A Perth man who lives in his car amasses a fortune of $500k through cryptocurrency

<p>For more than a year, the Perth resident lived in his car and took showers at his neighbourhood library. However, a "risky" move altered his fortune dramatically.</p> <p>A Perth FIFO miner who spent a year living in his car has earned a whopping half a million dollars from cryptocurrency investments.</p> <p>Max*, who requested anonymity due to privacy concerns, learned about speculative coins in 2017.</p> <p>He was convinced it was a scam and spent another 18 months researching until he felt comfortable investing a large portion of his savings in cryptocurrency, primarily bitcoin and ethereum.</p> <p>Max, 40, now has $465,000 worth of cryptocurrency to his name several years later.</p> <p>"It could easily go to zero or double," the punter explained to news.com.au.</p> <p>He described his decision to invest in cryptocurrency as "desperate," but noted that it paid off in the end.</p> <p>The bitcoin enthusiast intends to cash out when the coins reach predetermined price levels.</p> <p>He has since left his job and purchased a four-bedroom, two-bathroom house in Perth for $202,000.</p> <p>Max had always desired homeownership and accumulated savings from his $85,000 annual salary as a fly-in/fly-out worker in Western Australia.</p> <p>However, once he realised crypto could provide him with massive profits, he shifted his strategy.</p> <p>"I was saving fervently for years," he explained.</p> <p>"My initial plan was to save for a down payment on a house, but my savings strategy veered off course. I reasoned, 'I'll go in two directions, for a house and crypto.'</p> <p>"I was so desperate to change my life."</p> <p>He invested $40,000 in bitcoin in 2018, when the price of a single coin ranged between US$5,000 and US$12,000. At the time of press, a single bitcoin is worth US$57,000.</p> <p>He invested in cryptocurrency in dribs and drabs at regular intervals using a dollar cost averaging strategy.</p> <p>When he noticed that the price of bitcoin had briefly dipped, he purchased additional units.</p> <p>