FOMO: Should you invest in Bitcoin, when, and how?
1110
post-template-default,single,single-post,postid-1110,single-format-standard,bridge-core-2.3.7,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-content-sidebar-responsive,qode-theme-ver-22.3,qode-theme-bridge,disabled_footer_bottom,qode_header_in_grid,wpb-js-composer js-comp-ver-6.2.0,vc_responsive,elementor-default,elementor-kit-199

FOMO: Should you invest in Bitcoin, when, and how?

FOMO: Should you invest in Bitcoin, when, and how?

Hello /r/Bitcoin community,

I’m someone who’s involved in the financial independence community and we usually push hard for people to play it safe and consistent by investing into index funds, and allow time to work its magic.

I’m no different and the majority of my advice to others follows that train of thought; I believe in it strongly and it is an approach that has worked well for me over time. However, I’ve also been putting some portion of my investment into Bitcoin (for years) and have proudly hodl’d all this time, and will keep hodl’ing for many years to come.

Due to this, I decided to write up a short introductory article for anyone in the FI community who might be interested in getting into Bitcoin and to give them some guidance on how to think about their approach.

Let’s face it, none of us here really know what’s going to happen with the price tomorrow. At this moment in time the price has risen $600 since I published my article and by the time I actually post this thread, it might be back down again. Who knows!

But there’s one thing that I grow more confident in as time goes by – and that is that the argument for Bitcoin as a viable asset to be held in an investment portfolio becomes stronger as more and more credible organisations and high net worth individuals get involved. I myself am not super smart, but I know that the likes of Michael J. Saylor and Jack Dorsey aren’t going to blindly put their money into something that they don’t believe has potential in the future – not without some proper research into it at least.

In essence, as the case for Bitcoin grows it becomes more and more important (in my opinion) to have some portion of one’s investment portfolio in it – as though it’s another asset class that you should have some level of exposure to. Nobody bats an eye when someone mentions diversification into different assets such as stocks, bonds, real estate etc, even if they might have some opinion for or against it – it’s only when you mention Bitcoin that someone may suddenly flip a switch and think you’ve lost the plot. Perhaps in the past it was easier to see that side of the argument because it was a “new and unknown” thing, but time is moving forward and so is adoption which makes me feel that this is something you don’t want to sit out of.

But that being said – Bitcoin is definitely exceptionally volatile and high risk, and I know that everybody here knows that. So my belief is that getting into Bitcoin isn’t a matter of “when” in terms of “what price is good to buy”, but is actually a “when” in terms of “have you set yourself up for success”.

I think by taking this approach, where you are able to understand that Bitcoin is a risky asset with massive potential and have your ducks lined up to weather any type of storm, a normal person who might’ve thought of Bitcoin as “poison” based on the negative opinions of others can actually give themselves a chance to benefit from this phenomenon.

Ok so why am I here and why am I preaching to the converted?

Well, I’d like to share the link to my article “FOMO: Should you invest in Bitcoin, when, and how?” – I read the rules of the subreddit and I didn’t see anything against this so I hope this is welcome, but apologies in advance to the mods if this is a no-no.

The contents of the article are what I already wrote in this post but in more detail – you won’t miss out on much if you don’t click in but I’m hoping to get some feedback and support from this community and more importantly I’d like to find out if my way of seeing Bitcoin resonates with you all.

If you’ve a few moments and would like a break from all the “to the moon!” posts, please give it a chance and if you find it interesting then there’s no harm in sharing it forward with some others who might find it helpful to see Bitcoin from the perspective of someone who advocates investing steadily and safely.

Cheers all!

submitted by /u/kujahjh
[link] [comments]

No Comments

Post A Comment