crypto currency

[james.hendrickson]

Its amazing QMM, bitcoin broke 100,000 today. I wish I'd bought more.

[QuarterMillionMan]

When El Salvador adopted bitcoin a few years ago I thought they were crazy. Today I now think they are smart. I need to set up recurring buys of about $500 - $1000 every month or more.

[james.hendrickson]

When El Salvador adopted bitcoin a few years ago I thought they were crazy. Today I now think they are smart. I need to set up recurring buys of about $500 - $1000 every month or more.

Does dollar cost averaging even work with crypto markets? I know it was developed for the stock market, but I just don't know if it applies or not.

[QuarterMillionMan]

Proverbs 23:23 says, "Buy the truth, and do not sell it”

[QuarterMillionMan]

I’ll DCA bitcoin even if it means buying the top at every buy.

[james.hendrickson]

I’ll DCA bitcoin even if it means buying the top at every buy.

I like the reference to proverbs 23:23, and looked it up, but it wasn't clear what the applicability was to dollar cost averaging in this context. Can you unpack that please?

[QuarterMillionMan]

DCA was a separate post to the Proverbs post. But in regards to the truth bitcoin like gold and is the truth. Fiat money is toilet paper.

[QuarterMillionMan]

Last night I fell for the herd mentality syndrome and bought at the height when bitcoin was $103,000 thinking it would rocket to maybe $110,000 or $120,000 which was only a head-fake. Today it dropped back to $97,000. Oh well, cannot cry over spilled milk and sometimes you win some, sometimes you lose some.

[QuarterMillionMan]

Opened a bitcoin roth IRA for 2025 w/a max contribution of $8000 and bought BTC w/a spot price at about $97,000. Also, liquidated all of my stocks in another roth IRA account and in the process of transferring the funds of $52,000 into this bitcoin roth IRA. Hoping to buy more BTC before big governments add it to their strategic reserves and drive up the price.

[myrdale]

Opened a bitcoin roth IRA for 2025 w/a max contribution of $8000 and bought BTC w/a spot price at about $97,000. Also, liquidated all of my stocks in another roth IRA account and in the process of transferring the funds of $52,000 into this bitcoin roth IRA. Hoping to buy more BTC before big governments add it to their strategic reserves and drive up the price.

I hope this works out well for you.

I had heard of BitCoin early on when it was <$5 per (actually around $1). I didn't think it was anything more than a novelty at the time. In retrospect I could be a retired multimillionaire had I jumped on it then. Some 12 or 15 years later I still don't feel any different. I'll feel silly when it's $1M per coin, but I still think at some point the ball has to drop and a substantial amount of wealth will evaporate into thin air.

[QuarterMillionMan]

I've been buying bitcoin at a spot price of $9000 (ie, $1000 worth + or - at a time). I have 5 different accounts (ie, Ledger, Coinbase, Robinhood, Coinbase wallet, Bit Stamp). I had Trade Station roth IRA but they abruptly discontinued cryptos and only deal with equities now. In the 5 accounts above I own about 1 BTC pooled all together. My capital investment is about $45,000, so I'm currently sitting on about $50,000 in profit (unrealized gain).

[QuarterMillionMan]

60/40 was your grand-father's investment strategy. Today I feel it's 60/20/20 w/cryptos being that last 20% (including precious metals). I'm moving towards 60/40 (in cryptos & precious metals, no bonds) but it is risky.

[james.hendrickson]

60/40 was your grand-father's investment strategy. Today I feel it's 60/20/20 w/cryptos being that last 20% (including precious metals). I'm moving towards 60/40 (in cryptos & precious metals, no bonds) but it is risky.

Why no bonds? They're an investment vehicle that's at least 2,000 years old.

[QuarterMillionMan]

Bonds seems to be over-run by inflation these days. But if bonds works for you more power to you.

[EasyMoney00]

Has anyone ever held a bitcoin in their hand? I'll leave it at that.

Anyone invest in the hawk tuah crypto? That worked out well for everyone.