'Crazy Stuff': Daredevil Investor Goes Into Debt By Maxing Out 8 Credit Cards To Buy Bitcoin
Portfolio Pulse from Ivan Crnogatić
A cryptocurrency investor known as Sunny Po on X went viral for maxing out 8 credit cards to buy 1.4488 Bitcoin at an average price of $37,443, accruing $54,251 in debt. As of Feb. 27, Po reported unrealized profits of $27,321 and plans to manage the 0% APR on his credit cards until November 2026. The strategy has attracted attention on crypto Twitter, with mixed reactions. Bitcoin's price has recently surpassed $60,000, raising both concerns and excitement about such speculative investment tactics.
February 29, 2024 | 5:02 pm
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Sunny Po's high-risk investment strategy of using credit card debt to purchase Bitcoin has gone viral, with Bitcoin's price recently surpassing $60,000. This reflects the speculative interest and potential for high returns in the cryptocurrency market.
The news showcases a significant speculative investment in Bitcoin, which has garnered widespread attention and could influence investor sentiment. Given Bitcoin's recent price surge, such stories may contribute to short-term price volatility as they highlight both the risks and potential high rewards associated with cryptocurrency investments.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80