I had that crazy (maybe wasn't so crazy) idea in the morning. I was about to put the rest of all my FIAT (6 figures) to BTC but then I didn't. Did another small $200 DCA instead.
Isn't that a sure bet? I mean who doesn't believe here that BTC won't make it above 9k again? Last time I said these lines it was somewhere between 4k and 6k, and I still didn't buy (I mean not all in), and it damn went above 9k indeed.
From 8k to 9k that was %12 sure gains. (It is %6 now)
From time to time, you come out with some real doozies, mindrust.
Based on my round about idea about the total size of your BTC investment, how the fuck could you have anywhere close to 6 figures of fiat available? You must be joking, right?
Note: Remember this is the dollars/BTC thread so our general reference point is dollars, when we are referring to fiat.
Surely, I cannot tell you any kind of exact formula, but before anyone invests in BTC, they should have the rest of their life in order, and have their bigger bills paid and have their cashflow figured out for 6-18 months into the future. Therefore, when considering what funds that they have available for BTC investment, they have the rest of those matters accounted.
Accordingly, you also said that you largely only buy BTC and HODL, you do not sell, so accounting for your own practices, you have also said that you DCA buy, buy on dips, and sometimes mistakenly FOMO buy. Anynow, therefore, in the past 3 months, there have been all kinds of ongoing buying opportunities, so in that regard, I would be quite surprised if the value of your fiat should be anywhere close to the 20% or more of the value of your BTC.
Therefore, if you were to have 6 figures of fiat, then you would have $500k of value in BTC (which at current prices would be about 59 BTC - that is $100k/.2 = $500).
Something that you are saying is quite off, unless you had been largely contemplating and calculating some kind of gambling (overleveraging) move that would involve taking money from somewhere that you should not be taking it, in order to bet on bitcoin. That does seem to be what you are contemplating/calculating. In my thinking, those kinds of moves tend to be desperation moves, and not necessary in bitcoin, even if there could be some decent probabilities that they could pay off quite handsomely - even though personally, I rarely play those kinds of gambling approaches.**
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I will concede that from time to time (and historically), I have used zero interest credit card promotional moneys to increase my cashflow, and thereby buying bitcoin with a decent portion of that increased cashflow funds, so I am not completely immuned to a certain amount of leveraging/gambling that could have ended up going sour on me.For me if someone has about 59btc (500K value) and 100K cash, going all the way and investing the rest of the cash in btc is a reckless move even when I think that btc is likely to appreciate.
Why? Because in this scenario 100K would increase your stash "only" 20% while eliminating any hint of diversification.
By no means I suggest investing the rest in alts. Keep cash (in $$). I don't know your geo location, so cannot rec. other currency or real estate. Some gold might be OK too, maybe split half and half (half cash half gold). I used to love stocks, reduced them lately.
Honestly, everything is so complicated right now, it is difficult to make the right decision (apart from bitcoin, which is solid).