I didn’t buy a PS5. I put my money to work instead

Last year, I saved up enough money for a PlayStation 5, more than enough really £540 and due to the supply shortages I couldn’t easily get one. This acted as a barrier and so I decided it wasn’t a priority for me to have one around launch as there’s no must-have game and no way I’d pay scalper prices. So that money I saved just sat there in my Monzo account for a while. Shortly, after I used some of the money to get a HomePod Mini (£99) for my home office space with the idea that I’d save up the difference.

The rest of the remaining money was sitting there depreciating in value to the financial decay that plagues all fiat currency (government issued money). Inflation. So I converted it into crypto, into Tether stable coin and put it on my BlockFi account to get 9.3% APY (Annual Percentage Yield) on which is crazy high amount compared with savings bank accounts (0.4%). The interest earned from that, which was deposited monthly, I was getting paid it in Bitcoin because its a store of value (check out my other post on that which I probably haven’t published yet and I’ve been writing for about six months now).

More forward, about a month ago I decided I needed a position in Ethereum, the oil to Bitcoin’s gold. So I trade my Tether and moved it into Ethereum which has proved to be a great move as since that time Ethereum has had a push upwards reaching multiple all time highs.

So now, six months later from my initial PS5 savings, I have spent £100 on a HomePod Mini and the remaining £440 was converted to Tether (USDT) in Nov 2020 which was $578 (USDT) then converted to Ethereum (ETH) in Feb 2021 but today at the time of publishing, it’s valued at just shy of £900. So my investment has appreciated over £400 and has doubled. I don’t have a point of this post but I want to post it anyway.

I don’t know that I would have had that extra £200 worth of value owning a PS5 for those 6 months, considering we just moved into a new house so things weren’t set up and I had no idea to play anyway because we just had a newborn child. When you own a new house and have a baby there’s always something to do that’s not playing video games (though I would really like to get back into playing video games because it is an awesome hobby). In the meantime though, I like to put my money to work.