Another month goes by mining fiat at the office. Another salary hits the bank account. Another Bitcoin purchase increasing the total stack. Last month of the year 21. Last stacking of the year 21. The price for December was 50410€ / BTC and my usual purchase of 500 euro bucks got me another ~0.01 BTC added to the stack that stands at roughly 3.995 BTC atm. Next year shall start with finally getting that full coin number four then.
The year has been unlike expected. It started with a bam with Bitcoin hitting 60k already in March for the first time. But ever since, price wise no progress and here in December we are currently below 60k again. I was definitely too bullish, thinking we would be way into the six figures already by now. Then again, I also thought that after peaking late 21 we would be up for a ‘normal’ (long) bear market in 2022. But as always, Bitcoin does something you don’t expect.
Hodlers unaffected.
I don’t really care how Bitcoin progresses during the next few years. I know where it’s heading and I know what I wanna be a part of. If it takes a little longer – good I get more time to stack them sats (and so do you). If it gets there faster – also good, can’t really complain when the price rises and you’re already 100% in. Nevertheless, everybody is thinking and speculating how the future is gonna look like. Currently imo it seems we are hovering on a launching pad and next year is definitely *not* gonna be a bear market but a major bull play that will lead to the six figures and above, finally.
In a way it’s weird that the world is much more fucked up than I would have guessed a year ago: More nazis and more clown world mental gymnastics everywhere I look. And STILL Bitcoin is chilling with a relatively modest price. Not what I would have expected. Let’s look at some charts:
The orange line is my Bitcoin stack, next update shall break the resistance level of 4 coins. The green line is the corresponding fiat value (in euros). Still above 200k at the time of stacking (not anymore at the time of writing =D). The dashed black line is the total amount of money put in, roughly 28k€. The year 2021 gave me my first six figures net worth and also doubled it from 100k to 200k. Can’t be disappointed despite the most recent dip. Eager to see how this chart develops in 2022.
The bars represent every Bitcoin purchase I’ve ever made. Starting from October 2017, once per month, 51 in total. As you can see, the historical purchases have given nice profits (obviously) but most of the purchases this year are currently in a modest gain status (<100%). Bear in mind that also the beginning of this chart has looked like 2021 currently looks like. Everything is modest until it’s not. Bitcoin investing is a game of endurance. If you commit, you will succeed. Bitcoin investing is *not* a game of genius bottom buys and smart top selling.
The last chart is my evaluation of Bitcoin as a saving technology. I cannot just look at the gains and feel good without having a reference to compare it to. The reference here (blue line) is the default savings strategy of putting it all into S&P500. Over similar time period if I would’ve put similar money into S&P every month, I would’ve made ~50% gain for the total amount of money put in. Whereas my Bitcoin savings strategy has given me more than 600% gains for the total amount of money put in. It’s not even a competition. All you need to do is have some balls to handle the downturns (like the one right now).
In the end, you wouldn’t even want it to be easy. This is the reason why most of your friends never get into Bitcoin. They are scared. You are not. You deserve your gains.
-ERB
Twitter: @RetireEarlyBTC
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