Exclusive interview with former industrialist turned cryptocurrency investor Mohit Devra
November 15: Mohit Devra -A multi-entrepreneur who started from nothing in 2014 and now earns 8 figures yearly. In Jaipur, he runs an Information Technology company that serves clients from the United Kingdom and has more than $1.5 million in bitcoins. Mohit Devra did not get wealthy overnight. It takes years of hard labour, piece by piece, to get this far. In this rare interview, we look into his life thus far.
Tell us more about you and your work.
I am Mohit, a multi-entrepreneurial businessman. When I started in 2014, I had no clue what I wanted and had nothing of my want. Now I own more than 8 figures.
What are some of the other businesses you own?
Alongside, I also have an information technology business in Jaipur that services clients from the United Kingdom and own five units of raw material manufacturing industries for glass and sanitaryware production, which are further distributed to Indonesia, Vietnam, and the United States, as well as one of my industry, is actively Exporting Quartz Kitchen-Tops and 20mm Granite slabs.
How much did you initially start investing in Crypto/Bitcoin?
In mid-2017 I started with $10,000 in bitcoins with the suggestion of one of my clients in the UK and made over $1.5 million.
What was the biggest struggle in your Journey?
“What do I want to achieve in life?” is the question that most undergraduates keep asking themselves. And I was no exception. I kept asking myself these questions constantly when I was completing my graduation in Jaipur. I failed a subject in the last semester. I was disheartened but not hopeless.
How does your family support you, or what position do they hold in your life?
Family is always life. My dad, My younger brothers always supports me in my plans. They always hold me back. After 2018 I never got myself involved in the manufacturing business or the other export industries. To hold them and to manage them successfully, my Dad, Younger brothers always plays an important role as Angel investor for my beliefs in my life. There were a lot of ups and downs I have seen. He never pushed me to be an engineer or doctor or never poked me to get into social rituals or join the family business. I always wanted to stay focused on my work and he helped me.
How did you overcome your struggles?
After completion of my graduation from Jaipur, I got involved in my dad’s manufacturing business and simultaneously set up a similar project of my own. However, until 2015, I was not excited about doing so. Hence, I always had the wish to travel the world and began to travel and visited numerous international buyers. So slowly my holiday started converting into business trips.
How did you cover the international market?
I introduced my products globally and started covering the international markets also. However, my soul was somewhere else. I knew I was meant to do something else.
When did you first invest in Bitcoin?
When Bitcoin was at its lowest in April ’17, it was just about $1000, and my client from the UK advised me to buy it. I invested about USD 10k when Bitcoin was at USD 1200, and my luck aided me in recouping my investment by selling all crypto at USD 125k in just eight months.
How did you prepare to enter the crypto market?
After a great success in the investment of 2017, I knew luck will not be steady like this every time, To get into it more I completely invested the whole year 2018 in studying Bitcoin and researched for over ten months before I realized Bitcoin is a never-ending project, and we are at the real early adoption stage of the same. And the price fluctuations, bitcoin’s halving of acceptance, demand, and supply are all constrained by math, which I was able to solve.
What were your notable achievements in investing?
Towards the end of 2018, I had all my operating firms transferred to my family I left myself with holdings of $140k in cryptocurrency and perfect maths and research of mine which advised me how and when to invest. I will not term it an achievement but yes as my experience and study advised I again invested my holdings of USD 140k in May 2019 for around 20 Bitcoins. And waited for the right time to sell them back.
Any memorable investments so far?
I got the opportunity to buy USD 5000 per Bitcoin as well. I ended up with USD 7,100 each. I now hold around 20 bitcoins. Although I did not have the opportunity to invest, I did have the opportunity to withdraw. I remember in mid-2021 I made $1.1 million in bitcoins in that transaction, which I presently hold in cryptocurrency.
What is something you have truly believed that has helped you so far?
I always had a belief in luck, but I was more inclined toward karma. Even in the case of a lottery, I believe that the person who performs karma (sells tickets) earns more than the lottery ticket buyers who trust in luck while buying, even though 99.99% of them fail and just 0.001% win. But the one who did karma(sold the tickets) always won the triumph with zero risk of failure.
Anything else that you stand by that has helped you get this far?
“Whatever has to happen will happen.” This is something related to luck, but I believe luck is also lazy which needs some push in terms of karma. We can wait for luck to make good things happen but it’s dicey, but as I said above “who pushes luck with karma, brings the best out of anything.”
What are your plans?
At present, my family is already on my back to support me to the fullest. In future, I am looking forward to investing more in crypto assets and starting a new venture in Indian Herbs. For the kick, I already have a business set up in Jaipur, Abroad, Bhopal, and Beawar.
Social media links like Instagram, Facebook, LinkedIn, etc.
Anyone can catch Me, my ex companies and past work are easily available on Google.