Bitcoin Family say they lost $1 million on their investment this year, but sold a lot at peak

The "Bitcoin Family" is down more than $1 million on their bitcoin investment since the world's most popular digital coin peaked at around $69,000 in Nov. 2021 — but patriarch Didi Taihuttu is as bullish as ever.
Taihuttu is buying back the coin daily, as he thinks it's bottoming out.
In 2017, Taihuttu, his wife, and three daughters liquidated all they owned, trading a 2,500-square-foot house and virtually all their earthly possessions for bitcoin and a life on the road. This was back when the price of bitcoin was around $900. Bitcoin is currently trading around $19,700.

The "Bitcoin Family" is down more than $1 million on their bitcoin investment since the world's most popular digital coin peaked at around $69,000 in Nov. 2021 — but patriarch Didi Taihuttu is as bullish as ever.

"I'm buying bitcoin daily," Taihuttu told CNBC by phone from a beach in Lagos, Portugal. "For me, the lesson I learned the last two cycles is — when the whole world is freaking out and when everybody is thinking that bitcoin will crash, I am slowly zooming out, and I'm buying bitcoin."

In 2017, Taihuttu, his wife, and three daughters liquidated all they owned, trading a 2,500-square-foot house and virtually all their earthly possessions for bitcoin and a life on the road. This was back when the price of bitcoin was around $900. Bitcoin is currently trading around $19,200.

Along the way, Taihuttu has exited his bitcoin position and subsequently bought back in, trading his coins at opportune moments.

"That's the bitcoin life," he said.

Taihuttu tells CNBC that he sold about 15% of the family's overall bitcoin holdings when the price fell to the $55,000 price level in late November.

"$55,000 for me was the confirmation that we would go lower," continued Taihuttu.

Extreme volatility is the price of doing business in the digital asset market. In the last decade, bitcoin has experienced two prolonged periods of depressed prices before it rebounded. In the previous crypto winter in 2018, bitcoin lost more than 80% of its value before bouncing back, eventually rising to its all-time high last year.

"There is still an aspect in crypto that we are waiting to see if another shoe will drop, if another entity will fail, if the credit cascade will continue," said Matt Hougan, chief investment officer at Bitwise Asset Management, in an interview.

"If your timeframe is a week, or a month, or even a quarter, I think there's still significant volatility. If you have a time horizon measured in years, then yes, this is a great opportunity to think about entering the market," continued Hougan.