Niklas Nikolajsen, a bitcoin millionaire, is not taking a retirement from his crypto millions. Instead, he is diversifying his wealth and more importantly – he continues to buy Euro 5000 worth of Bitcoin and Ethereum every day (about $150,000 per month).
Some might argue that there is no surprise that a person who made his millions is pumping a few hundred thousand dollars a month at Bitcoin. However, Niklas is personally vested in taking the decentralized revolution forward. He found Bitcoin Suisse to take his vision forward.
You can say that Niklas is walking the talk. You will notice that he is very passionate about Bitcoin.
Even though he made his multi-millions through bitcoin, when asked about ‘how many times does he check bitcoin prices’, Niklas replied “probably 100 times a day”.
“Why would I want to go to Amazon or something when the adventure here is 10 times more exciting,” Niklas quipped referring to the ups and downs of the Bitcoin market.
Volatility disturbs the newbies, not me
Talking about the panic that the bitcoin and crypto volatility creates, Niklas compared the volatility to seasickness and said “if you are not used to sailing…you are new to ship…you can easily become seasick,” he said “but if you work on the ship, even in the heaviest storms you do not get seasick.”
Niklas seemed unfazed by the volatility in the market.
“I sleep like a rock,” he said smiling.
Demand for Bitcoin is growing because demand for decentralization is growing
Talking about the price action Niklas is very optimistic that bitcoin is gaining traction in the market and demand for what bitcoin can bring forth is becoming evident.
“When I see bitcoin prices go up I see people choosing bitcoin for their fiat,” he said “when you set peer to peer money free then people who live from controlling other people and suffocating their lives will have a very hard time to do so.”
Bitcoin is Gold 2.0 but you don’t have to choose one or the other
Niklas loves bitcoin better than gold however he is invested in gold as well.
For one, he likes the fact that gold is not man made and unlike fiat which can be printed by few and make masses to work for what they made out of thin air.
“My interest and love for gold is what led me to learning about bitcoin,” Niklas said, “so you can [in] both.”
However, Niklas thinks Gold is still controlled in terms of supply and who gets hands on it.
That is where Bitcoin shines. It is not controlled by strong arms or the wealthy. Everyone has an equal chance to get (even if a fraction). You can also send bitcoin to someone on the other side of the planet while you cannot do that with Gold.
“Bitcoin is Gold 2.0,” he said.
Only thing working against bitcoin in comparison to gold is its history. Bitcoin doesn’t have a lot of history to back it up but gold has been used for thousands of years.
“If you want to be ultra-conservative…gold is probably a safer option compared to gold,” he said “but as we have seen bitcoin has outperformed gold in the last 10 years.”
PoS may solve the energy consumption of Bitcoin
Niklas commented on the need for electricity to use bitcoin vs. gold that does not use electricity to transact.
“[In the current proof of work system] bitcoin does need electricity,” Niklas admitted with a caveat “once the [PoS] technology is proven, this [will be] one of the things bitcoin will adapt.”
“Production of gold, just like production of bitcoin, does need a lot of energy,” he clarified.
Comparing bitcoin energy consumption with facebook data centers, banks and other places, Niklas said “I don’t think it is so important if energy is consumed or not but how that energy is produced,” taking a stab at the methods of production of energy that pollute the water bodies and environment.
Niklas does have a point in terms of comparing the energy used by gold production, transportation, banking industry with their huge offices to bitcoin which does consume electricity at production but once produced it takes micro units of electricity to transfer from one wallet to another (and can be hosted on a mobile phone instead of needing a huge infrastructure.)
Should we buy bitcoin now?
Anyone who watches this interview will have great respect for Niklas. He was not baffled by the questions asked by the interviewer and answered all of them with great maturity.
When asked about ‘should people buy bitcoin now?’ Niklas answer was indicative of his grounded demeanor.
“The best investment you can ever make is knowledge,” Niklas answered “you should probably never throw yourself into something you don’t understand just because…somebody said something, that can be risky.”
At the end of his answer to that question Niklas encouraged people to put a small diversification in Bitcoin and said “now is not a bad time.”
Is having riches solve all problems in life?
“Difference between not having any money and having little money is huge,” Niklas shared his wisdom, “however, the difference between having some money and a lot of money is not as big as people think it is.”
[One of the greatest pleasures in life is to be able to help others], Niklas said.
We highly recommend any crypto fan and entrepreneur to check out this interview.
Niklas Nikolajsen founded Bitcoin Suisse (https://www.bitcoinsuisse.com) in 2013 together with other Bitcoin pioneers. The company is a Swiss-regulated finan…
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