Yep, I know what you’re thinking.... Another middle-aged guy talking about Bitcoin.
Before your eyes start to glaze over, I know that look.... It’s the same one my wife has given me, many times before. But as a 46-year-old husband and father of two amazing (sometimes crazy) kids, I want to share my Bitcoin journey with you. From self-custody of our personal Bitcoin, to investing all our super into Bitcoin, setting up and managing an SMSF and working with The Bitcoin Adviser; it’s not as complicated as what you might think.
To give you some context, I’ll rewind back to 2006 when I left The Australian Army. As a single bloke trying to purchase my first home, I was completely priced out of the market, with house prices skyrocketing. I then started working in the Gold mining industry and still couldn’t afford a new home on a single income. Two years later, my girlfriend (now wife) and I managed to buy our first home at the peak of the GFC (Global Financial Crisis).
Little did I know that Bitcoin was just getting started during that same time.
I first heard about Bitcoin in 2013, when it reached over $1000 AUD per coin and matched the price of an ounce of gold. A work mate asked me about it, and at the time, I quickly dismissed it as some non-tangible digital made up internet money. I didn’t take the time to understand Bitcoin; to understand its fixed supply and why inflation was being caused by government money printing and debasing the currency.
It wasn’t until 2020 when Bitcoin truly registered on my radar.
While the government was busy reacting to COVID and causing inflation by pumping liquidity into the financial markets, much like the house and asset prices did during the 2008 GFC, Bitcoin was still around, going from strength to strength and rapidly increasing in value. Diving deep into the Bitcoin rabbit hole, I soon realised that our fiat system was at fault.
Fast forward to early 2022, I finally set up our personal Bitcoin in cold storage, after almost a year of research. This was a steep learning curve, but ultimately a rewarding process knowing we were investing in our family’s future wealth.
Setting up our Bitcoin SMSF in 2024 was a whole new kettle of fish! At the time, we had a mainstream Financial Adviser managing our superannuation, who refused to entertain the idea of having Bitcoin as part of our superannuation investments due to its volatility.
This is when I turned to The Bitcoin Adviser.
They walked us through setting up an SMSF in a multi-sig collaborative custody vault and helped roll our superannuation over. They truly made the process so easy for us. In fact, the most difficult part of the process was dealing with existing banks and traditional financial institutions. Being restricted to their slow analogue systems and business hours highlighted how archaic our banking system really is. The government requirements for SMSF registration were also time consuming, but not complicated.
But for us, it was all worth it, when our Bitcoin SMSF was set up on 26 April 2024, and the Bitcoin price was $97,950 AUD.
Since the 26th April 2024, our Bitcoin SMSF has achieved in 18 months what would’ve otherwise taken 8.5 years in the best performing superannuation fund in the country (8.3% average performance over 10 years).
Putting this into even more perspective, the amount of superannuation it took me 28 years to build was literally doubled in only 18 months of setting up our Bitcoin SMSF.
I’ll let that sink in...
For anyone looking at setting up a Bitcoin SMSF, or wanting exposure to the best performing asset, I would highly recommend the team at The Bitcoin Adviser. I always felt welcomed without any pressure to sign up for their services, and my questions were answered with transparency. Their wealth of knowledge made the process easy to work through and understand.
Thank you Michael and Alannah for sharing your story. It's great to hear a client's perspective, and hopefully it encourages others to take control of their financial future. If this story strikes a chord with you, and you'd like to replicate their success, we'd love to hear from you.