What happened to Andrei Jikh's stock portfolio? | Andrei adopts cryptocurrency.

new.blicio.us Follow Jul 01, 2021 · 2 mins read
What happened to Andrei Jikh's stock portfolio? | Andrei adopts cryptocurrency.
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Andrei Jikhn is an American magician and online financial counselor. He comes from a family of Russian circus artists. When he was seven years old, his father, a circus ringmaster, immigrated to America.

Andrei’s net worth is believed to be in the millions of dollars. He’s enthusiastic about financial independence because his parents struggled with money management and credit card management, resulting in massive debt. He was a card magician before becoming a youtuber, executing magic acts with playing cards.

Andrei quit his day job after being motivated by a buddy who had 300,000 YouTube subscribers. The youtuber has since extended to new platforms in 2019 such as Patreon and Amazon affiliate links as a source of side income.

While his current fame is based on personal finance and the stock market, he had supposedly dumped stocks in favor of cryptocurrency, according to an excerpt from his latest video:

I wired nearly $50,000 into Gemini, and I converted over $37,000 of USDC - into BTC.

At the time of making this video this investment is sitting at roughly $200,000. It’s made up of 7.5 BTC, and about 120 ETH. In addition to that I have roughly $10,000 in my Gemini account where I have set for it to invest that money at $2,000 a day.

If you’ve been living under a rock, you might have missed out on this new revolutionary thing called Bitcoin. The technical definition of it is it’s a “peer to peer digital currency that is decentralized and immutable”. It’s a money that is not controlled or owned by anyone because it’s decentralized.

There is a max 21 million supply of BTC and in the US there is around 112 trillion dollars in terms of household wealth. If we assume 1% of the US population is interested in investing, that’s around 1.2 trillion dollars. If we divide this hypothetical 1% demand by the max supply - we get a rough price of $57,142 per coin. If we get 2% of the population interested in investing the price doubles to $114,284 a coin.

The Global Wealth Report shows us that household wealth has reached 400 trillion and 1% to 2% of this wealth is 4 to 8 trillion dollars. Putting the same math to work we get each coin valued between $190k to $380k.

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