05 Feb I’m ditching my non interest bearing savings account for Bitcoin – I’m all in. 1-year experiment.
I’ve read up as much as I can about BTC, and have read ‘The Bitcoin Standard’ amongst others. The macro-economic climate we are living in is unprecedented with the lowest interest rates we have seen in years and the endless supply of helicopter money.
I’ve have struggled to save money in past, and now I understand why. Since December I’ve been saving in BTC instead of cash, whilst maintaining a small emergency fund in cash. Saving has never been easier. I don’t have any urges to spend money, in hindsight can be explained by the fact that I don’t want to let go of any of my precious sats. It’s obvious to me that Bitcoin is the hardest money invented. I want to save in a money (or asset) that is deflationary rather than the continually debased fiat our federal reserve prints. I can’t compete saving just dollars in a zero interest bearing bank account.
I’m at the stage of life that I’m earning a decent living (not earning mega bucks by any stretch of the imagination), but can save around $1,000USD/month.
My goal is not a lambo, or any other silly luxury, but is to have financial independence. One of my medium to long term goals is to be able to secure a future for myself, be able to live in a modest but comfortable home. I want to be able to put a decent deposit on a home in 4 years’ time.
I’m recently debt free (followed Dave Ramsey’s plan to obliterate my student loan debt), and now, it’s time to build my life financially.
So, for one year, I am going to continue this experiment. Every dollar allocated in savings is going into Bitcoin. It may continue for many more years. But for now, New Year’s Day – 2022, I will update you all with my progress.
See you next year 😁