Another month grinding the fiat job, another salary hitting the bank account, another chance to stack some sats! We go ‘all in’ again and buy whatever we can (In my mind I’m going all in once per month instead DCAing on a monthly basis). In my case it means I put 500€ aside, squander it at Bitcoin, and live the rest of the month with whatever is left. The price I got for my purchase was ~40400 € / BTC which means I got ~0.012 BTC added to the stack that stands at ~3.96 BTC today.
A LOT going on in the BTC world. Last month I thought the dip was over and we would continue with the autumn bull. Well, I still do but we’re not quite lifting off atm. Instead, we got a dip after a dip after a dip. China doing this and that, with a reflection on the short term BTC price.
Hodlers unaffected, traders rekt.
Bitcoin holding is the marshmallow test for adults. The natural (instant gratification) instinct is to eat the marshmallow and trade the BTC. But if you eat it, you have no marshmallow left and if you trade it you have no BTC left. Try to resist the first few urges. You won’t even think about it in no time.
Strike & Twitter joining forces to implement Bitcoin. Seems like a big deal. Bitcoin is the kind of thing that won’t go away and will only grow (not talking about price now). Day after day, year after year. Bitcoin adoption will only grow. Must be hell to be a Bitcoin skeptic and watch things play out. Serves them right, though. Let’s look at some charts:
The orange line is my BTC stack, the green line is the corresponding worth in eurozone fiat, the dashed black line is the total amount of money put in. Time of data is the beginning of every month which is the time I make my purchases. Looking forward to breaking that 4 full coins & 200k eurofiat line, which will come first is the only question.
Here’s a bar chart representing every Bitcoin purchase I’ve ever made. Once per month, 48 in total. Next month marks the 4 year anniversary of my first Bitcoin purchase. Four long years that have changed me as a human, for the better. Very grateful for Bitcoin, grateful for bitcoiners. Someone asked how I’m gonna pay taxes when I eventually sell some coins. I think it’s going to be FIFO (first in first out) and this data will make it easy.
Here’s the performance of my Bitcoin savings strategy vs. a standard (and poor) savings strategy of putting it all into S&P500. Bitcoin has given me a 500% profit for the money put in whereas S&P would’ve given me 50% profit for the money put in during these 4 years. People say you should put 5-10% of your savings into Bitcoin. Start small and all. I get it. Kinda. But the more you know, the more it seems dumb to restrict your exposure. I’d say go 100% all in. If it feels risky, you need to read some books about Bitcoin and try to understand what we are dealing with.
Small exposure means you don’t really understand Bitcoin.
You may not like it, or agree with me, but that’s the way it is.
-Bitster
Twitter: @BitsterStacker
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