A Reddit user "u / Bigtony96" on Thursday shared that he had to sell Bitcoin (BTC) to pay his parents' debts.
According to his post on the r / Bitcoin subreddit, this person sold all the 6 BTC he accumulated over the past three years to pay off the remaining home mortgage debt to his parents. He said that the remaining money after repayment is still enough to pay taxes and buy a new car.
"Today is the day I've been dreaming of for years, it feels so bizarre," Redditor wrote.
u / Bigtony96 explained that the motivation to sell BTC was to help parents who are running restaurants but lost money due to the effects of the Covid-19 epidemic.
[ “Parents are everything to me. They are in the restaurant business and the pandemic forces them to spend a huge amount of their savings, and they don't start off financially every day. My dad always told me he would retire one day after paying off the house, and that day has finally come. ” ]
While u / Bigtony96 did not disclose the specific date he sold BTC, the move is likely to take place on Thursday, as evidenced by the title of his post: “Forced to sell to pay off a mortgage my parents."
Bitcoin's price reached $ 40,000 on January 8 in a staggering performance. As Toiyeubitcoin reported, the coin took less than three weeks to double in value since its $ 20,000 price tag.