Bitcoin Millionaire Monthly Profit August 2017

by | Sep 2, 2017 | Income Report | 2 comments

$116,284 – Last Month 

BTC

$216,648 – This Month 

BTC

$100,364 – Change

BTC

August was a HUGE month with regards to my profit and a HUGE month in general in the Bitcoin space. In August we saw SegWit finally lock in, we all received Bitcoin Cash on August the 1st, and on top of this the Bitcoin price continued to sky rocket.

In total after expenses I made 4.151 BTC, which brings my total balance to 45.696 BTC. With the rise in Bitcoin my balance is now worth $216,648 meaning I am up $100,364 for the month of August! Having started this site on April the 1st just 5 months ago with just $32,190 the total gain is $184,458!

August earnings

The total gain of $100,364 in the month of August came from four areas:

  • Website earnings through banner advertisements and affiliate income.
  • Bitcoin investments.
  • Selling Bitcoin Cash.
  • Rise in the price of my Bitcoin balance.

Website Earnings:

In total the website earnings was 1.082 BTC ($5,130) for the month of August. The total revenue from affiliate income and banner sales was 1.213 BTC ($5,751).  The combined expenses for both sites was 0.131 BTC ($621) which included the initial writers costs for Bitcoin Gambling Reviews.

Bitcoin Investments:

In total I lost 0.804 BTC (-$3,833) which mostly came from Steem losing value with respect to Bitcoin (Steem actually increased in value this month on the USD). I sold my other altcoins that I received from airdrops (Lumens and Byetball) but plan to hold on to Steem until I reach the Bitcoin Millionaire target.

From this month moving forward I will be heavily invested in Bitcoin gambling bankrolls and Bitcoin gambling ICO’s. It is an area I know relatively well and the sites I invest in have made me nearly 50% ROI (on a Bitcoin basis) over the last year. So my current portfolio of Bitcoin gambling investments I do not plan to change much over the next year and can be seen below:

Selling Bitcoin Cash

When Bitcoin Cash finally dropped to Bitcoin holders, I was expecting the outcome being Bitcoin would drop by the value of what Bitcoin Cash became. My back of hand logic was that the market had factored in the price of Bitcoin Cash plus Bitcoin already at something like 1 = 0.9 +0.1. Turns out I was wrong and Bitcoin itself rose after the airdrop and Bitcoin cash settled at around $600 each, meaning everyone got some free money. I claimed all my Bitcoin Cash and dumped it for around 3.877 Bitcoins ($18,381). Looking back I could have got more if I waited longer, but who could have predicted what unfolded and in the end who could complain with 3.877 free Bitcoins?!

Rise in Bitcoin price

It has now been 5 straight months of price appreciation for Bitcoin in a row. If you are reading this I hope you are not expecting the price to continue rising forever! Over the years I have seen Bitcoin drop to below 20% of it’s max value a few times and It could absolutely happen again.

So the price increase of Bitcoin meant that I would have made $80,685 if I just had my Bitcoins sitting in a trezor and did not add any more. Meaning like previous months the constant rise of the value of Bitcoin is what is getting me closer to my million dollar target. In fact if we look at the numbers closely, since I started this site my Bitcoin balance has grown by about 46% (which is still really impressive in 5 months) but the Bitcoin price has risen about 361%!

What’s next in September?

The ICO’s I invested in will finally finish and I suspect the early discount I got will lead to a decent gain in September (if an exchange lists them to actually value the coins). I plan to make my Bitcoin investments a lot more visible in terms by posting weekly updates on Steem. So if you are not on steemit already it is definitely worth checking out!

Lastly if you want your business listed on this site and/or you want to advertise on Bitcoin Millionaire please get in touch 🙂

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