Previously, when Bitcoin price remained stagnant for a long time, an American footballer, Caleb Pressley, invested his Bitcoin in other cryptos and lost all his coins, unfortunately.
However, Pressley never lost hope in Bitcoin but still believes it has more to offer. Amidst Bitcoin price steady uptick recently, other Altcoins are also surging in price thereby attracting interest from investors and traders.
How Caleb Pressley lost all his crypto-investment
In this week’s Anthony Pompliano podcast, Caleb Pressley featured as the guest where he narrated how he lost his money moving his Bitcoin stakes investing in Altcoins.
Pressley in the podcast explained that he bought his first Bitcoin in 2017 and made double the amount he invested a few days after. But when Bitcoin price slowed he decided to invest in Altcoins explaining that altcoin grew by 30 – 300 percent while Bitcoin was below 1 percent. It made him move all his money from BTC to these Altcoins.
Unfortunately for Pressley, he lost all the money with the bearish trend.
Pressley still believes in Bitcoin
The North Carolina Tar Heels Football Team quarterback, however, still believes that Bitcoin would become more popular with more people adopting it.
Pressley explains that the world is becoming more digital and people operate more virtually now than before. Hence, people have to consider Bitcoin as a store of value including the older generations.
The American footballer also believes that the younger generation would be more interested in investing in Bitcoin than the older ones. Pressley only fear for Bitcoin is that the government or authorities could become more strict and get rigid with regulation on Bitcoin.
The footballer also stated that a small group of people might own all Bitcoin later in the future owing to its 21 million coin limit.