College student uses single bitcoin investment to pay tuition
A single bitcoin purchase funded Nikki Beesetti's entire second semester of college
Early bitcoin investor Nikki Beesetti said a single transaction funded her entire second semester of college.
“I was able to buy one bitcoin with $2,000 which ended up turning out to be $19,000 by the end of 2017,” she told FOX Business’ Stuart Varney on “Varney and Co.” “And that was just enough for me to pay my tuition.”
BITCOIN IS 'MOST CROWDED' TRADE: SURVEY
Beesetti said as a “great believer in cryptocurrency,” her interest first started while she was in college.
“I was studying electrical engineering and at the time I saw bitcoin being a computer science and engineering breakthrough,” she said. “I knew I really wanted to be part of something like that.”
Beesetti said she’s still betting on cryptocurrencies today.
“I invest in not only bitcoin, but another cryptocurrency called ethereum, which has also done pretty well for me,” she said.
MIAMI MAYOR CONSIDERS BITCOIN INVESTMENT TO CREATE CRYPTO HOTBED
The trick to investing in the market, she explained, is following the rule that no more than 20% of a person’s net worth should be in one asset class. She has invested less than 20% in bitcoin and her other investments are primarily in ETFs and Big Tech stocks.
Bitcoin has had an eventful year, soaring 871% since the start of 2020 and seeing an all-time high of $40,797 on Jan. 7.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
However, Beesetti said the price of bitcoin might be too high for new investors.
“I would recommend looking at a few alternative cryptocurrencies like ethereum, litecoin and so forth because those could be a good way to get entry into the cryptocurrency market,” she said.
CLICK HERE TO READ MORE ON FOX BUSINESS
FOX Business’ Jonathan Garber contributed to this article.