A HUSBAND has secretly bet more than ￡50K savings on Bitcoin and lost everything when its value plunged — but he still hasn’t told his wife.

       The spouse said he was racked with guilt at not telling her and can “barely watch himself in the mirror".

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       One investor has lost it all and the fact he has not told his wife is 'killing him' Credit: Getty

       In a post to the social media site Reddit, the man explained what happened and warned others about the perils of risking it all.

       Writing in a Bitcoin subreddit, he said: "I completely messed up guys, my life savings are gone for good, I have learned a devastating hard lesson."

       Starting with future trades, he managed to turn the 1.7 BTCs into 2.1 BTCs, the classic beginner's luck.

       I still haven't said anything to my wife, she doesn't know that and this is killing me from the inside

       Guilty spouse

       But his dream of making a mint was agonisingly shattered after he invested in a type of trade called leverage futures.

       This is where you bet that Bitcoin's value will continue to rise.

       He said: "Of course it didn't play out, BTC went from touching 50k $ down to 47k $ and our whole life savings have been wiped out."

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       The husband said: "I still haven't said anything to my wife, she doesn't know that and this is killing me from the inside.

       "I just don't know what to say to her, I'm simply devastated. I can barely watch myself in the mirror."

       Concluding his tale of woe, the man then urged others to be careful when betting on Bitcoin.

       He said: "Please follow my advice, don't trade guys, don't fall into these marketing traps like I did."

       The UK's financial regulator has warned that people risk losing all of their money if they invest in bitcoin and other cryptocurrencies.

       Frank Bird invested his lockdown ￡2,000 savings in Dogecoin and faced losing almost all of the money he put in if he withdrew it at the August price.

       That means all of the money he saved during lockdown is tied up in Dogecoin in the hope that the price rises again.

       Hedge fund manager Stefan Qin explains how he makes money on bitcoin whether it goes up or down