Amazing how you write so well! Congrats! Not advice, but I would like to hear your opinion: I´m saving to build a house: thanks to BTC I got now the total amount and more. I had 86% of ALL my lifetime savings in BTC. I was feeling pretty good and not a bit worried. But then I started to see lots of red signals of an impeding MAJOR Stock Markets crash, which could drop the price of BTC by, what, 55%. I started to feel very worried and decided to sell all my BTCs, since I already had the money to build my house. But I dont feel well. I feel sad. I believe in BTC and I know how its fundamentals. Reading your text made more confused. People say we should only buy what you feel confortable loosing, if disaster strikes. Should I allocate only 5% of my money in BTC this time? Thanks. ( I know you dont give financial advice, but I would like to hear your thoughts on whats your opinion).
Take the cash and buy usdc stablecoin and deposit it on blockfi to earn 8.6% or Celsius to earn 10.5%. Then take 5% and buy btc and keep it on Celsius earning 6% interest payable in btc!
So do you agree 5% is the maximum amount? I hear people trading and investing all the time, but I have no idea if they are swapping all their money for BTCs or whether they allocate something like 5 or 10% of total assets...
Hey Marcelo, you hit the nail on the head here: "I know you dont give financial advice"
Every situation is different and unique. What's right for me and my situation might not be right for you and your situation.
What Cosima stated was an interesting suggestion. Stay in "cash" and have the yield paid to you in bitcoin. This gives you increasing exposure while not being victim to price volatility.
Although cliche, every situation is truly different. As a young man I kept everything in crypto but as I got older, married, and started having kids I am much more conservative - instead of having 150% of my assets in crypto (yes all plus borrowing 50% to also buy crypto with) I only have 25% in crypto now which I think is still high but I could live off all of my other assets for ten years should the S hit the fan in crypto for a while. Bottomline = make sure you can sleep comfortably at night. With 150% of my net worth in crypto I never slept more than 3 hours at a time. Wealth is built over time. You are early and you are taking action. You are very much ahead of the game. Kudos to you for getting on the path to financial independence so early. Crypto will be massive - no need to gamble and try to get rich quick ... only my opinion though and not financial advice.
Is Blockfi and Celsius safe/trustworthy? I dont feel confortable leaving a lifetime savings with a third party I know nothing of. But will think about it.
Brilliant analysis.
Concise, precise, clear, informative: awesome job as usual Ben !
Amazing how you write so well! Congrats! Not advice, but I would like to hear your opinion: I´m saving to build a house: thanks to BTC I got now the total amount and more. I had 86% of ALL my lifetime savings in BTC. I was feeling pretty good and not a bit worried. But then I started to see lots of red signals of an impeding MAJOR Stock Markets crash, which could drop the price of BTC by, what, 55%. I started to feel very worried and decided to sell all my BTCs, since I already had the money to build my house. But I dont feel well. I feel sad. I believe in BTC and I know how its fundamentals. Reading your text made more confused. People say we should only buy what you feel confortable loosing, if disaster strikes. Should I allocate only 5% of my money in BTC this time? Thanks. ( I know you dont give financial advice, but I would like to hear your thoughts on whats your opinion).
Take the cash and buy usdc stablecoin and deposit it on blockfi to earn 8.6% or Celsius to earn 10.5%. Then take 5% and buy btc and keep it on Celsius earning 6% interest payable in btc!
wisdom from Cosima. Let your cash earn btc.
So do you agree 5% is the maximum amount? I hear people trading and investing all the time, but I have no idea if they are swapping all their money for BTCs or whether they allocate something like 5 or 10% of total assets...
Hey Marcelo, you hit the nail on the head here: "I know you dont give financial advice"
Every situation is different and unique. What's right for me and my situation might not be right for you and your situation.
What Cosima stated was an interesting suggestion. Stay in "cash" and have the yield paid to you in bitcoin. This gives you increasing exposure while not being victim to price volatility.
Although cliche, every situation is truly different. As a young man I kept everything in crypto but as I got older, married, and started having kids I am much more conservative - instead of having 150% of my assets in crypto (yes all plus borrowing 50% to also buy crypto with) I only have 25% in crypto now which I think is still high but I could live off all of my other assets for ten years should the S hit the fan in crypto for a while. Bottomline = make sure you can sleep comfortably at night. With 150% of my net worth in crypto I never slept more than 3 hours at a time. Wealth is built over time. You are early and you are taking action. You are very much ahead of the game. Kudos to you for getting on the path to financial independence so early. Crypto will be massive - no need to gamble and try to get rich quick ... only my opinion though and not financial advice.
Is Blockfi and Celsius safe/trustworthy? I dont feel confortable leaving a lifetime savings with a third party I know nothing of. But will think about it.
Research BlockFi's custodian (Gemini). They have the most insurance in the business.