TL;DR: I maxed out \~$50,000+ in credit cards and used 50k of my own money and worked overtime like a psychopath, paid $2,000+/month just in credit card payments a month turned it into Bitcoin, then YOLO’d everything into ASTS. It worked. I’m still holding.
My previous post is here https://reddit.com/r/wallstreetbets/comments/1et1032/asts\_1\_million\_gain/
Also Kamikaze Kash did a short segment https://youtu.be/SBT\_BjB2glM?t=1542
The story:
A few years ago I took out about $50k+ in credit cards and 50k of my own money, maxed them, and used the money to buy 3 Bitcoin at an average price of around $33,000. For a long time this sucked — I picked up overtime shifts nonstop just to keep my head above water while bleeding $2k+ a month servicing the cards.
In May 2024, I sold all 3 BTC and dumped the profits into ASTS, buying 35,000 shares at an average of $2.87/share (about $100k total). Then I did the hardest part: nothing. I held through volatility, doubt, and people telling me I was insane.
Fast forward: that position is now worth \~$4 million. I sold 1,000 shares to completely wipe out the credit card debt and I’m holding the rest until at least 2030.
My cost basis got messed up as I originally trimmed 5k shares in October but decided to only need 1k shares rebuying the 4k shares back. So actual gain is around 3.8-3.9 Million.
Was this smart? Probably not.
Did it work? Yes.
Would I recommend it? Absolutely not.
Positions:
• \~34,000 ASTS shares (long)
• 0 BTC
• 0 credit card debt (finally)