, Yves remains grounded and avoids showing off his wealth. He prioritizes genuine connections over material possessions, leaving his sports car in the garage for his first date with his current partner.
In conclusion, Yves’ journey with Bitcoin addiction was filled with hardships and setbacks, but he managed to turn his life around during the 2017 Bitcoin boom. He paid off his debts, established financial security, and redefined his views on money.
