I know, I know even my closest friends sometimes get to tell me I'm a pain in the ass on some things.
Looking at the market these days I can't complain but I never really can't complain. DCA works good (thanks to you too jjg).
I'll leave GBTC shares and profits to the institutionals, while I keep stacking sats in any possible way.
See ya around here guys.
That's great.
Just consider how many peeps who got scared from this most recent 56% dip that lasted 2-3 months.. and sure we are not even fully recovered from it yet (even though it is seeming quite convincing that the bottom is in) - and of course one additional levels of complication with GBTC, because they dipped even further in their going from a premium to a negative.. while they also reflect spot price too... so they had a dip of their premium that arguably started 4-5 months before BTC's spot price started to fall in this latest dip.. with a double whammy.
Many of us wee peasants could have gotten paralyzed or even run out of money on the way down, but a DCA strategy would still suggest to at least hold some of your money aside to be continuing with the DCA strategy, whether it is $10 per week, $25 per week, $100 per week or some other amount that might be more or less aggressive depending on personal financial and psychological circumstances.
GBTC would not have been so easy as to allow for such "peasant" tailoring... at least not the initial product, even if more tailoring might have been possible for some of the guys who are able to participate in GBTC secondary markets... complicated, no?
And the guy who directly bought BTC through all of this time including the one who
aggressively directly stacked BTC for $100 per week over the past 8 years would have already gotten himself about $2.5 million in current spot price value (about 55 BTC), which surely puts that same DCAing guy in the league of some of the GBTC investors (even if he might not have initially qualified for getting into GBTC when he first got started into buying BTC directly).
Of course, mistakes are frequently made along the way too and people do not necessarily learn a focused technique when the first get started in buying BTC .. and the volatility can really throw off a lot of people, but they can still evolve into a more aggressive and consistent DCA strategy - and hopefully without messing up his/her own cashflow along the way and hopefully not getting scared out of his/her DCA strategy that so far has been proven to be one of the best of strategies in staying actively involved in BTC accumulation - and the longer the time doing it, the better it has been historically for the DCAing accumulators involved in BTC.
One of the problems of the peasant could be that s/he might not have any other investment or any other investment opportunities, so s/he might get scared away from ongoing BTC investing in a DCAing kind of way because after a while and s/he might start to accumulate so much relative wealth in BTC, then s/he may start to feel way over allocated into BTC at various points when the BTC price is going up.. so anyone involved in BTC for nearly 8 years has gone through close to two full cycles, even though many of us will suggest that the first full cycle might feel like the worst in terms of feeling some financial/psychological insecurity, but even the longer term BTC accumulator.. might get scared away from some of the ongoing DCA'ing too and part of that might well be due to the considerable outperformance that BTC has historically shown, relative to any other investment category.. which can be quite difficult to manage financially and psychologically.
Let's consider the possibility that the one who had been able to be more aggressive with $100 per week might ONLY have an income of a couple thousand per month.. so gosh when their whole BTC holdings has appreciated to such relatively large sums of money.. there are going to likely be many points along the way in which they are going to be very tempted to either draw from their BTC holdings or to put such value into other investments (which none of us can really blame them from having and even acting on such temptations). Sure, I am not talking about reallocating into shitcoins here.. I am just referring to equities, property, PMs and even cash. even if maybe the ongoing investor could still consider that BTC remains as the best of investments and they could still continue to DCA into BTC - even if they remain vastly overallocated in BTC. These are tough decisions for a lot of us, even for many of us who have been in BTC for a long time, even though the first full cycle is likely the most difficult, relatively speaking in terms of getting to a larger BTC investment portfolio size, which could also tempt normies into screwing things up in one way or another.. so none of us is completely immuned.
https://u.today/billionaire-bill-millers-value-fund-discloses-447-million-stake-in-grayscales-bitcoin-trust
