IT was through cryptocurrency that Jose Gabriel A. Arboleda achieved his goal upon turning 30: earning his first million.
Arboleda told the BusinessMirror it was fulfilling and worth the effort. Nevertheless, the full-time coach of Brazilian Jiu Jitsu at the academy of Singapore-based The Gentle Art Pte. Ltd. believes he still has a lot to learn in the investing horizon.
It was six years ago when Arboleda began working for his goal: by buying a $300 smartphone as investment tool. He used a portion of his monthly salary to buy cryptos; treating this as a savings habit.
“It was all through curiosity and seeing the potential of the market. I learned it through a podcast about how the banking system works and how it can be improved,” Arboleda narrated to the BusinessMirror. “I remember multiple times when bank ATMs [automated teller machines] would not function for hours because of various reasons.”
Aside from having an open mind, he said investing in cryptocurrency requires a lot of hard work and long hours of research to arrive at the right investment decision.
JUST like in any investing platform, you have to reckon with the volatility of the market. It’s not always upwards, according to Arboleda.
“One should have a strong gut to take the punches of the market. Being open minded also means we should take any criticisms and translate it to be better,” he added.
Recalling his early days in cryptocurrency investing, Arboleda said Bitcoin was not enjoying a huge popularity compared to its luster today. He said people considered it as a scam and even utilized it for illegal trading. This did not deter him and Arboleda instead focused on how cryptocurrency can be an effective cushion against inflation and a safety haven against a rising dollar.
Arboleda said his efforts bore fruit in 2020 during the start of lockdowns to contain the spread of Covid-19. The turning point was when digitalization accelerated in retail shopping, health, banking and other sectors, he explained.
“That is when cryptocurrencies started to enter the mainstream and major banks and big companies started acquiring and the price of crypto also went up,” Arboleda told the BusinessMirror.
HE compares investment shocks to the pain and injuries acquired in martial arts.
Just like in sports, discipline also plays a huge role in investments as you have to get the right actions and information to be able to execute with high efficiency, according to Arboleda.
“Cryptocurrency is very volatile and markets do go up and down on a fast moving scale. It could look scary to some but if you have your goals and vision set, those price actions shouldn’t bother you,” he told the BusinessMirror.
Equally important is that investing in cryptocurrency is not a flash in the pan, according to him citing it took him a decade to get familiarized with cryptos.
“Just put a small amount from your monthly salary and treat it as savings so you don’t have to look at those confusing red and green charts that you see on business-TV channels,” Arboleda told the BusinessMirror. “Another advice I learned is only invest the amount of money that you could afford to lose. Do not sell your house or car just to invest.”
This Filipino cryptocurrency investor also has these final words: “Zoom out, think long term and you will see the bigger picture.”