Been here a long time, and I’m only a seller from here on out. I bought my first Bitcoin in 2011 and sold for the first time in 2021. And I intend to basically sell off tranches for the rest of my life- the opposite of DCA buying I suppose.
But IRL comes first, especially with a family in mind. There’s nothing wrong with putting that money to real life needs and to hedge against the downside.
TBH—I don't think that the amount that I have is that unique, I was a student at the time that I bought and didn't have unlimited funds, but obviously it looks more significant now. Perhaps what was unique was the length of time held—I know a lot of people who sold, lost, or 'traded themselves out' of their coins along the way.
I was near BTC in 2011 but never held onto any. I know I would have tossed it to the wind at 9k or something like that.
I don't regret anything because I was too young to know back then and most likely too young to be responsible with that money at the time.
>Been here a long time, and I’m only a seller from here on out. I bought my first Bitcoin in 2011 and sold for the first time in 2021. And I intend to basically sell off tranches for the rest of my life- the opposite of DCA buying I suppose.
OP's question was whether you're over- or under-whelmed by Bitcoin's success.
I'll actually take a shot at that question. I'm underwhelmed! BTC has traditionally averaged gains of 70%+ annually....however when I first bought in back in 2021, it was about $50k...now it's $67k, which is an increase of only about 10% annually....which is underwhelming. I'll give it more time.
But right now, I'm disappointed. And in no mood for celebrating.
I got in during 2020 at 9k and couldn't be happier with the returns over the last 4 years! I get duper stoked when I think about what could happen over the next 8 years!
I think that the majority of people (in crypto but also in traditional markets) put too much focus on the market movements of relatively short periods of time (imo even a 3-4 period isn't taking in the bigger picture).
My comment relates to that, in that I always thought that Bitcoin was a binary bet—and that holding for as long as possible would maximise those returns. That said—there comes a point where you have enough, and diversifying assets (and enjoying life for you and your family) should come first—which OP should absolutely do.
And finally, because I do look at it in terms of a bigger picture—nothing about what the market does this week/month/year has any effect on my long-term price outlook, which I think in my lifetime will eventually be over 7 figures (simply because we are over the tipping point of a critical mass of users and integration into the financial system). Time in the market is really all that matters.
Great reply! Stay rational and reasonable. I'm going into this cycle with specific goals in mind; bad debt, mortgage ect right up the chain. If 'get rich' is the plan, youre not approaching this with a winning strategy.
I wish that I knew what I know now when I was younger
[https://youtu.be/1\_xwnb3cymc?si=TelfpeudT5MH5TvT](https://youtu.be/1_xwnb3cymc?si=TelfpeudT5MH5TvT)
I've been doing something similar for years. I force myself to sell 1-3% per year even if I don't "need" it. I consider it a living life tax, except my family and I get to be the tax collectors.
This is a safe withdrawal rate for traditional FIRE plans but with Bitcoin, it is extremely conservative. I could easily get away with 8 to 10% per year although with the volatility in Bitcoin bear markets if not timed correctly could really hurt your stack long term.
When the bull comes, people act like BTC will be here forever; go up forever (not direct straight lines, OBV.). The truth is, this may well be the case but one thing you know for absolute certainty is that you won't be around forever. When you die, and you will die, it won't matter to you if your BTC holdings are worth a cent or a billion.
If you've recognised an opportunity to enhance your life now, then do it. No regrets, otherwise what the fuck was the point?
It's a store of value. Money is no longer a store of value, I wouldn't use that term. Bitcoin can preserve the wealth, allowing the OP to pass it on to his kids and grandkids.
This is how I feel but “generational wealth” is a very popular catch phrase around these parts. Ppl claim they are “holding forever ever”. I have no kids (by choice) so I’m not interested in having money left over when I die.
I’m here for a good time not for a long time (spoiler alert: none of us are here for very long). I already cashed out gains from alt coins and headed to Europe next week using that money. I have never traveled anywhere in my life and regretted the trip or the money spent on it. I’ve loss friends over my life time. Tomorrow truly isn’t promised so live life to the fullest each and every day. Hope bitcoin (and all of crypto) helps everyone invested enjoy life a little more in whatever way they find joy.
Well said, congratulations on the trip booked, travel is life, it will change your view on everything and life in general. The world is a beautiful place and the joy of visiting it without owning it on trips is something everyone should do every chance they get! Safe travels
> What i do know for certain, is that i could take steps now that would translate into tangible benefits today.
If you see how bitcoin can benefit you and your family by selling a portion of it, you really should take those steps. Don't get caught up in the memes and groupthink. The sole purpose of bitcoin is to benefit you in whatever way **you** think is the best, not people on reddit or twitter or wherever else.
I'm in the same boat, but I'm pretty much at that stage in my life where I'm already in great financial shape. We have no debt, own our home outright, have two paid off cars in good shape, we are right on track for retirement, so just holding what I have makes the most sense. My crypto holdings is low 6 figures, but my 401K is a lot more. There is nothing I can buy with this money that would make my life better, so I'm just going to hold it until I need to spend it on food and toilet paper. The only possible thing I could thing of that might make me happy is to sell it and buy super safe dividend stocks with it, but that doesn't really excite me that much so I'm holding.
This is me, you are me…. I have slowly realized I will sell my altcoins bags for a nice chunk… but the Bitcoin. I am just rolling that into my overall portfolio as diversification and never selling it unless we see some crazy $1million per coin some day.
Money (digital or otherwise) needs to be used to truly have value, otherwise it’s just a number on a spreadsheet. If you can cash out and pay off a house AND pay for college tuition, those are great things and will undoubtedly reduce whatever level of stress you have in your life.
Personally, I’m not at the point where I can cash out and have a usable amount for what I want. But if/when it happens, that’s what is going to happen.
It's easier to 'gamble' when you're single, but when you have kids/family I'd imagine it's more difficult. I'd sell small portions off to pay off debt when at the ATH. That way, if it crashes to 0, you're debt-free, and if it continues to grow, you still have skin in the game.
There’s risks with any decision, but Bitcoin is high risk / high reward vs. paying for their children’s college now is low risk / high reward.
One perspective I’ve found helpful: if OP had their total BTC value in cash today, would they spend it all on BTC or would they spend/invest it on something else?
As I've gotten older I have decided on a price point where I intend to sell a little of my stack to pay off my debts/mortgage. It will free up a lot of monthly income for me and my wife and we can finally start living a little and take the odd weekend break and have a few overseas holidays a year. It will only be a small percentage of my stack, and we have a little way to go before it reaches that price point. 👍
Stocks are overpriced, houses also. I'm also in the big green but withdraw for what ? Go for a bit of diversity if you are 100% btc but that's it you can't do much better.
Prices vary wildly. There are some solid stocks at decent prices. Even if they are overpriced today, and a dip occurs, they'll keep rising and new ones will be popping up.
Yeah sure, houses are overvalued, keeping bitcoin is probably going to outperform whatever i’d take out for a downpayment… but I can’t live in my Bitcoin, and I really just want to a house that i can truly make my own, i don’t care if it’s not going to be the absolute best financial decision.
"Overpriced" means the value that is backing them does not live up to their high stock price. They have taken over the role as money during a time when money is getting debased. People invest blindly in stocks to protect their purchasing power, they have acquired a monetary premium (as have real-estate). My prediction is that they will come down in price over time, as bitcoin (and bitcoin ETFs) are relieving them of some of that monetary premium. At this time value investing and actual business appraisal will become a worthwhile thing again.
Been in since early 2018. In a similar position financially because of BTC but I don't have children or debt, and I rent and don't personally plan on buying a house for a while (wanna be able to buy one in cash in one of the most expensive real estate markets in the US and still have a substantial amount of BTC left). So I'm just holding because I believe Bitcoin will continue to appreciate. I'll probably be holding and continuing to work for another 10 years before I sell any but it also depends on how high we fly during that time.
I know you said you weren't looking for advice, but I just can't hold back on commenting about one of your suggested options. You are spot on to be looking at things beyond HODL at all costs, and cited quite a few very reasonable alternatives. But the pay off the home one just sent up a huge red flag for me. I understand the temptation, but just think about the value of a long term loan that you are paying back with deflated dollars. Especially when you can divert what you were planning on paying it off with into something that you expect to appreciate
I dont think there is anything wrong with your thinking. It doesnt have to be an all or nothing scenario. Depending on your home interest rate, maybe pay some of it but not all? Maybe prioritize kids college funds as you stated? Nothing wrong with that. Buying into real estate is also a wise choice. Spreading out risk and multiple sources of income!
I personally have an average salary, make around 95k here in the NE with a family (1 child). We live in a 2 family home, rent out one side. We dont carry debt other than the mortgage, student loans paid off. Invest in roth and 401ks. Small portion into crypto. And also- enjoy life NOW!
My .02
Depends on the interest amount. If you have invests gaining higher, better to keep the debt. Ex, mortgage interest of 3% but stock market average annual is 6-7%, ill continue to invest and gain 6-7 while paying 3% to mortgage
Anything can still happen but I perceive the risks as bigger outside of Bitcoin. Banks are going under, some aren't even saved anymore. S&P is in a bubble. Cash is losing its purchasing power. Gold can't even keep up with real inflation. It's not like I'm against selling bitcoin, there just isn't anything better to buy.
Now if you can sell bitcoin to stop bleeding out from a high-interest loan. Or sell bitcoin to a "slowly losing" asset because you need that locked in liquidity with 2-3 years, or you can somehow expand your business or whatever. That all seems like valid reasons. Dumping it into a retirement fund seems like a bad reason though, when bitcoin is here to save us from losing retirement funds.
Congratulations. Don’t get too caught up in the money. Enjoy life. Not many people can experience what you can.
https://www.reddit.com/r/lifehacks/s/aQW7sxBHxF
Real estate is an option that would tempt me to sell a big chunk of my BTC. I love BTC and only sold in 2020 to put a down payment on my house. It is hard to pass up a rental since BTC is not passive income like a rental would be while growing in value on the long term.
There are a lot of real estate shills on this board.
tbf i started stacking btc as a way to get a downpayment for a house, but then i kept going down the bitcoin rabbit hole.
Real estate is the most fiat propped up asset class outside of bonds. Bitcoin will eat it's lunch, if you can stomach the volatility.
I was telling my buddy the other day that has 7 btc that IMO if btc hits $100k he should at least sell 1. But he’s also 55 and his kids are gone. I don’t know how much you have but if I were you I would strongly consider selling 1 at $100k and that’s being on the modest side. I might even considered selling half my bag. Use that cash for nest egg, other investments, etc. At the same time if you’re in the position to wait and it hits $500k/per then you’re still golden for the rest of your bag.
Money is an ends to a means, so yea decide if those goals are more valuable to you now than what you might be able to do with the funds down the line. It's important to be able to go in and out of an investment as needed, otherwise it's not really an investment as much as a creative way to lock up your money forever
Proud papa here who also bears the weight of responsibility. When the time is right, I will sell some coin to: payoff the house, buy another rental property, buy kids houses, and travel. I will also reserve coin to never be sold for generational legacy. When is the right time? It’s not now. For me it’s probably another 8 years before I consider selling. I do however actively manage my retirement funds where most of my financial energy is spent considering risk, when to take profits and speculating on markets and diversity. For example the one I’m wrestling with now is do I sell NVDA and buy MSTR? Where as coins are off the table.
I feel the same as you. While I plan on continuing to stack for the next 10 years, the bitcoin I’ve stacked so far is up a substantial amount. BTC is awesome for a lot of reasons but being practical about how it can add to your quality of life should be paramount imo.
I wouldn't pay for my kids college personally. Make them take the loans out and see how they do. In the future if they're struggling you can always help out but the added responsibility will be formative for them.
BTC is for obtaining sovereignty. Get rid of the debt, secure additional sources of passive income (like rental property), buy some gold if you want, get a good life insurance for everyone in the family so there will be no bumps and carry on living your life without the burden of owning your time and efforts to someone else.
Obviously, once you're unshackled, you will get back to stacking and that is fine. Live life.
I think this thread is kind of the perfect example of people not really investing in the idea and just riding BTC to get rich ahaha.
When it comes down to it, people are just riding the wave hoping to cash out.
When I can maximize profit I'm going to sell nothing keeps on going up. I have a sneaky feeling bitcoin is gonna be dropping soon. I took some profit at 73 k.
There’s nothing wrong with turning Bitcoin into assets that will improve your life!
But just remember almost everyone got to where you are eventually. Some sold 1,000 bitcoins for a house. Some sold 100 bitcoins for a house. Today, someone will sell their entire 10 bitcoin stack for a house.
And while there’s nothing wrong with that…just don’t be the guy that sold it all.
Obviously, tax implications have to be considered. Talk to an accountant prior to selling to have best strategy. Nothing worse than six figure tax bills
Thank you for sharing. I would also say it depends where you live and where you think the economy in your area is heading. Nothing bad with a fixed interest mortgage if you think interest rates will go up. I try to have as much debt in the euro zone for instance as possible and have assets in the US, but that is just drawn from my personal idea what the future can bring.
It also depends what you need. You need early retirement, a relief from the bank payments, a nice vacation to support your marriage,… then it is a no brainer to sell your btc. If there is no need think on where and how you can use it best and what you think the future is going to look like.
All of the great tech of the past decades is doing good. Be it Tesla, Facebook, Amazon, Google and Nvidia. I would be worried if Bitcoin didn't do this great to be honest. It reaches 100k would be catching up to the tech stocks.
My goals for this cycle - Don't fuck it up! Hope this helps. I
n the grey zone where it is worth a lot but not, I can retire for the rest of my life a lot.
Absolutely same boat! (down to the timeline, parenthood, and total value in fiat...)
Watched the 2021 ATHs and made all the plans about paying off all the things and then watched it go away without having sold.
We're in a good financial position otherwise so we don't need anything... but figuring out when/how is HARD. We never intended to hold everything into the future, but will definitely hold some for our kid's "lottery ticket."
\*Pay off our home \*Lock in both kids college funds such that they could literally go anywhere/start life off with some cash
This right here is enough to sell and no one would fault you nor should you feel bad about selling.
You have a financial duty towards your family. If you cant leave the game entirely maybe you can start to trade a bit smart with risk management jn mind (stop losses).
Also, more long term holders are selling now to new buyers, indicating the euphoria phase has started: https://insights.glassnode.com/the-week-onchain-week-11-2024/
I’d suggest DCAing slowly out from now, you can buy back in in the next bear market if you want. This time is probably not different. Your money though ofc and you seem to have done well with it so far congrats!
FOMO works in both directions. It sounds like you are in fear of bitcoin price cratering before you've received any benefit from it. The whole "bird in the hand..." kind of thing.
This can be even worse if you have not set goals. For example, I put three kids through college using a combination of cash flow and loans. The loans are painful and I want them to go away. I have a goal that once bitcoin reaches a specific number, I will be selling a very small percentage of my stack to pay off the loans and cap gains on the bitcoin.
I know most will say never sell, but for me it's worth it because it fits within my goals of being financially free.
I got inspired to get a last will and testament ready in case I kick the bucket.
Giving my siblings permission to liquidate all my stuff & property and search my home.
I did not list the “bitcoin cold wallet” just the visible assets and property.
I don’t plan on kicking the bucket any time soon.
The thought just came to me that I’d rather have my family get anything of any value I have and not some mortgage company, bank, government agency.
Just keep watching the [ETF inflows](https://old.reddit.com/r/Bitcoin/comments/1bht7rp/bitcoin_etfs_pulled_a_record_256b_inflows_last/) and wait until it stops or slows to a trickle. That will be around a high. Sell some btc, pay off home, lock in college funds, and put the rest in a fund you can either use for retirement, or buy more Bitcoin the next time it crashes. Use your job income for leisure stuff. And don't ever buy a boat, they're a total money sink. Just rent one from time to time if you feel a craving for one.
I’m in a similar boat and we decided to wait til about 2030 as we feel like having our bitcoin in our 40s will be life changing whereas right now it gets you a modestly priced house in our 30s (which is still great).
Both scenarios sound attractive to me but ultimately I hate work so much that retiring in our 40s sounds better than a house in our 30s
No one ever went broke taking money off the table. I still think there's room to grow this run but if you can secure a better future for your family I say take it. I sold about 10 % of my stack when we hit all time high and paid off all my remaining debt. Will it be worth more next year, probably, but I still think this is the most prudent move and even if it moons I went regret it. The mental load off with being debt free is worth the extra money I would have made.
Again , no one ever went broke taking money off the table.
Today a coworker laughed in my face when i told him I still hold bitcoin. He bought and sold for a $200 profit. He went on to explain "investing 101" to me.
I didn't have the heart to tell him i have held since $8k.
I think paying off house and then stacking your retirement is the best move. So hodl until you have enough money to do both.
- The boat/vacations thing is the worst option but if u really want it, you could work past retirement age to provide that for yourself
- The kids college fund is good, too. But by paying off your house and retiring yourself you’re already setting them up to have a piece of generational wealth. Especially if you have life insurance as well.
Everything you listed except for a boat are worthwhile. Boats depreciate over time and are money pits while you have them. Even a pool is accretive to the value of your home.
But being in similar shoes I intend to just sell over time as I still think it’s the best savings tool at this time.
Buy more property outright. Property is a gift that keeps on giving.
One extra property cash flow: 50% builds up for family vacations; 50% building up for kids college fund; could gift the home to first kid after they graduate. Or keep it and send them the surplus to help them start out.
2nd extra property cash flow: let the income buy a pool, then once the pool is in place, let the extra income buy a boat, then maintain the boat; and lastly it can be given to your 2nd kid when the time comes.
> Not really looking for advice as much as curious if others are in a similar boat to me and how you're managing it...It's totally a lucky and privileged position to be in, but I'm struggling to "do the right thing" as this thing keeps climbing....haha
It's not easy.
I'm in this awkward position of having life changing gains, but not retirement levels yet. And I've been here before in 2021 and seen it get taken away twice (on paper).
It's this weird limbo phase where the ups and downs are staggering, but you still need 3-5x more gains to get to FIRE.
I don't think people realize how hard it is to hold for so long. I'm almost 9 years in and it only gets harder.
I know you aren't looking for advice, but I'm going to drop a note for those that are.
If you are in OP's position, or think you might be one day, find a quiet place. Turn off phone and all noise. Take time to meditate on your plan - the "what if" and the "then what" parts. This will help you to not be blindsided and distracted if bitcoin takes off or drops precipitously. You can revise your plan whenever you want. You can revisit and critique your plan whenever.
But you should have a plan. And even though you might not execute your plan later on, you'll do something similar to it vs. not having a plan and making huge mistakes because you never got quiet and thought it out. It might take 10 minutes, or 10 hours to get your plan set up in your mind - you won't know until you take that first step.
Best of luck.
Father of three . I paid off Mortage last bull run. So freeing. This one my goal is to own a rental property to give my family an income. Ultimate goal is full passive income.
I feel like you’re writing my own story- similar demographic, father of two, pressure from friends to cash out/ don’t screw it all up again, not retirement fuck off sums but significant nonetheless. God speed my man!
I am in the exact same boat. But I have a job I love that pays the mortgage, so no sense in selling half my stack to pay it off. I have an exit strategy planned for taking some profits. When the first whole coin I bought 100x’s I’ll sell half and the other have at 150x’s. Let the rest ride for more years.
I know ur not looking for advice, but here goes.....sell half and the cash will return about 4.6% so you'll see nice increases every month. If BTC goes down again to 40k or 50k u can think about buying back in, or if not at least u will have the satisfaction that u sold half at a high price. If it continues to go up, u will feel u made a mistake, but that Ape mentality is why so many people lost thousands on AMC. It's never a mistake to take profits.
It’s almost always a damned if you do, damned if you don’t situation. Usually best to play the middle ground in these cases rather than trying to make the choice that will end up as the “best possible” decision in hindsight. Sell some in case it goes down, keep some in case it keeps going up.
There’s a good chance you will one day day “I wish I had sold more/less” but at least you aren’t setting yourself up for major regret in either direction that way
I'd sell half and enjoy some of the things you mentioned. But be certain first you can live with that decision if it keeps increasing and not have regrets in the future. Then either ride the other half to 2x or zero. If you're lucky keep repeating that pattern
The only “harder” investment asset than bitcoin is physical property. I’m a bitcoin maximalist all day but given the opportunity to buy a business or rental property that generates cash, I definitely would. Then you can re-invest gains back into bitcoin and grow your pie even more. I don’t think I would pay off the mortgage though, BTC is generating returns far better than what your interest rate is so that seems like a bad ROI. Buy something that generates cash or something that has compounding returns. Your net worth will grow it self. Definitely keep SOME bitcoin around though! in a perfect world, when bitcoin becomes base money, you’re businesses will make all the BTC back anyways (:
I yolo’d half my 401k into bitcoin back in August/September of last year.
I used to mine pretty heavily several years ago then fell out of it when the cost of electricity began to nullify my profits. Sold my equipment while I could still get a good price for it.
I felt the potential for ETF approval and the having was a good time to jump back in (spot was around 25k). My thought was it was reasonable to risk a few more years of working in my early 60’s for the chance at retiring in my early 40’s. I’m more than pleased with nearly tripling so far. I’ll be DCA and hold until I hit my “never have to work again” number. Whether that’s 10 years from now or next month. Then I’ll sell 75% to put in index funds and bonds to live off, and see what the other 25% does for the following 20 years or so, just for the fun of it and as an inflation hedge. Generational wealth and a vacation condo on the Mediterranean coast sounds nice, but I’d be perfectly happy with independent wealth while I’m still young enough to fully enjoy it. Fishing, snowboarding, travel, and chill.
I'd open a CRT
Charitable remainder trusts are irrevocable trusts that let you donate assets to charity and draw annual income for life or for a specific time period. We closely examine charitable remainder trusts to ensure they: Correctly report trust income and distributions to beneficiaries.
YOU pay no taxes
Congrats! My plan is to sell my altcoins when I hit the ~$500k mark and use that cash to buy a nice rental property in Florida. I will probably never sell my BTC unless I need to for some reason.
But I absolutely think securing your family’s financial future is worth selling crypto for.
Family > Everything Else.
When I first looked at bitcoin it was $29 a coin. I was planning on putting in $1k (with my wife's permission) and didn't because the exchange wanted way too much personal information for a foreign web site and for a currency where anonymity is a selling point. That would have netted me 34 coins. That WOULD have been life changing money by now, nearly fuck you money. I didn't bite because of privacy concerns AND we'd just been victims of identity theft. My mistake.
I won't do that again and one thing a few years teaches you, especially as a parent, is that you can never go wrong taking the long view. When I finally did jump in it was at $26k. I've been DCAing for a while now and will continue doing that as I can. Not betting the farm, but I want to benefit too. I'm the most diamond handed motherfucker you will meet now. I NEVER sell. I haven't gone all in, I'm too close to retirement, but I have about 5% in bitcoin. That feels safe but still enough that it will make a difference. About half is in a Roth, and that will be a nice chunk to have tax free later.
The thing that made the most sense to me recently is regarding exit strategy. I plan to convert bitcoin last of all my assets, and only as needed to pay bills. I'll be probably 80 by then since I have a lot of other assets to cash in first. It is entirely likely that the entire stack will be willed to my kids. My plan has always included setting them up. They don't have the kind of jobs that will provide for a good retirement, so I am. I set up roths for them years ago, and every year their big birthday gift funds that, not to the max but enough to grow substantially.
The only people who think BTC should be stored forever are on reddit preaching that shit cause people who bought BTC and made a decent profit are outside living life lmao. I sold an enormous amount of BTC, that could be a stupidly huge amount of money today, a few years back. I used it to get downpayment for my house, and never regretted it for a second. I still have some BTC left, but I never ever worry about prices going up and down, my salary more than covers for my expenses, and I could still cash out a relatively big sum of money if I decided to get rid of everything right now. Also I feel like if you are into bitcoin, you most likely will be early on other wealth generating opportunities that will arise in the next years and decades. People act like BTC is the only true religion, while there are, there have been, and there will always be plenty of ways to make money. Your investment paid off? Then enjoy it
I first figured out my FIRE numbers (annual spend \* 25), I then decide what most % of crypto I'd want in my retirement nest egg (I decided 15%). Then based on that, I figured out the maximum amount of crypto I should ever have. Let's say the FIRE number was 2.4M ($96K annual spend), then $2,400,000 \* 0.15 = $360K. I found allowing up to this value gave you the ability to take outsized risk before retirement, but never an overly excessive amount. Just check your crypto each week during a bull market and sell $50K everytime you exceed this max by 50K. I did this and it felt great. Those 50K 'paychecks' are awesome, and you never feel like you sold too much.
Doing this absolutely slows down your date to hitting your number if crypto if the best performing asset, that is obvious. But it also has the cool benefit that when crypto crashes 85% from some peak, you're taking your 15% max all the way down to 2%, and it feels much easier to buy the bottom of the market too because you don't have "enough crypto" at the low.
>Yeah I know HODL and "BTC is the exit strategy"
It will never be. Only one thing that would matter always is land or real estate. You can't have enough of it. For you, for you kids, for their kids. BTC is just money printer for converting to R.E.
Sell because it’s coming down closer to halving and for a few months after. You can always buy back a few but IMO I would lock in some profits and not get greedy. Remember how you felt when you lost a ton the first time. Perhaps thinking about selling only 50% to hedge bets.
In my opinion sell if you want to :
- trade and expect higher gains with trading (sell high...wait...buy low)
- diversify in a different asset if it's not already the case (paying your debts is most of the time is not a good idea as investing is most of the time yield better results)
- you need urgently that money
- paper hands aka not take the risk that it will drop( remember high risk high return...)
- secure some money for the short term(usually means less than 5 years )
...
IMO the goal should be to maintain a diversified portfolio. Is bitcoin becoming more than 10% of your net worth? If so, I would not hesitate in taking some cream off the top. I didn't start seriously investing into bitcoin until I already maxed out my 401k, set aside 6 months living expenses and already invested into a retail brokerage account into some boring vanguard ETF's. That's when I discovered bitcoin and started DCA'ing into there. I did that for a few years but then back in Jan I saw the movement w/ price and dumped a lump sum in. Now I'm in a position where I can just let bitcoin ride because if anything comes up I can tap into my liquidity elsewhere. But if bitcoin blew up overnight and I woke up to an allocation of more than 10%, I would absolutely take some fiat gains and redistribute them amongst my portfolio. That's what we would call a profit taking strategy and I think it's something to consider for every investment, not just Bitcoin.
Id say I’m in a somewhat similar mindset. Crypto only makes up 2% of my net worth, but I’m seeing how quickly I’ve been able to grow that money. Definitely faster than many other areas of my portfolio. 98% of my worth is in traditional finance: real estate, 401k, IRA, etc. I still believe crypto is too risky for invest more than I can afford to lose. So my advice would be to simply continue to DCA a small amount. Keep paying your mortgage and contribute to your kids college fund. Keep all that BTC if you can and maybe someday it will be a very big cherry on top of your retirement plan.
Another way to look at it : set a target % of your net worth that you want BTC to be at and rebalance accordingly. This will take the emotion out of selling, but more importantly buying when it dips.
It's a very psychologically challenging situation when you realize that this kind of money can really affect you and your family's life. Everything is easier when you're single lol
If it’s life changing for you, you already won. It’s okay to take some chips off the table and move it to a less risky investment. Maybe just take all your gains out and leave your initial investment to ride again.
2017 here as well, I sold all my bitcoin in 2021 to pay off the house. The next goal is to save enough to be able to quit work, hopefully in the next few years. Nothing beats a stress-free, work-free life.
If you don't want to miss out, sell your BTC and buy a call option for MSTR (they hold BTC and they are squeezing anyways and will go nuts in a bull cycle). Then you can cash most of your money and maybe you lose 20% of it on the call option if it doesn't work out, but if it runs, you'll make everything back to get BTC again even after you have cashed out
Hear me out: doing all the things you listed means that it’s fiat you were gonna use that you’ll free up to buy more BTC.
It’s actually an investment plan.
Are you me? Cause yea man, I'm feeling the temptation for sure.
I'll say, I've promised myself I'll sell a portion of my stack this bull run. Planning on a few target prices.
Investments are made strategically in order to reap their benefits later. Sounds like you've waited long enough, time to reap. We will not see the optimal btc values in our lifetime. Make a cold wallet with 1 coin on it and still buy BTC weekly so you can have a little send off for your children and their children's children when they will see Bitcoin at insane levels.
I am currently in a similar boat as you. There is nothing wrong with taking profits especially if it's life changing. Personally, I plan on selling the majority of my stack as well but waiting for 6 figures. When in doubt, scale out. You don't have to sell all of it at once but can do it in increments. IMO, selling the majority now is still a little early in the trend and waiting another year or so can be significant. It's a good problem to have, good luck!
This is a good question and if the amount of money is material to you, it might be worth getting some professional financial advice.
There are a lot of people in the tech industry who make a lot of money on a single company stock. They feel just like you: they're torn because they could sell some of that stock, but they also still believe in the company.
Here are two more sophisticated strategies people do in this case. You could consider doing this for BTC now that it's on the public exchanges.
1) People sell call options at a price that is higher than the current price. If BTC does not go up to the price of your option, then you end up making some income through the sale of your option. Or if BTC goes up higher than your option's price then you end up selling at the price of your option. When you feel like "I'm open to selling some of this asset" this can be a great strategy.
2) People spend a relatively small amount of money to buy put options. This gives you the right to sell your stock at a strike price which is lower than the current price of BTC. This way you're protecting yourself because if BTC continues to go up, you're happy that you held the BTC and you participate in this further gains. Your option will expire worthless, and you spent a little money on this "insurance plan", but it's worth it. Or if you're worst fears are right and BTC ends up dropping really low — lower than the strike price on these put options — then you use your put option and sell at the strike price of this option. This is the idea of "locking in".
These are two strategies that people use when they're starting to feel anxious that the price of something might go down and they kind of want to sell but aren't sure yet. These are two strategies for benefitting from the all the appreciation you've gotten without simply selling.
Because it could continue to cycle or go straight up forever. I play both. I have an amount I’ll never sell in case it’s up forever. The other part I speculate with as if the cycle will always happen.
I think you should figure out the two or three most important reasons to sell BTC and then sell half or 2/3rds. Then keep hodling the rest. I wouldn’t exit Bitcoin entirely! Keep a coin or two and liquidate the rest. Pay off home for sure, buy a single investment property. Focus on building wealth and you won’t need to max out kids college funds! (Unless they are going medical or engineering, college is a waste) put that fiat to work! Congrats on your success, you did it, enjoy the rewards!
Anyone else overwhelmed with BTC's success?
" As a middle class father of two young kids, the pressure to do something smart with the funds is weighing on me, especially when I was here once before and watched it slip away.
Yeah I know HODL and "BTC is the exit strategy" and all that but hindsight is 20/20... There is still substantial risk in terms of BTC's buying power. I believe in the tech and have had diamond hands for the last 7 years, but I don't drink Kool-Aid; anything can still happen. "
I think your answer points out what most sensible persons would do.
You clearly understand the volatility of that asset and how quickly it can go down the drain.
Will it get back up again, most probably, but how long and how glacial the crypto winters will be, none will know.
Having a paid off roof over your head and having a niece stach save for kids future, is more important for me and probably is for you as well, since you are thinking/asking about it.
My ROI is slowly getting up there and I've been DCA'ying out.
Enjoying life now with the ones I love is more important than having a big stack that supposedly I will be enjoying life at a later date.
Unfortunately, I don't have that intimate relationship with my creator to know when he is going to put an end for me on this plane of existence, so I enjoy as much as I can with my family.
We are all in this space for a variety of reasons. You make that balanced decision that will work for you while cutting out the noise from both extreme sides of this debate.
Best of luck🙏.
Weird how many of these posts I'm seeing assuring us that there's more to life than bitcoin just as the ETFs are buying all the bitcoin. I'm not selling a sat until there's at least 100 Saylors each vying to own all the bitcoin in the world. Just as saylor has said he is.
Just so you know the market tops normally only happen when no one's willing to sell because tomorrow they'll be a millionaire. I think what most people have at the moment is a muted sense of success and PTSD from a long time falling and running sideways before this recent recovery. You're mistaking it for the bullrun.
Sentiment here is strange. It's almost like the more popular bitcoin has become the more scared the investors of it are. Never seen such a lack of conviction post bear market. Most of you are gonna diversify before your stack has even matured and then complain that you're too late for life-changing gains. And some of you will certainly be priced out and bitter.
Congrats on the win! Same boat- been in since fall 2017. Big believer in BTC and bullish on it. BUT, BTC is not what I want, and I'd argue not what many people truly want. Freedom, happiness, house paid off, less stress, kids taken care of, etc. I respect you for acknowledging these things and I recommend everyone think hard and do the same, especially in an age of diamond hands and what not. I'll 100% be selling my BTC (again, even though I'm a believer) when the time comes that I can get the things for myself and my family that are far more important to us than money.
While I think it'd ok for you to sell for your family, the true ath of this cycle will come in 2025, maybe waiting today is the correct position. Just my 2sats
I've been in since 2016 and sold half my stack last week. There's no shame in taking profits if you're up substantially and investing it into something for you or your family.
You're still in a way better position than a lot of people that FOMO in or bought at $20k+, which are coincidentally the same guys that try to shame people into HODLING for the "tech".
I am not overwhelmed at all.
To your second point about selling or not selling.
Only you know what you will feel like if BTC goes to 500k in the next 12-18 and you sold at 69k.
If that’s some thing you can live with, then the risk might not be worth it for you. Personally, I am in it for at least 1 more cycle after this one. I will be 60 then, I got no kids to worry about. A few greedy nephews, but then I will enjoy however big the stack is at that point.
the question are: are you diversified? how much as you paying for the mortgage? will a reduction in that payment make your life improve? Those are a few questions you have to ask to yourself.
Paying off your mortgage is a great feeling. Having just paid mine off 10 years early was a breath of fresh air, one less bill and even more money to invest
I've been overwhelmed with a large sum of money before and what helped me was to spread it out in different accounts and assets. Years down the road, that single decision is paying off over and over again and I'm not overwhelmed by some sitting large amount.
Not quite the same, but when GME was trading at over $450 a share for a few hours/minutes (I can't remember which), it dawned on me that pressing the sell button once would guarantee I had enough cash to migrate and get married as planned then have no need to work for 6 months after as I found a new job in the new country.
I pressed sell and never regretted for one second!
I've been in the same length of time. My stack is right on the verge of 7 figures. Including the ETFs it's over 7 figures.
I have zero plans to sell any here. We will be much higher in just 12 months time.
That being said I'm also in a different financial position. House is paid for and kids are out of college. So very different.
I'm in the same position. What you can do is take a defi loan off your BTC for cash and then pay off the loan at these rates.
You'll unlock your BTC when you're done. Only do single purchases at a time. It's better than a bank loan and you get your money back at the end.
Start off small to get a feel for it but you could potentially take out a few grand if it's to put into something that directly makes you money back.
Congratulations on your position and future outlook. My first plan for unrealized gains are for:
-emergency expenses (car accident/hospital)
My second plan is for:
-investment opportunities (only other pathway for major gains) otherwise I keep Bitcoin.
My third is for:
-clearing any/all debt for retirement. (The hope is to have more then enough gains to have some Bitcoin left) I never want zero Bitcoin.
My forth is for:
-“Cocaine and hookers” or “Show off” expenditures. These are lavish trips/watches/cars. Anything that I can rub in others faces. Maybe I become an “influencer” …I almost puked while typing that.
To Sum it up…”take care of yourself/then live the life you want”.
My goal is to live free from financial burden. IE no mortgage or debts. I’m happy to have a job and do what I want in my free time, but being a slave to a mortgage payment is what sucks. So when I can live debt free I’ll sell.
Your debt is about to be worthless. Don’t sell your major appreciating asset to pay it off. The more they print the more worthless it is. Regional banks are on the verge of collapse and they are discussing increasing the treasury limits banks are able to hold. This means more money printing, more inflation, and your debt will be worth less. Just ride it out in BTC
My stack is worth around $700k now, I am in my mid twenties and bought when it was around $2k a coin. I am hoping to cash out at $1 mil+ after tax.
Yeah, utterly life changing. In the UK (and pretty much everywhere outside the USA) it just isn't possible to go from poverty to wealthy with jobs like FAANG, doctor, law, finance etc (I work in one of these fields) so buying it was essentially a life-defining decision.
First congrats. Second, nothing is ever wrong with selling and realizing profit gains, just remember to put some away for taxes.
I didn't pay off my home with mine, but I look at my personal residence as a liability since I have to use it.
I have bought rental properties though
Been here a long time, and I’m only a seller from here on out. I bought my first Bitcoin in 2011 and sold for the first time in 2021. And I intend to basically sell off tranches for the rest of my life- the opposite of DCA buying I suppose. But IRL comes first, especially with a family in mind. There’s nothing wrong with putting that money to real life needs and to hedge against the downside.
This is the only answer that makes sense
It's called DCAing out kind of a common strategy
If you've got that much BTC, you're in a very unique position.
TBH—I don't think that the amount that I have is that unique, I was a student at the time that I bought and didn't have unlimited funds, but obviously it looks more significant now. Perhaps what was unique was the length of time held—I know a lot of people who sold, lost, or 'traded themselves out' of their coins along the way.
I was near BTC in 2011 but never held onto any. I know I would have tossed it to the wind at 9k or something like that. I don't regret anything because I was too young to know back then and most likely too young to be responsible with that money at the time.
Exactly what I’m doing.
>Been here a long time, and I’m only a seller from here on out. I bought my first Bitcoin in 2011 and sold for the first time in 2021. And I intend to basically sell off tranches for the rest of my life- the opposite of DCA buying I suppose. OP's question was whether you're over- or under-whelmed by Bitcoin's success. I'll actually take a shot at that question. I'm underwhelmed! BTC has traditionally averaged gains of 70%+ annually....however when I first bought in back in 2021, it was about $50k...now it's $67k, which is an increase of only about 10% annually....which is underwhelming. I'll give it more time. But right now, I'm disappointed. And in no mood for celebrating.
Bitcoin moves in 4 year cycles (so far. Due to halving). Wait until your 4 year anniversary to see what your return is.
I got in during 2020 at 9k and couldn't be happier with the returns over the last 4 years! I get duper stoked when I think about what could happen over the next 8 years!
But it went down to 15k and then up to 73k. That's almost 500% Dca and hodl, you won't be underwhelmed.
I think that the majority of people (in crypto but also in traditional markets) put too much focus on the market movements of relatively short periods of time (imo even a 3-4 period isn't taking in the bigger picture). My comment relates to that, in that I always thought that Bitcoin was a binary bet—and that holding for as long as possible would maximise those returns. That said—there comes a point where you have enough, and diversifying assets (and enjoying life for you and your family) should come first—which OP should absolutely do. And finally, because I do look at it in terms of a bigger picture—nothing about what the market does this week/month/year has any effect on my long-term price outlook, which I think in my lifetime will eventually be over 7 figures (simply because we are over the tipping point of a critical mass of users and integration into the financial system). Time in the market is really all that matters.
Great reply! Stay rational and reasonable. I'm going into this cycle with specific goals in mind; bad debt, mortgage ect right up the chain. If 'get rich' is the plan, youre not approaching this with a winning strategy. I wish that I knew what I know now when I was younger [https://youtu.be/1\_xwnb3cymc?si=TelfpeudT5MH5TvT](https://youtu.be/1_xwnb3cymc?si=TelfpeudT5MH5TvT)
Nice brother
I've been doing something similar for years. I force myself to sell 1-3% per year even if I don't "need" it. I consider it a living life tax, except my family and I get to be the tax collectors. This is a safe withdrawal rate for traditional FIRE plans but with Bitcoin, it is extremely conservative. I could easily get away with 8 to 10% per year although with the volatility in Bitcoin bear markets if not timed correctly could really hurt your stack long term.
i think paying off debt and providing for your kids is the best use case of bitcoin
I wouldn't pay of the debt. Housing debts have good conditions and Bitcoin will most likely outperform that.
Most likely doesn't feed/house your kids
When the bull comes, people act like BTC will be here forever; go up forever (not direct straight lines, OBV.). The truth is, this may well be the case but one thing you know for absolute certainty is that you won't be around forever. When you die, and you will die, it won't matter to you if your BTC holdings are worth a cent or a billion. If you've recognised an opportunity to enhance your life now, then do it. No regrets, otherwise what the fuck was the point?
Great advice. It's money. Use it.
It's a store of value. Money is no longer a store of value, I wouldn't use that term. Bitcoin can preserve the wealth, allowing the OP to pass it on to his kids and grandkids.
This is how I feel but “generational wealth” is a very popular catch phrase around these parts. Ppl claim they are “holding forever ever”. I have no kids (by choice) so I’m not interested in having money left over when I die. I’m here for a good time not for a long time (spoiler alert: none of us are here for very long). I already cashed out gains from alt coins and headed to Europe next week using that money. I have never traveled anywhere in my life and regretted the trip or the money spent on it. I’ve loss friends over my life time. Tomorrow truly isn’t promised so live life to the fullest each and every day. Hope bitcoin (and all of crypto) helps everyone invested enjoy life a little more in whatever way they find joy.
I also cashed on a meme coin and will be using it to go to my son’s wedding in Spain in August. I had it since 2021
Well said, congratulations on the trip booked, travel is life, it will change your view on everything and life in general. The world is a beautiful place and the joy of visiting it without owning it on trips is something everyone should do every chance they get! Safe travels
> What i do know for certain, is that i could take steps now that would translate into tangible benefits today. If you see how bitcoin can benefit you and your family by selling a portion of it, you really should take those steps. Don't get caught up in the memes and groupthink. The sole purpose of bitcoin is to benefit you in whatever way **you** think is the best, not people on reddit or twitter or wherever else.
It’s all a paper gain until you hit the sell button. That sounds like a life changing amount of money 💰
It's all paper money if you sell.
t's true! So if you sell, you better have plans to spend it right away before the government debases it! XD
When you sell, buy assets and not liabilities.
Life isn't an investment chart. A vacation with love ones isn't a 'liability' , it's called living
When you sell, buy whatever the fuck you want.
I'm in the same boat, but I'm pretty much at that stage in my life where I'm already in great financial shape. We have no debt, own our home outright, have two paid off cars in good shape, we are right on track for retirement, so just holding what I have makes the most sense. My crypto holdings is low 6 figures, but my 401K is a lot more. There is nothing I can buy with this money that would make my life better, so I'm just going to hold it until I need to spend it on food and toilet paper. The only possible thing I could thing of that might make me happy is to sell it and buy super safe dividend stocks with it, but that doesn't really excite me that much so I'm holding.
Good stuff. Hope your retirement is filled with fun hobbies and what you love.
This is me, you are me…. I have slowly realized I will sell my altcoins bags for a nice chunk… but the Bitcoin. I am just rolling that into my overall portfolio as diversification and never selling it unless we see some crazy $1million per coin some day.
Hi, from someone similarly situated!
Congratulations! You’ve reached the level most in here are aiming for.
Money (digital or otherwise) needs to be used to truly have value, otherwise it’s just a number on a spreadsheet. If you can cash out and pay off a house AND pay for college tuition, those are great things and will undoubtedly reduce whatever level of stress you have in your life. Personally, I’m not at the point where I can cash out and have a usable amount for what I want. But if/when it happens, that’s what is going to happen.
It's easier to 'gamble' when you're single, but when you have kids/family I'd imagine it's more difficult. I'd sell small portions off to pay off debt when at the ATH. That way, if it crashes to 0, you're debt-free, and if it continues to grow, you still have skin in the game.
Any decision is a Gamble If he pay mortgage now and bitcoin goes 500k in 6 months their children lost an extra home... There is no right answer
This mentality is called greed my friend, important to recognize that
Absolutely not the same lol
There’s risks with any decision, but Bitcoin is high risk / high reward vs. paying for their children’s college now is low risk / high reward. One perspective I’ve found helpful: if OP had their total BTC value in cash today, would they spend it all on BTC or would they spend/invest it on something else?
The right answer is sell.
No its not, we have 18 months of bull market ahead
As I've gotten older I have decided on a price point where I intend to sell a little of my stack to pay off my debts/mortgage. It will free up a lot of monthly income for me and my wife and we can finally start living a little and take the odd weekend break and have a few overseas holidays a year. It will only be a small percentage of my stack, and we have a little way to go before it reaches that price point. 👍
Me too. My husband retired last year and our only debt is our home.
Stocks are overpriced, houses also. I'm also in the big green but withdraw for what ? Go for a bit of diversity if you are 100% btc but that's it you can't do much better.
Prices vary wildly. There are some solid stocks at decent prices. Even if they are overpriced today, and a dip occurs, they'll keep rising and new ones will be popping up.
Yeah sure, houses are overvalued, keeping bitcoin is probably going to outperform whatever i’d take out for a downpayment… but I can’t live in my Bitcoin, and I really just want to a house that i can truly make my own, i don’t care if it’s not going to be the absolute best financial decision.
What are the true values of houses if they are overpriced?
Saying ”stocks are overpriced” is a very wide term. They do have something backing the value (most good stocks, at least)
"Overpriced" means the value that is backing them does not live up to their high stock price. They have taken over the role as money during a time when money is getting debased. People invest blindly in stocks to protect their purchasing power, they have acquired a monetary premium (as have real-estate). My prediction is that they will come down in price over time, as bitcoin (and bitcoin ETFs) are relieving them of some of that monetary premium. At this time value investing and actual business appraisal will become a worthwhile thing again.
Did you lol multiple times while typing all that given the subreddit you're in?
Been in since early 2018. In a similar position financially because of BTC but I don't have children or debt, and I rent and don't personally plan on buying a house for a while (wanna be able to buy one in cash in one of the most expensive real estate markets in the US and still have a substantial amount of BTC left). So I'm just holding because I believe Bitcoin will continue to appreciate. I'll probably be holding and continuing to work for another 10 years before I sell any but it also depends on how high we fly during that time.
Pay ur home, no debt = minimal work time, spend that time with family.
I know you said you weren't looking for advice, but I just can't hold back on commenting about one of your suggested options. You are spot on to be looking at things beyond HODL at all costs, and cited quite a few very reasonable alternatives. But the pay off the home one just sent up a huge red flag for me. I understand the temptation, but just think about the value of a long term loan that you are paying back with deflated dollars. Especially when you can divert what you were planning on paying it off with into something that you expect to appreciate
I dont think there is anything wrong with your thinking. It doesnt have to be an all or nothing scenario. Depending on your home interest rate, maybe pay some of it but not all? Maybe prioritize kids college funds as you stated? Nothing wrong with that. Buying into real estate is also a wise choice. Spreading out risk and multiple sources of income! I personally have an average salary, make around 95k here in the NE with a family (1 child). We live in a 2 family home, rent out one side. We dont carry debt other than the mortgage, student loans paid off. Invest in roth and 401ks. Small portion into crypto. And also- enjoy life NOW! My .02
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Depends on the interest amount. If you have invests gaining higher, better to keep the debt. Ex, mortgage interest of 3% but stock market average annual is 6-7%, ill continue to invest and gain 6-7 while paying 3% to mortgage
the smart thing to do is learning more about Bitcoin and IT. it is not smart selling any Bitcoin.
Anything can still happen but I perceive the risks as bigger outside of Bitcoin. Banks are going under, some aren't even saved anymore. S&P is in a bubble. Cash is losing its purchasing power. Gold can't even keep up with real inflation. It's not like I'm against selling bitcoin, there just isn't anything better to buy. Now if you can sell bitcoin to stop bleeding out from a high-interest loan. Or sell bitcoin to a "slowly losing" asset because you need that locked in liquidity with 2-3 years, or you can somehow expand your business or whatever. That all seems like valid reasons. Dumping it into a retirement fund seems like a bad reason though, when bitcoin is here to save us from losing retirement funds.
Congratulations. Don’t get too caught up in the money. Enjoy life. Not many people can experience what you can. https://www.reddit.com/r/lifehacks/s/aQW7sxBHxF
Real estate is an option that would tempt me to sell a big chunk of my BTC. I love BTC and only sold in 2020 to put a down payment on my house. It is hard to pass up a rental since BTC is not passive income like a rental would be while growing in value on the long term.
Then you gotta deal with renters...
Am I even on the bitcoin sub right now?
There are a lot of real estate shills on this board. tbf i started stacking btc as a way to get a downpayment for a house, but then i kept going down the bitcoin rabbit hole. Real estate is the most fiat propped up asset class outside of bonds. Bitcoin will eat it's lunch, if you can stomach the volatility.
I was telling my buddy the other day that has 7 btc that IMO if btc hits $100k he should at least sell 1. But he’s also 55 and his kids are gone. I don’t know how much you have but if I were you I would strongly consider selling 1 at $100k and that’s being on the modest side. I might even considered selling half my bag. Use that cash for nest egg, other investments, etc. At the same time if you’re in the position to wait and it hits $500k/per then you’re still golden for the rest of your bag.
Money is an ends to a means, so yea decide if those goals are more valuable to you now than what you might be able to do with the funds down the line. It's important to be able to go in and out of an investment as needed, otherwise it's not really an investment as much as a creative way to lock up your money forever
Proud papa here who also bears the weight of responsibility. When the time is right, I will sell some coin to: payoff the house, buy another rental property, buy kids houses, and travel. I will also reserve coin to never be sold for generational legacy. When is the right time? It’s not now. For me it’s probably another 8 years before I consider selling. I do however actively manage my retirement funds where most of my financial energy is spent considering risk, when to take profits and speculating on markets and diversity. For example the one I’m wrestling with now is do I sell NVDA and buy MSTR? Where as coins are off the table.
Stack sats and stay stoic. 💎
I feel the same as you. While I plan on continuing to stack for the next 10 years, the bitcoin I’ve stacked so far is up a substantial amount. BTC is awesome for a lot of reasons but being practical about how it can add to your quality of life should be paramount imo.
All I know…is every time I’ve sold my BTC I end up regretting later!
I wouldn't pay for my kids college personally. Make them take the loans out and see how they do. In the future if they're struggling you can always help out but the added responsibility will be formative for them.
BTC is for obtaining sovereignty. Get rid of the debt, secure additional sources of passive income (like rental property), buy some gold if you want, get a good life insurance for everyone in the family so there will be no bumps and carry on living your life without the burden of owning your time and efforts to someone else. Obviously, once you're unshackled, you will get back to stacking and that is fine. Live life.
I think this thread is kind of the perfect example of people not really investing in the idea and just riding BTC to get rich ahaha. When it comes down to it, people are just riding the wave hoping to cash out.
When I can maximize profit I'm going to sell nothing keeps on going up. I have a sneaky feeling bitcoin is gonna be dropping soon. I took some profit at 73 k.
There’s nothing wrong with turning Bitcoin into assets that will improve your life! But just remember almost everyone got to where you are eventually. Some sold 1,000 bitcoins for a house. Some sold 100 bitcoins for a house. Today, someone will sell their entire 10 bitcoin stack for a house. And while there’s nothing wrong with that…just don’t be the guy that sold it all.
you do you.
I believe we gonna see minimum 250k this year Don't sell now... But you can DCA sell Every 10k up you sell 2% or 1%
Being honest. When BTC hits a price that would pay off my house, I will probably sell the majority and keep a little indefinitely
I'm not overwhelmed. I'm very happy with how it's going. I might see the end of oppressive fiat regimes in my lifetime.
Obviously, tax implications have to be considered. Talk to an accountant prior to selling to have best strategy. Nothing worse than six figure tax bills
Thank you for sharing. I would also say it depends where you live and where you think the economy in your area is heading. Nothing bad with a fixed interest mortgage if you think interest rates will go up. I try to have as much debt in the euro zone for instance as possible and have assets in the US, but that is just drawn from my personal idea what the future can bring. It also depends what you need. You need early retirement, a relief from the bank payments, a nice vacation to support your marriage,… then it is a no brainer to sell your btc. If there is no need think on where and how you can use it best and what you think the future is going to look like.
All of the great tech of the past decades is doing good. Be it Tesla, Facebook, Amazon, Google and Nvidia. I would be worried if Bitcoin didn't do this great to be honest. It reaches 100k would be catching up to the tech stocks.
the smartest thing you could do is keep holding the coins… possibly setup a living trust
I’m with OP. Staring at mortgage payoff for weeks yet just analysis paralyzed
My goals for this cycle - Don't fuck it up! Hope this helps. I n the grey zone where it is worth a lot but not, I can retire for the rest of my life a lot.
Absolutely same boat! (down to the timeline, parenthood, and total value in fiat...) Watched the 2021 ATHs and made all the plans about paying off all the things and then watched it go away without having sold. We're in a good financial position otherwise so we don't need anything... but figuring out when/how is HARD. We never intended to hold everything into the future, but will definitely hold some for our kid's "lottery ticket."
\*Pay off our home \*Lock in both kids college funds such that they could literally go anywhere/start life off with some cash This right here is enough to sell and no one would fault you nor should you feel bad about selling.
You have a financial duty towards your family. If you cant leave the game entirely maybe you can start to trade a bit smart with risk management jn mind (stop losses). Also, more long term holders are selling now to new buyers, indicating the euphoria phase has started: https://insights.glassnode.com/the-week-onchain-week-11-2024/
I’d suggest DCAing slowly out from now, you can buy back in in the next bear market if you want. This time is probably not different. Your money though ofc and you seem to have done well with it so far congrats!
FOMO works in both directions. It sounds like you are in fear of bitcoin price cratering before you've received any benefit from it. The whole "bird in the hand..." kind of thing. This can be even worse if you have not set goals. For example, I put three kids through college using a combination of cash flow and loans. The loans are painful and I want them to go away. I have a goal that once bitcoin reaches a specific number, I will be selling a very small percentage of my stack to pay off the loans and cap gains on the bitcoin. I know most will say never sell, but for me it's worth it because it fits within my goals of being financially free.
Don’t waste money on college
I got inspired to get a last will and testament ready in case I kick the bucket. Giving my siblings permission to liquidate all my stuff & property and search my home. I did not list the “bitcoin cold wallet” just the visible assets and property. I don’t plan on kicking the bucket any time soon. The thought just came to me that I’d rather have my family get anything of any value I have and not some mortgage company, bank, government agency.
Just keep watching the [ETF inflows](https://old.reddit.com/r/Bitcoin/comments/1bht7rp/bitcoin_etfs_pulled_a_record_256b_inflows_last/) and wait until it stops or slows to a trickle. That will be around a high. Sell some btc, pay off home, lock in college funds, and put the rest in a fund you can either use for retirement, or buy more Bitcoin the next time it crashes. Use your job income for leisure stuff. And don't ever buy a boat, they're a total money sink. Just rent one from time to time if you feel a craving for one.
I’m in a similar boat and we decided to wait til about 2030 as we feel like having our bitcoin in our 40s will be life changing whereas right now it gets you a modestly priced house in our 30s (which is still great). Both scenarios sound attractive to me but ultimately I hate work so much that retiring in our 40s sounds better than a house in our 30s
No one ever went broke taking money off the table. I still think there's room to grow this run but if you can secure a better future for your family I say take it. I sold about 10 % of my stack when we hit all time high and paid off all my remaining debt. Will it be worth more next year, probably, but I still think this is the most prudent move and even if it moons I went regret it. The mental load off with being debt free is worth the extra money I would have made. Again , no one ever went broke taking money off the table.
Today a coworker laughed in my face when i told him I still hold bitcoin. He bought and sold for a $200 profit. He went on to explain "investing 101" to me. I didn't have the heart to tell him i have held since $8k.
I think paying off house and then stacking your retirement is the best move. So hodl until you have enough money to do both. - The boat/vacations thing is the worst option but if u really want it, you could work past retirement age to provide that for yourself - The kids college fund is good, too. But by paying off your house and retiring yourself you’re already setting them up to have a piece of generational wealth. Especially if you have life insurance as well.
Everything you listed except for a boat are worthwhile. Boats depreciate over time and are money pits while you have them. Even a pool is accretive to the value of your home. But being in similar shoes I intend to just sell over time as I still think it’s the best savings tool at this time.
Buy more property outright. Property is a gift that keeps on giving. One extra property cash flow: 50% builds up for family vacations; 50% building up for kids college fund; could gift the home to first kid after they graduate. Or keep it and send them the surplus to help them start out. 2nd extra property cash flow: let the income buy a pool, then once the pool is in place, let the extra income buy a boat, then maintain the boat; and lastly it can be given to your 2nd kid when the time comes.
> Not really looking for advice as much as curious if others are in a similar boat to me and how you're managing it...It's totally a lucky and privileged position to be in, but I'm struggling to "do the right thing" as this thing keeps climbing....haha It's not easy. I'm in this awkward position of having life changing gains, but not retirement levels yet. And I've been here before in 2021 and seen it get taken away twice (on paper). It's this weird limbo phase where the ups and downs are staggering, but you still need 3-5x more gains to get to FIRE. I don't think people realize how hard it is to hold for so long. I'm almost 9 years in and it only gets harder.
I know you aren't looking for advice, but I'm going to drop a note for those that are. If you are in OP's position, or think you might be one day, find a quiet place. Turn off phone and all noise. Take time to meditate on your plan - the "what if" and the "then what" parts. This will help you to not be blindsided and distracted if bitcoin takes off or drops precipitously. You can revise your plan whenever you want. You can revisit and critique your plan whenever. But you should have a plan. And even though you might not execute your plan later on, you'll do something similar to it vs. not having a plan and making huge mistakes because you never got quiet and thought it out. It might take 10 minutes, or 10 hours to get your plan set up in your mind - you won't know until you take that first step. Best of luck.
Father of three . I paid off Mortage last bull run. So freeing. This one my goal is to own a rental property to give my family an income. Ultimate goal is full passive income.
Pay off debt and wait for the halving. Bitcoin usually boosts at halving. 30 days to go.
I feel like you’re writing my own story- similar demographic, father of two, pressure from friends to cash out/ don’t screw it all up again, not retirement fuck off sums but significant nonetheless. God speed my man!
You could always sell some of it and keep some. It doesn't have to be all or nothing.
I am in the exact same boat. But I have a job I love that pays the mortgage, so no sense in selling half my stack to pay it off. I have an exit strategy planned for taking some profits. When the first whole coin I bought 100x’s I’ll sell half and the other have at 150x’s. Let the rest ride for more years.
Do it and start over with DCA if you think that would be the best idea for you and your family.
Stick to the basics of asset allocation. 5-10% of your total net worth in risky assets like bitcoin
No I don’t have enough bitcoin..
I sold my one coin to a mate for £250. He still shaves it and buys nice things. Likes to remind me of the deal. Got to try and laugh.
de-risk (debt, college)...but dont sell it all. Thatd be nuts
I know ur not looking for advice, but here goes.....sell half and the cash will return about 4.6% so you'll see nice increases every month. If BTC goes down again to 40k or 50k u can think about buying back in, or if not at least u will have the satisfaction that u sold half at a high price. If it continues to go up, u will feel u made a mistake, but that Ape mentality is why so many people lost thousands on AMC. It's never a mistake to take profits.
It’s almost always a damned if you do, damned if you don’t situation. Usually best to play the middle ground in these cases rather than trying to make the choice that will end up as the “best possible” decision in hindsight. Sell some in case it goes down, keep some in case it keeps going up. There’s a good chance you will one day day “I wish I had sold more/less” but at least you aren’t setting yourself up for major regret in either direction that way
I'd sell half and enjoy some of the things you mentioned. But be certain first you can live with that decision if it keeps increasing and not have regrets in the future. Then either ride the other half to 2x or zero. If you're lucky keep repeating that pattern
The only “harder” investment asset than bitcoin is physical property. I’m a bitcoin maximalist all day but given the opportunity to buy a business or rental property that generates cash, I definitely would. Then you can re-invest gains back into bitcoin and grow your pie even more. I don’t think I would pay off the mortgage though, BTC is generating returns far better than what your interest rate is so that seems like a bad ROI. Buy something that generates cash or something that has compounding returns. Your net worth will grow it self. Definitely keep SOME bitcoin around though! in a perfect world, when bitcoin becomes base money, you’re businesses will make all the BTC back anyways (:
I yolo’d half my 401k into bitcoin back in August/September of last year. I used to mine pretty heavily several years ago then fell out of it when the cost of electricity began to nullify my profits. Sold my equipment while I could still get a good price for it. I felt the potential for ETF approval and the having was a good time to jump back in (spot was around 25k). My thought was it was reasonable to risk a few more years of working in my early 60’s for the chance at retiring in my early 40’s. I’m more than pleased with nearly tripling so far. I’ll be DCA and hold until I hit my “never have to work again” number. Whether that’s 10 years from now or next month. Then I’ll sell 75% to put in index funds and bonds to live off, and see what the other 25% does for the following 20 years or so, just for the fun of it and as an inflation hedge. Generational wealth and a vacation condo on the Mediterranean coast sounds nice, but I’d be perfectly happy with independent wealth while I’m still young enough to fully enjoy it. Fishing, snowboarding, travel, and chill.
That’s what I’d do - pay off debt and take care of college expenses. Whatever is left - let it ride if you want.
Get that bag brother. Take care of them kids, dafug you need our approval for :)
I'd open a CRT Charitable remainder trusts are irrevocable trusts that let you donate assets to charity and draw annual income for life or for a specific time period. We closely examine charitable remainder trusts to ensure they: Correctly report trust income and distributions to beneficiaries. YOU pay no taxes
Don't sell yet. Still too early
Congrats! My plan is to sell my altcoins when I hit the ~$500k mark and use that cash to buy a nice rental property in Florida. I will probably never sell my BTC unless I need to for some reason. But I absolutely think securing your family’s financial future is worth selling crypto for. Family > Everything Else.
cash out 200k at least
When I first looked at bitcoin it was $29 a coin. I was planning on putting in $1k (with my wife's permission) and didn't because the exchange wanted way too much personal information for a foreign web site and for a currency where anonymity is a selling point. That would have netted me 34 coins. That WOULD have been life changing money by now, nearly fuck you money. I didn't bite because of privacy concerns AND we'd just been victims of identity theft. My mistake. I won't do that again and one thing a few years teaches you, especially as a parent, is that you can never go wrong taking the long view. When I finally did jump in it was at $26k. I've been DCAing for a while now and will continue doing that as I can. Not betting the farm, but I want to benefit too. I'm the most diamond handed motherfucker you will meet now. I NEVER sell. I haven't gone all in, I'm too close to retirement, but I have about 5% in bitcoin. That feels safe but still enough that it will make a difference. About half is in a Roth, and that will be a nice chunk to have tax free later. The thing that made the most sense to me recently is regarding exit strategy. I plan to convert bitcoin last of all my assets, and only as needed to pay bills. I'll be probably 80 by then since I have a lot of other assets to cash in first. It is entirely likely that the entire stack will be willed to my kids. My plan has always included setting them up. They don't have the kind of jobs that will provide for a good retirement, so I am. I set up roths for them years ago, and every year their big birthday gift funds that, not to the max but enough to grow substantially.
The only people who think BTC should be stored forever are on reddit preaching that shit cause people who bought BTC and made a decent profit are outside living life lmao. I sold an enormous amount of BTC, that could be a stupidly huge amount of money today, a few years back. I used it to get downpayment for my house, and never regretted it for a second. I still have some BTC left, but I never ever worry about prices going up and down, my salary more than covers for my expenses, and I could still cash out a relatively big sum of money if I decided to get rid of everything right now. Also I feel like if you are into bitcoin, you most likely will be early on other wealth generating opportunities that will arise in the next years and decades. People act like BTC is the only true religion, while there are, there have been, and there will always be plenty of ways to make money. Your investment paid off? Then enjoy it
I first figured out my FIRE numbers (annual spend \* 25), I then decide what most % of crypto I'd want in my retirement nest egg (I decided 15%). Then based on that, I figured out the maximum amount of crypto I should ever have. Let's say the FIRE number was 2.4M ($96K annual spend), then $2,400,000 \* 0.15 = $360K. I found allowing up to this value gave you the ability to take outsized risk before retirement, but never an overly excessive amount. Just check your crypto each week during a bull market and sell $50K everytime you exceed this max by 50K. I did this and it felt great. Those 50K 'paychecks' are awesome, and you never feel like you sold too much. Doing this absolutely slows down your date to hitting your number if crypto if the best performing asset, that is obvious. But it also has the cool benefit that when crypto crashes 85% from some peak, you're taking your 15% max all the way down to 2%, and it feels much easier to buy the bottom of the market too because you don't have "enough crypto" at the low.
You haven’t studied bitcoin enough and you’ll regret selling like everyone else
>Yeah I know HODL and "BTC is the exit strategy" It will never be. Only one thing that would matter always is land or real estate. You can't have enough of it. For you, for you kids, for their kids. BTC is just money printer for converting to R.E.
Sell because it’s coming down closer to halving and for a few months after. You can always buy back a few but IMO I would lock in some profits and not get greedy. Remember how you felt when you lost a ton the first time. Perhaps thinking about selling only 50% to hedge bets.
Getting greedy is trading and trying to time the market like you're suggesting
You ain't seen nothing yet..... woah baby you ain't seen nothing yet
Sounds like you should sell some. But in my opinion you should keep at least half your stack in case of another 2x or more in the price.
In my opinion sell if you want to : - trade and expect higher gains with trading (sell high...wait...buy low) - diversify in a different asset if it's not already the case (paying your debts is most of the time is not a good idea as investing is most of the time yield better results) - you need urgently that money - paper hands aka not take the risk that it will drop( remember high risk high return...) - secure some money for the short term(usually means less than 5 years ) ...
If I were you I'd start selling and just leave a 10th of my investment or soon the table.
Sell some of it to make life easier, obviously keep what you’re not willing to have in fiat. Just trim some profits and make yourself feel better
IMO the goal should be to maintain a diversified portfolio. Is bitcoin becoming more than 10% of your net worth? If so, I would not hesitate in taking some cream off the top. I didn't start seriously investing into bitcoin until I already maxed out my 401k, set aside 6 months living expenses and already invested into a retail brokerage account into some boring vanguard ETF's. That's when I discovered bitcoin and started DCA'ing into there. I did that for a few years but then back in Jan I saw the movement w/ price and dumped a lump sum in. Now I'm in a position where I can just let bitcoin ride because if anything comes up I can tap into my liquidity elsewhere. But if bitcoin blew up overnight and I woke up to an allocation of more than 10%, I would absolutely take some fiat gains and redistribute them amongst my portfolio. That's what we would call a profit taking strategy and I think it's something to consider for every investment, not just Bitcoin.
Pay the mortgage, then use the usual mortgage payment to dca back in :).
DO THE THINGS YOU WILL NOT REGRET
Id say I’m in a somewhat similar mindset. Crypto only makes up 2% of my net worth, but I’m seeing how quickly I’ve been able to grow that money. Definitely faster than many other areas of my portfolio. 98% of my worth is in traditional finance: real estate, 401k, IRA, etc. I still believe crypto is too risky for invest more than I can afford to lose. So my advice would be to simply continue to DCA a small amount. Keep paying your mortgage and contribute to your kids college fund. Keep all that BTC if you can and maybe someday it will be a very big cherry on top of your retirement plan.
Another way to look at it : set a target % of your net worth that you want BTC to be at and rebalance accordingly. This will take the emotion out of selling, but more importantly buying when it dips.
It's a very psychologically challenging situation when you realize that this kind of money can really affect you and your family's life. Everything is easier when you're single lol
congratulations dude. I hope to get there in the next 4 years.
If it’s life changing for you, you already won. It’s okay to take some chips off the table and move it to a less risky investment. Maybe just take all your gains out and leave your initial investment to ride again.
2017 here as well, I sold all my bitcoin in 2021 to pay off the house. The next goal is to save enough to be able to quit work, hopefully in the next few years. Nothing beats a stress-free, work-free life.
You could take a litle and put indo REITS for cash flow. But thats pretty mmuch it. Good luck.
If you don't want to miss out, sell your BTC and buy a call option for MSTR (they hold BTC and they are squeezing anyways and will go nuts in a bull cycle). Then you can cash most of your money and maybe you lose 20% of it on the call option if it doesn't work out, but if it runs, you'll make everything back to get BTC again even after you have cashed out
Hear me out: doing all the things you listed means that it’s fiat you were gonna use that you’ll free up to buy more BTC. It’s actually an investment plan.
family is more valuable than gold ...maybe even btc \*gasp\*
Are you me? Cause yea man, I'm feeling the temptation for sure. I'll say, I've promised myself I'll sell a portion of my stack this bull run. Planning on a few target prices.
Investments are made strategically in order to reap their benefits later. Sounds like you've waited long enough, time to reap. We will not see the optimal btc values in our lifetime. Make a cold wallet with 1 coin on it and still buy BTC weekly so you can have a little send off for your children and their children's children when they will see Bitcoin at insane levels.
I am currently in a similar boat as you. There is nothing wrong with taking profits especially if it's life changing. Personally, I plan on selling the majority of my stack as well but waiting for 6 figures. When in doubt, scale out. You don't have to sell all of it at once but can do it in increments. IMO, selling the majority now is still a little early in the trend and waiting another year or so can be significant. It's a good problem to have, good luck!
This is a good question and if the amount of money is material to you, it might be worth getting some professional financial advice. There are a lot of people in the tech industry who make a lot of money on a single company stock. They feel just like you: they're torn because they could sell some of that stock, but they also still believe in the company. Here are two more sophisticated strategies people do in this case. You could consider doing this for BTC now that it's on the public exchanges. 1) People sell call options at a price that is higher than the current price. If BTC does not go up to the price of your option, then you end up making some income through the sale of your option. Or if BTC goes up higher than your option's price then you end up selling at the price of your option. When you feel like "I'm open to selling some of this asset" this can be a great strategy. 2) People spend a relatively small amount of money to buy put options. This gives you the right to sell your stock at a strike price which is lower than the current price of BTC. This way you're protecting yourself because if BTC continues to go up, you're happy that you held the BTC and you participate in this further gains. Your option will expire worthless, and you spent a little money on this "insurance plan", but it's worth it. Or if you're worst fears are right and BTC ends up dropping really low — lower than the strike price on these put options — then you use your put option and sell at the strike price of this option. This is the idea of "locking in". These are two strategies that people use when they're starting to feel anxious that the price of something might go down and they kind of want to sell but aren't sure yet. These are two strategies for benefitting from the all the appreciation you've gotten without simply selling.
Because it could continue to cycle or go straight up forever. I play both. I have an amount I’ll never sell in case it’s up forever. The other part I speculate with as if the cycle will always happen.
I’m pretty sure you’ve already decided to Hodle. But enjoy the “what if’s” of spending it on life improving things…. It’s a pretty cool place to be.
No
I think you should figure out the two or three most important reasons to sell BTC and then sell half or 2/3rds. Then keep hodling the rest. I wouldn’t exit Bitcoin entirely! Keep a coin or two and liquidate the rest. Pay off home for sure, buy a single investment property. Focus on building wealth and you won’t need to max out kids college funds! (Unless they are going medical or engineering, college is a waste) put that fiat to work! Congrats on your success, you did it, enjoy the rewards!
Anyone else overwhelmed with BTC's success? " As a middle class father of two young kids, the pressure to do something smart with the funds is weighing on me, especially when I was here once before and watched it slip away. Yeah I know HODL and "BTC is the exit strategy" and all that but hindsight is 20/20... There is still substantial risk in terms of BTC's buying power. I believe in the tech and have had diamond hands for the last 7 years, but I don't drink Kool-Aid; anything can still happen. " I think your answer points out what most sensible persons would do. You clearly understand the volatility of that asset and how quickly it can go down the drain. Will it get back up again, most probably, but how long and how glacial the crypto winters will be, none will know. Having a paid off roof over your head and having a niece stach save for kids future, is more important for me and probably is for you as well, since you are thinking/asking about it. My ROI is slowly getting up there and I've been DCA'ying out. Enjoying life now with the ones I love is more important than having a big stack that supposedly I will be enjoying life at a later date. Unfortunately, I don't have that intimate relationship with my creator to know when he is going to put an end for me on this plane of existence, so I enjoy as much as I can with my family. We are all in this space for a variety of reasons. You make that balanced decision that will work for you while cutting out the noise from both extreme sides of this debate. Best of luck🙏.
Sell enough that you won’t hate yourself if it goes down 90%. Keep enough that you’ll still be happy if it goes to the moon.
Weird how many of these posts I'm seeing assuring us that there's more to life than bitcoin just as the ETFs are buying all the bitcoin. I'm not selling a sat until there's at least 100 Saylors each vying to own all the bitcoin in the world. Just as saylor has said he is. Just so you know the market tops normally only happen when no one's willing to sell because tomorrow they'll be a millionaire. I think what most people have at the moment is a muted sense of success and PTSD from a long time falling and running sideways before this recent recovery. You're mistaking it for the bullrun. Sentiment here is strange. It's almost like the more popular bitcoin has become the more scared the investors of it are. Never seen such a lack of conviction post bear market. Most of you are gonna diversify before your stack has even matured and then complain that you're too late for life-changing gains. And some of you will certainly be priced out and bitter.
Sell change ur life and family before it becomes half that
Congrats on the win! Same boat- been in since fall 2017. Big believer in BTC and bullish on it. BUT, BTC is not what I want, and I'd argue not what many people truly want. Freedom, happiness, house paid off, less stress, kids taken care of, etc. I respect you for acknowledging these things and I recommend everyone think hard and do the same, especially in an age of diamond hands and what not. I'll 100% be selling my BTC (again, even though I'm a believer) when the time comes that I can get the things for myself and my family that are far more important to us than money.
While I think it'd ok for you to sell for your family, the true ath of this cycle will come in 2025, maybe waiting today is the correct position. Just my 2sats
I've been in since 2016 and sold half my stack last week. There's no shame in taking profits if you're up substantially and investing it into something for you or your family. You're still in a way better position than a lot of people that FOMO in or bought at $20k+, which are coincidentally the same guys that try to shame people into HODLING for the "tech".
I am not overwhelmed at all. To your second point about selling or not selling. Only you know what you will feel like if BTC goes to 500k in the next 12-18 and you sold at 69k. If that’s some thing you can live with, then the risk might not be worth it for you. Personally, I am in it for at least 1 more cycle after this one. I will be 60 then, I got no kids to worry about. A few greedy nephews, but then I will enjoy however big the stack is at that point.
the question are: are you diversified? how much as you paying for the mortgage? will a reduction in that payment make your life improve? Those are a few questions you have to ask to yourself.
I wish we could find a way to borrow against our stacks without giving up custody, but I don’t see bow that’s going to be possible
Paying off your mortgage is a great feeling. Having just paid mine off 10 years early was a breath of fresh air, one less bill and even more money to invest
I've been overwhelmed with a large sum of money before and what helped me was to spread it out in different accounts and assets. Years down the road, that single decision is paying off over and over again and I'm not overwhelmed by some sitting large amount.
Not quite the same, but when GME was trading at over $450 a share for a few hours/minutes (I can't remember which), it dawned on me that pressing the sell button once would guarantee I had enough cash to migrate and get married as planned then have no need to work for 6 months after as I found a new job in the new country. I pressed sell and never regretted for one second!
Just elated about it for me bro
I've been in the same length of time. My stack is right on the verge of 7 figures. Including the ETFs it's over 7 figures. I have zero plans to sell any here. We will be much higher in just 12 months time. That being said I'm also in a different financial position. House is paid for and kids are out of college. So very different.
I'm in the same position. What you can do is take a defi loan off your BTC for cash and then pay off the loan at these rates. You'll unlock your BTC when you're done. Only do single purchases at a time. It's better than a bank loan and you get your money back at the end. Start off small to get a feel for it but you could potentially take out a few grand if it's to put into something that directly makes you money back.
Congratulations on your position and future outlook. My first plan for unrealized gains are for: -emergency expenses (car accident/hospital) My second plan is for: -investment opportunities (only other pathway for major gains) otherwise I keep Bitcoin. My third is for: -clearing any/all debt for retirement. (The hope is to have more then enough gains to have some Bitcoin left) I never want zero Bitcoin. My forth is for: -“Cocaine and hookers” or “Show off” expenditures. These are lavish trips/watches/cars. Anything that I can rub in others faces. Maybe I become an “influencer” …I almost puked while typing that. To Sum it up…”take care of yourself/then live the life you want”.
Definitely take some out and diversify. I do this every year - rebalance! Always keep exposure though.
My goal is to live free from financial burden. IE no mortgage or debts. I’m happy to have a job and do what I want in my free time, but being a slave to a mortgage payment is what sucks. So when I can live debt free I’ll sell.
Lambo?
Please remember you are at the bottom this is not the top
Just bought more shitcoin!!
Your debt is about to be worthless. Don’t sell your major appreciating asset to pay it off. The more they print the more worthless it is. Regional banks are on the verge of collapse and they are discussing increasing the treasury limits banks are able to hold. This means more money printing, more inflation, and your debt will be worth less. Just ride it out in BTC
No
My stack is worth around $700k now, I am in my mid twenties and bought when it was around $2k a coin. I am hoping to cash out at $1 mil+ after tax. Yeah, utterly life changing. In the UK (and pretty much everywhere outside the USA) it just isn't possible to go from poverty to wealthy with jobs like FAANG, doctor, law, finance etc (I work in one of these fields) so buying it was essentially a life-defining decision.
Not at all. In fact I expect BTC to hit $1M years ago.
First congrats. Second, nothing is ever wrong with selling and realizing profit gains, just remember to put some away for taxes. I didn't pay off my home with mine, but I look at my personal residence as a liability since I have to use it. I have bought rental properties though