Formula 1: The GOAT - Chapter 198: Back Home

Chapter 198: Back Home

By the end of the second week, they had finally finished the second main topic. Since they had finished on Friday, he was given the weekend off starting from that Friday evening, which he immediately used to go back home and visit his mom and grandmother.

“I missed you so much,” Güldane said as she hugged Fatih the moment she opened the door, finding him standing in front of it.

“You should have come to visit me,” Fatih said as he hugged her back, having missed her as well. It was the longest period he had gone without seeing his grandmother, so it had taken him time to adjust.

“Your mother said you need to slowly learn to be independent…” just as his grandmother was about to go into an explanation, a voice was heard across the house asking, “Mom, who is it?”

“Fatih,” his grandmother shouted back as she moved aside for Fatih to enter. By the time he finished taking off his shoes and putting on his house slippers, his mother was already near the front door, and she too moved to hug him.

“You have gotten taller,” his mother said as she broke the hug.

“I have been away for only two weeks, Mom,” Fatih said with a smile, despite knowing that it was the truth.

Since his upgrade of Sponge Body had taken place, he had started growing so rapidly that it had made him worried he might end up experiencing the same problem that had caused Toto Wolff to give up on being a driver: being too tall. But Apollo had come to the rescue by reminding him that his abilities were all for his racing career, so they wouldn’t do something as foolish as making him too tall to race.

“I’m your mother. You think I can’t tell when you have gotten taller?” she said as she lightly tapped his shoulder before adding, “Why didn’t you tell us that you were coming? We could have prepared beforehand.”

“I wanted to surprise you. Plus, I’m not a guest who needs special preparations ahead of time anyway.”

The small talk continued until they arrived in the living room, where they finally started talking about the two weeks he had spent at Milton Keynes.

Although he had conversed with them on a daily basis through the phone, he still once again repeated most of the things they had talked about, but this time in more detail, before he headed to his room to rest for a bit before he had to go out and start his run before it got dark.

When he returned and finished cleaning himself, his mother called him to have a serious conversation.

…….

“I wanted to talk about it face to face for you to explain everything in detail, since I don’t find it to be the same through the phone. So can you start from the beginning?” his mother said as she opened the mango juice bottle that Fatih had brought with him from the fridge.

“I think it is time we offload some of our Bitcoin into cash,” Fatih said without beating around the bush.

From the start of his new life, Fatih had never been put in a situation where he had to be nervous when having a serious conversation with his mother, other than the time when he had to break down how he was earning his money, but even that situation was because he had been doing something behind her back.

“From the trend and the hype that has slowly started, it is showing hints that we are on the verge of triggering what people in cryptocurrency call FOMO: fear of missing out. It is the idea of people literally fearing they will miss out on the price rise and benefiting from it. The more the price rises, the more this feeling increases, leading to more people putting money in, in hopes that the price will increase more and they will profit. So what I have in mind is for us to use the buying frenzy to sell some of our Bitcoins.”

“How much Bitcoin are you thinking of offloading?” she asked, wanting to know a few things before she moved into the real questions that she had on her mind, as she knew Fatih better than anyone and that he never spoke without having thought something through fully.

“A maximum of thirty thousand Bitcoin.”

Upon hearing the answer, Rümeysa took out her phone and looked at the market price of Bitcoin at that time, which came out to $5,554 per Bitcoin, causing her to take a deep breath.

The moment she saw the price, her mind immediately made a calculation of how much his son’s assets were worth in total at the current market price, which translated to her son being a billionaire by the age of fourteen, giving her goosebumps all over her body.

Something that her son had said he bought based on a whim, spending less than ten thousand dollars to accumulate, had now ballooned into more than a billion and a half dollars in a matter of a few years.

“I assume you want to sell it at the current price?” she asked, knowing that at the current market price, it would net him at least a hundred and fifty million dollars.

“No, we need to wait until the price reaches the maximum for us to gain as much as possible, and from the look of things, the price will most likely peak in December. For now, we should take this time to create relationships with the over-the-counter traders ahead of time for us to be able to execute the sells when our target price is reached,” Fatih said calmly.

He had already taken into consideration the best way to sell such a large amount of Bitcoin without crashing the market. The moment he sold such a large amount on the open market, he would definitely cause a momentary crash, since he would account for between six and ten percent of Bitcoin’s daily transactions.

As a result, he took inspiration from what large traders do when it comes to the transaction of large amounts of company shares. If purchased from the open market, it would lead to a price rise or fall depending on whether they were buying or selling, making the expected amount to buy or the lost amount selling a certain share volume become volatile due to prices being affected in real-time by the buying or selling action itself. To avoid that, large institutions usually conduct an over-the-counter trade, where an institution acts as an intermediary and brings together a buyer who wants to sell a large amount of a certain share and a seller who wants to buy a certain amount of those shares, where they agree on a certain price before the purchase goes ahead, and both sides benefit.

And at the moment, it was already possible to do the same with Bitcoin.

“What is the strike price you want to set?” Rümeysa asked when she realized that her son was sure of the price rising to a certain point and wanted to gain the maximum return.

“Ten thousand of them at fifteen thousand dollars, ten thousand of them at sixteen thousand dollars, and the remaining ten thousand at seventeen thousand dollars. So we should be earning a total of four hundred and eighty million before fees,” he said with full confidence that the price would reach that point.

He was met with silence from his mother as she looked like a frozen animation, trying to comprehend what her son was saying and the amount of money he was talking about making as if it were normal and not totally weird.

“Three times the current price? Where is this confidence coming from? And are you sure that it will rise to that point? From how I see things, even the current price is unbelievable in the first place,” Rümeysa said after more than thirty seconds of silence from her side.

“It will go higher than that, but these are the prices that I believe will allow us to be able to easily sell the desired amount of Bitcoin and receive our payments before things crash. Even if the prices don’t reach that high in December as I predicted, then there is no problem, since the transaction will just not go ahead, and we will lose a small amount of money in fees only,” Fatih responded, the confidence he had at the start still there and not showing even a hint of worry.

“If you are saying that selling at those prices is going to be easier, then how high do you think it is going to go?”

“It will reach a point where people will believe that the price will go all the way to fifty thousand dollars per Bitcoin, but I don’t think it will rise that high. I conservatively believe it will max out at twenty thousand before it crashes,” he said, sounding like a very confident analyst. But unfortunately, he wasn’t an analyst; he was someone who was using his previous life’s memories to cash out and have a large amount of money in reserve ahead of time.

“Your conservative estimate is twenty thousand, before the crash, you say? Then how low would the price go following the crash?” she asked, her face showing that she was not believing his words at all and was just entertaining him at the moment.

“It will fall to about three thousand dollars per Bitcoin, and that is when I plan to buy back all of the thirty thousand Bitcoins we will be selling now, as I see the prices going back up again in the next few years.”

When she saw her son’s confident face, she really found herself between a rock and a hard place. Between the two of them, her son was the one who was well-versed in Bitcoin and other ways of making money in a short time, as he had repeatedly proven himself through tangible results that had removed financial worries from their lives at a very early age. But on the other hand, she was worried that Fatih’s early success might have given him a higher-than-normal confidence due to him not facing any failure from his previous ventures, just like a gambler who won big on his first bet.

However, she also really didn’t have a concrete reason to not go ahead with it, because even if the price was not reached, the only damage they would suffer would be fees, which was something they could easily afford with the money they currently had, and it would also act as a lesson for her son. If it succeeded, then she would really have no ground to stand on in the future when her son came up with the same absurd investments, as he would have proven himself time and time again, but also because he would by then have enough money to not suffer losses big enough to make his life difficult.

As she pinched her eyebrows, she said, “If this goes as you predict, then we might have to start a family office,” showing that she was going to go along with his plan, causing Fatih to flash a wide smile, as he was confident that the prices would reach that point.