Whooh! Another month, another salary, another Bitcoin purchase! Price paid was 38440 € / BTC which means I got ~0.013 BTC added to the stack that stands approximately 3.88 BTC today. Feb close for Bitcoin was another ATH so naturally this latest purchase was the highest price I’ve ever paid for Bitcoin. That’s five in a row now – monthly closes and buying the tops.
February saw a nice hike in the price following the Tesla announcement. Also a hefty correction after the pump. January was similar so maybe we’ll get a pump & a dip every month throughout the year! =D I could live with that. Though it’s already mid-March so better get busy Bitcoin if it’s to be continued like this.
Last month also saw a new indicator emerge in my personal life. A good friend contacted me about Bitcoin! That was a first. I have talked to several friends about Bitcoin throughout the years, one of them actually bought at the bear market bottom in 2018, and is now a hodler. I’m very proud of that fella, though every now and then he’s still asking ‘when do we sell?’ and thinks I’m kidding with answer ‘never’. But this was the first time a friend wants me to tell how to buy Bitcoin in a bullmarket. Some might say its a classic top indicator, and I would agree if we were talking about anything else than Bitcoin. There simply is no top and traders will get rekt (always and this time especially). So whatever ‘top indicator’ you see during the year – ignore. Focus on stacking and focus on holding. Holding is *not* easy. You do not want to switch to fiat with the intention to ‘buy back lower’ and watch Bitcoin melt some faces with a gigantic pump. But yeah, this was a new experience – a friend getting interested. Eagerly waiting for the next one and already guessing who it will be. Let’s look at some charts:
The orange line is my BTC stack, getting that 4th full coin is gonna get hard AF. The green line is the corresponding net worth measured in eurozone fiat. The chart is actually outdated with the early month prices (purchase price), with the current price I’m already close to 200k. It’s kinda wild this price action doesn’t spark too much emotions. That is because I’ve been waiting for this for 3+ years. It’s has all been expected and now that it’s actually happening it’s nothing new for my brain. Eagerly waiting for the state of bull market when my cool starts to wear off.
The bars represent every Bitcoin purchase I’ve made so far, 43 in total. Obviously on profit with every single purchase, the best ones in early 2019 have recorded +1000% gains. On average, I’ve made +500% with every purchase. It’s a nice visualisation and motivation for future stacking. Don’t you dare stop stacking. There’s always another 10x to be made! Only a matter of time 😉
The orange line is the performance of my BTC savings strategy. The blue line is the corresponding performance of an S&P500 savings strategy with identical input money. Bitcoin strategy at 500%+ gains vs. S&P hardly over 30% for the total money put in over 3+ years. Bitcoin has been more than 10x better as a savings technology and the bull market is just getting warm. It must feel like shit to hold majority of your money in S&P while watching Bitcoin go crazy and not understanding how it’s possible, not expecting it’s gonna continue. Do your research and get off zero!
I’ve been comparing the performance of GBTC and MSTR after MicroStrategy announced their first Bitcoin purchase. The above chart is maintained manually and missing a shitload of data points but paints an interesting overall picture nevertheless. There were times when MSTR was lagging the Bitcoin (or GBTC) performance. In early February, MSTR was significantly over performing GBTC, lately cooling off a bit, still ahead. Interesting to see how the relation is gonna develop over the year with the moves Saylor keeps making, and the Bitcoin ETFs that are coming available.
Gonna leave you with a thought (most likely not original but something i though of today):
With a rising Bitcoin price, more and more people will become free – of their daily jobs, of their crazy government bureaucrats. Eventually the Bitcoin price will hit 100k and we’ll have a certain number of free men thanks to Bitcoin. Then 1 mil and a bigger number of free individuals. Then 10 mil and so on and so on. I foresee a ‘Bitcoin nation’ that will consist of millions of people that are among some of the best human race has to offer. It will be a nation on web. The population only goes up (PgU technology). The more people ‘Bitcoin nation’ has – the better off the world will be. I’m gonna call this ‘the promised land’ and eventually every human on earth will be a member. What a time to be alive.
-B
Twitter: @BitsterStacker
Great post as usual, can you do one on how you make these charts? they are excellent!