🎰 All in since $900

The term “all in” has been watered down. 

Instead of putting everything on the line — risking it all to achieve a singular goal — in most cases these days the phrase really just means that most of one’s attention is on this one thing. For now.

Not so for today’s Supply Shock podcast guest, Didi Taihuttu, the living embodiment of going all in on Bitcoin.

Taihuttu made global headlines in 2017 and 2018 when he and his family sold their house (and most of their other assets) in Venlo, the Netherlands, and bought bitcoin instead.

From there, the Taihuttus went full digital nomad, traveling the world and living off their crypto habits, years before the widespread rise of the laptop class. This earned the Taihuttus the fitting title of “The Bitcoin Family.”

Their house sold for around 300,000 euro (442,000 euro adjusted for inflation and $512,000 at the current exchange rate). 

BTC went for about $4,300 at the time, so the house alone would’ve converted to about 81 BTC — now valued at nearly $10 million. That would be a return of more than 2,200x.

Taihuttu actively traded about 20% of his crypto, going by initial reports, so his actual position and profits likely look much different. 

And besides, he had been tinkering with mining bitcoin since as early as 2013 before temporarily switching to mining dogecoin until 2016.

“ When my father died, I got a huge burnout. Massive burnout. And I needed to reset mentally, physically. So we went on a trip and during the trip people started to call me, ‘Do you still own the bitcoins and your dogecoins and everything? The price is going up!’”

“And I was like, ‘Man, I'm on the beach. Leave me alone.’ But they kept calling, texting, and that's when I first looked into bitcoin again during the trip that we had in Thailand at that moment. And then in Bali, I just decided that my family, we want to keep living this life this way.”

Taihuttu checked his balances and found that prices had gone up so much that he was able to pay back his seven-month family trip with the profits.

“And that's when I sat on the beach. I told my wife, either we take a step now or we keep running the hamster wheel forever. So why not sell the house? Why not sell the company? Why not sell the bikes, the cars, the motorbikes, the quads, the kids toys, the clothes, holiday home, everything, and just go all into bitcoin.”

Catch the full episode on YouTube, Spotify, Apple Podcasts and X.

— David

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• The US Marshals Service has disclosed holding 28,988 BTC ($3.42 billion), which is far below the 198,000 BTC or so that many expected. It’s still unclear whether the remaining bitcoin is held by other federal agencies or if the Marshals sold the difference.

• A new SPAC in town: Bitcoin Standard Treasury Company is set to go public in a merger with Cantor Equity Partners I, with Adam Back as CEO. BSTC will launch with 30,021 BTC ($3.54 billion) on its balance sheet, with up to $1.5 billion in financing ready to go.

• French lawmakers have proposed a five-year trial for mining bitcoin with surplus energy.