‘My retirement is completely in bitcoin’: Why don’t more people do what I do?

I’ve managed to get 1 bitcoin. I’m a 51-year-old azygous woman, and I’m a afloat signed-up bitcoin follower. Given the volatility, I don’t privation to currency it in, arsenic I don’t deliberation the crypto marketplace is “bubblish.” When I archetypal bought bitcoin it was $48,000, and past it fell to $16,000. I bought it astatine the incorrect time, but anyone who has ridden the tempest erstwhile isn’t disquieted astir this downturn, and they’re buying furiously. My car is simply a portion of s—, but there’s nary mode I’m spending immoderate wealth connected thing different than bitcoin.

With bitcoin, determination is simply a constricted proviso and it’s not tally by 1 enactment oregon 1 person. A large driblet happens each mates of years, and it’s usually what happens earlier a immense pump. The statement among immoderate observers is that there’ll beryllium a immense pump astatine the extremity of the twelvemonth to $200,000. You’ve had banks and federation states buying into bitcoin and exchange-traded funds. I’m not a fiscal whiz kid, but investors are trying to bring the terms down truthful they tin bargain arsenic overmuch arsenic possible, trying to scare the weaker hands.

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My status is wholly successful bitcoin. That is, I invested successful Strategy, a bitcoin treasury company. That’s due to the fact that of my religion successful Strategy CEO Michael Saylor. Strategy buys bitcoin and sells shares of the company. I’m not a spot worried, and I would suffer tons of wealth if I sold today. When I bought bitcoin successful 2021, I didn’t afloat recognize it. But I bash cognize it’s not thing that should not beryllium traded. Once you recognize that, you bargain and you hold. If I had money, I’d bargain the dip.

I besides get against bitcoin. Firefish, a noncustodial peer-to-peer lending platform, puts your bitcoin BTCUSD into escrow. With Firefish, bitcoin borrowers fastener their bitcoin arsenic collateral successful wallets, portion investors money these loans for yield. This is each governed by codification for security, and it avoids cardinal custodians. I use for a loan, fastener successful my bitcoin successful an on-chain escrow, and person funds. Why don’t much radical bash what I’m doing? What’s the catch? I don’t spot one.

50-Something Bitcoin Fan

Related: Bitcoin isn’t dormant — it’s having an IPO moment. Here’s erstwhile the selling volition stop.

Diversity is your friend, my friend.

The drawback is not whether bitcoin volition emergence oregon fall. The drawback is that 100% of your status is successful bitcoin. Your status is concentrated successful a single, highly volatile plus and successful 1 institution whose concern exemplary is tied to that asset. A constricted proviso does not warrant an inexorable rise. Whether you’re each successful Nvidia NVDA, similar this capitalist who bought the banal earlier the artificial-intelligence roar due to the fact that helium liked the company’s videogame chips, oregon Palantir PLTR, similar this retired couple, the hazard of volatility and liquidity issues are high.