My 2023 Toyota Corolla cost me 1.1 Bitcoin ($108,000)

00:02 hey everyone I spent 1.1 Bitcoin on a 00:05 2023 Toyota Corolla I wanted to tell you 00:08 the quick story and what I would do 00:09 differently so short take is it was 00:11 spring of 2023 one of my kids has just 00:14 turned 16 we needed another family 00:16 vehicle to help us get around and uh so 00:19 I got on consumer reports and actually 00:22 first we spent quite a bit of time 00:23 trying to find a used vehicle but um the 00:26 government has printed so much money it 00:28 has driven the price of everything to 00:29 insanity when I was a teenager you could 00:32 buy a good used vehicle for a few 00:33 thousand dollars and basically if you 00:35 saved up across one or two summers you 00:37 could buy yourself a used vehicle that's 00:39 not the case anymore they're way more 00:41 expensive extremely high mileage and 00:43 ultimately we came to the conclusion 00:44 that it just wasn't worth it um so I 00:47 would generally never recommend anybody 00:48 buy a new car but in our case I did not 00:51 want to put one of my kids in the kind 00:53 of cars that were available back in 00:54 Spring of 2023 um it just wasn't worth 00:57 it like they were super high mileage and 00:58 I just I wasn't going to do it so uh 01:00 ended up buying a uh to 2023 Toyota 01:03 Corolla hybrid so it gets like insane 01:06 like 50 plus miles to the gallon and all 01:08 that sort of stuff but I needed to buy 01:10 it somehow obviously because you have to 01:13 pay for stuff before you drive it off 01:14 the lot um so anyway obviously since I'm 01:17 like you know insanely Bitcoin exposed I 01:20 did not have $31,000 of US dollars 01:22 laying around and so I did what I always 01:25 do I sold some Bitcoin to buy what I 01:26 need for myself and my family and it 01:29 cost about 1.1 bit Bitcoin to do that so 01:31 in the process of that obviously so the 01:33 Bitcoin at the time I want to walk you 01:35 through my thought process my thought 01:36 process was I have zero debt I want to 01:39 continue to have zero debt the best way 01:41 to have zero debt is to not have is to 01:44 not be in debt it's literally that 01:45 simple if you don't want to be in debt 01:47 just don't don't borrow money um so uh 01:50 the only good source I had was to 01:52 liquidate 1.1 uh Bitcoin which would now 01:55 be worth 01:56 $18,000 and to buy the vehicle which is 01:59 what I did um 02:01 now the there's a couple ways to think 02:02 about this on one hand I had been 02:05 accumulating as much Bitcoin as I could 02:07 under 02:08 $20,000 so on one hand the the vehicle 02:10 cost in today's terms of Bitcoin 02:13 $108,000 but I was thinking about it as 02:15 really this is a $31,000 vehicle that 02:18 I'm buying with Bitcoin that I only paid 02:20 $15,000 uh for or actually probably 17 02:23 let's call it 17 or 18,000 so I'm 02:25 thinking hey I bought Bitcoin for 17 or 02:28 18,000 that I am now spending you know 6 02:30 months a year later for uh double that 02:33 or almost double that so I'm basically 02:36 buying a $331,000 brand new Toyota 02:38 Corolla 2023 hybrid uh I'm buying it for 02:42 what cost me between 17 and $188,000 but 02:46 uh it costs the rest of the world 02:48 $31,000 but it's priced in my world at 02:51 Bitcoin of 1.1 Bitcoin so um uh the 02:54 reason I did it of course is because I 02:56 didn't want to finance the car now in 02:58 retrospect I would have financed the car 02:60 the reason I didn't want to finance it 03:01 at the time is people don't appreciate 03:03 18 months ago or in this case you know 03:06 even more than that it was you know 20 03:08 23 months ago I mean it was like you 03:10 know whatever March April something like 03:12 that of 2023 Bitcoin was way higher risk 03:15 than it is now this was before uh the 03:17 banks had blown up uh proving that 03:19 Bitcoin actually went up not down when 03:21 Banks Blow Up um so this was before that 03:24 it was before obviously the Bitcoin ETFs 03:26 were approved and Bitcoin got the 03:28 official uh stamp of approval from The 03:31 Regulators in the in the US government 03:33 and I just decided that the value for me 03:35 of staying 100% debt free was higher 03:38 than the value of 1.1 Bitcoin to me even 03:42 though obviously partying with 1.1 03:43 Bitcoin is you know that's a lot of 03:45 Bitcoin that is a painful amount of 03:47 Bitcoin to part with but I decided for 03:49 my mental sanity and well-being that it 03:51 was worth it so that's what I did now in 03:53 retrospect if I could do it again 03:54 knowing what I know now I obviously 03:56 would have financed the car and kept the 03:58 1.1 Bitcoin but that was not an option 04:00 at the time um because I didn't want to 04:03 do that so I didn't want to do that 04:05 therefore you know there was no way of 04:07 knowing with certainty how things would 04:10 play out over the last almost two years 04:12 and therefore there was no way of uh 04:14 making a more informed decision than the 04:15 information I had to work with and 04:17 that's that well hey it's a discount 04:19 compared to what I paid for the Bitcoin 04:21 even though I think the Bitcoin is going 04:22 to be worth way more uh because the car 04:24 was like $31,000 and I think the uh 04:26 price of Bitcoin at the time was like 04:28 29,000 but again I had bought quite 04:30 quite a bit of Bitcoin below 20,000 so 04:32 it was you know by that definition uh 04:34 significant discount so I am about to 04:36 face the same dilemma because coming up 04:38 here in the first half of 04:40 2025 I have another kid that will turn 04:43 16 and uh I have wanted a Tesla uh model 04:48 Y which is the Tesla crossover it looks 04:50 it looks like a sedan but technically 04:51 it's a crossover even though you really 04:53 can't tell the difference unless you're 04:54 like a big Tesla fan so I've wanted a 04:56 Tesla forever for years and years and 04:58 years and finally I'm like I don't have 05:00 a better I don't want to buy another 05:02 conventional vehicle you know for one of 05:04 my kids to drive um and you know my kid 05:08 who's turning 16 is one of my sons and 05:11 I'm a lot less worried about you know I 05:13 don't want my daughter in driving an old 05:15 vehicle that might break down I'm a lot 05:18 less concerned if one of my sons is 05:19 driving a vehicle that might uh break 05:22 down so I am currently driving the 05:24 family's uh 2020 uh 2010 uh Honda 05:28 Odyssey with 225 ,000 miles on it so the 05:31 car has 225,000 M on it and it's 14 15 05:36 years old I guess it's 15 years old now 05:38 uh because it was manufactured in 2009 05:40 so I am driving the family vehicle so my 05:42 plan is to let my son who is turning 16 05:45 uh one of my sons who's turning 16 I'm 05:47 I'm planning to hand him the keys to 05:50 this uh 15-year-old Honda Odyssey and 05:54 let him drive that and I plan to buy a 05:57 uh 2025 Tesla Model y dual motor 7 seat 06:01 uh vehicle with uh the new uh Juniper 06:04 upgrade so Tesla uh is upgrading their 06:07 entire model Y Line it's called Juniper 06:10 uh but anyway the the new model y 06:12 Juniper which is not just the 2025 so 06:14 Tesla's uh 2025 they have a standard 06:17 2025 model but they also have a juniper 06:20 Edition that has not yet come out but 06:22 will come out before I actually need to 06:24 make the purchase so I'll be buying like 06:26 not only the latest of the latest Tesla 06:28 models but the latest reair of the 06:30 latest refresh of the latest Tesla 06:32 models um now the model Y is not their 06:34 expensive line their expensive cards are 06:36 the model S and the model X and so I 06:38 would be buying a model Y which is a 06:40 comparatively cheap Tesla um but it's a 06:43 Tesla that has all the stuff that I 06:45 would need including the extra Headroom 06:47 since I'm 6'4 in tall um so that's my 06:50 plan so um given the fact that Bitcoin 06:53 is radically lower risk now than it was 06:56 back when I bought a 2023 Toyota Corolla 06:59 my plan is to finance the Tesla uh 07:02 financing is as long as you can you know 07:04 easily make the payments which again the 07:06 payments are basically you know 07:08 Irrelevant in the grand scheme for me um 07:10 but it's an opportunity to go short the 07:12 US dollar and long Bitcoin what I mean 07:14 by that is it's an opportunity to borrow 07:17 a currency that is losing value in order 07:20 to keep from parting with a currency 07:22 that is gaining value and it's just uh 07:25 you know not something I was comfortable 07:27 doing in 2023 given the risk profile of 07:30 Bitcoin but it is something I am 07:32 comfortable with in 07:33 2025 given the given the fact that the 07:36 risk profile of Bitcoin in 20125 is 07:39 radically lower than it was in 2023 and 07:42 even in 2023 the risk profile of Bitcoin 07:44 was still very low it just wasn't sort 07:47 of insanely low as it is now uh in the 07:49 grand scheme so anyway so that's my plan 07:51 my plan is if I knew everything I know 07:54 now obviously I would have financed that 07:55 2023 Toyota Corolla back in early 2023 07:59 uh but you know the risk was a lot 08:01 higher back then and I just wanted to 08:03 stay debt free it was just more 08:04 important to me to remain debt free 08:06 therefore that car cost me 1.1 Bitcoin 08:09 um now it's more important for me uh 08:12 given that you know Bitcoin is just a 08:14 lot lower risk now it is more important 08:16 to me that I have more Bitcoin and so so 08:19 my plan is you know sometime towards the 08:21 end of the first half some you know May 08:23 June time frame sometime in May or June 08:26 I plan to buy a Tesla Model y dual motor 08:29 7even seater uh crossover uh which looks 08:32 exactly just like a sedan it just looks 08:33 like a random Tesla that you see on the 08:35 road uh so that's my plan to buy that to 08:38 finance it with the best possible terms 08:39 I can get to avoid parting with the 08:41 Bitcoin and to hopefully then make the 08:44 payments with Bitcoin that has radically 08:46 increased in price over however many 08:48 years they will let me Finance it uh as 08:50 long as I can get it at some reasonable 08:52 interest rate now if the interest rate 08:53 is crazy then I won't do that because I 08:55 just refuse to pay crazy interest rates 08:57 um but Bitcoin is so valuable and so low 08:60 risk at this point that I am comfortable 09:02 making decisions like that that I was 09:04 not comfortable making in 2027 um or 09:07 sorry what I meant is uh 2023 is what I 09:09 meant um so anyway uh throughout the 09:11 history of Bitcoin people have been 09:12 making decisions just like this uh for 09:15 me in fact there is a uh there's a 09:17 there's a great video um of uh the guy 09:20 who does uh oh I forget the Netflix 09:22 series it's like selling New York or 09:24 something like that it's it's on Netflix 09:25 but it's basically a a realtor a slick 09:28 professional realtor guy that's selling 09:30 New York real estate um anyway it's a 09:32 it's a Netflix series but anyway there's 09:33 a video back from I think it was 2014 or 09:36 something like that somebody's trying to 09:37 buy an apartment for 50,000 Bitcoin and 09:40 the the price of 50,000 Bitcoin at the 09:42 time was $13 million but the condo uh he 09:45 was trying to buy was $14 million so 09:48 they declined the Bitcoin because it was 09:49 a million dollars below their asking 09:51 price but of course $50,000 Bitcoin now 09:53 is worth like 5 billion so in retrospect 09:56 what the guy should have done is take 09:58 the 50,000 Bitcoin and S on it and you 10:01 know he would have made $5 billion and 10:03 he wouldn't have to still be doing 10:04 Netflix shows but uh anyway so um if you 10:07 can easily in my case you know I won't 10:11 speak for what anyone else ought to do 10:12 this is just me personally Bitcoin is 10:14 low enough risk high enough return that 10:17 I am now comfortable financing a vehicle 10:20 uh uh rather than parting with the 10:21 Bitcoin whereas back in 2023 I just 10:24 wasn't comfortable doing that and I just 10:26 felt more comfortable being completely 10:27 debt free which is what I am right now 10:29 what I was back then what I am right now 10:32 and temporarily at least if I buy a 10:33 Tesla in uh in May or June I will no 10:37 longer be debt free uh but I'll be you 10:39 know won't have to part with Bitcoin 10:41 that I you know value highly um anyway 10:43 so figured I'd tell that quick story uh 10:45 just in case you've ever parted with 10:47 money you wish was in Bitcoin just 10:49 realize hey I'm the guy that spent 1.1 10:52 Bitcoin on a Toyota Corolla in 2023 so 10:56 you know that car is driving around 10:57 today and uh in Bitcoin value that's a 11:02 $118,000 Toyota Corolla and yeah I'd 11:05 have the Bitcoin back if I could um but 11:08 you know I did not have to put up with 11:10 the risk that was exists in 2023 that 11:12 does not exist now and you know nobody 11:15 appreciates the fact that in 2023 11:17 Bitcoin was just a radically higher risk 11:19 asset than it is right now so back in 11:21 2023 it was still low risk now it's just 11:24 like in my opinion insanely low risk um 11:28 so anyway hope that story helps and have 11:30 a wonderful day everyone thanks