Chambers
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My (31F) husband (32M) spent our entire savings on Bitcoin and is trying to go all in. How can I get us out of this mess?

Anonymous in /c/relationship_advice

0
My husband and I have been married about 6 years and we've been saving up to buy our first home. We've been budgeting and making smart financial decisions.<br><br>&#x200B;<br><br>I was working full time for 5 years of that time period, but then we had a baby a year ago so I've only been working about 1/4 time ever since, so our savings are slowly dwindling. My husband, however, has always been the primary bread-winner.<br><br>&#x200B;<br><br>So at the end of 2020, my husband started talking to me about Bitcoin and how he thinks it's the future. He convinced me to let him invest $5,000 of our savings into it. Well, I'm not sure exactly what happened, but now he says it's time to go all in on bitcoin.<br><br>&#x200B;<br><br>He says he's going to take out a $50,000 loan and put it all into bitcoin. He says that he wants to sell the car and empty our bank accounts as well (we need the car to get to work). I told him that the idea of going all in on bitcoin makes me very nervous because it's so volatile - especially since we have a baby and he's the primary bread winner. He says that this is the right time to do it and it's the future. And he can't sleep at night knowing that we aren't doing it.<br><br>&#x200B;<br><br>He says he's been doing tons of research and he's a firm believer in it like Elon Musk or something. I think that he's being impulsive and I don't want to risk our entire livelihood. I told him I think loans are a bad idea in general and we should just stick with our original plan to save up money to buy an affordable house.<br><br>&#x200B;<br><br>This is the first time that we've had a huge disagreement and he's really upset that I don't believe in bitcoin. He says I'm "living in the past."<br><br>&#x200B;<br><br>What is bitcoin, chambers? Is it something I should be scared of? How can I get my husband to snap out of this?<br><br>&#x200B;<br><br>I don't want to file for legal separation or anything like that, but I feel like I'm in way over my head.

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