Another month passes by at the fiat mine, another salary hits the fiat bank account, another bitcoin purchase added to the stack! As per usual I hit a market buy with 500€ and this time I got a price of ~41930 €/BTC which gives me around 0.012 BTC and brings the total stack to ~4.04 BTC. Volume 21 today, and there’s the worlds biggest Bitcoin Conference in Miami right now. Coincidence?
Price is doing the same kinda sideways stuff that’s been going on for the past year, more or less. Every now and then it feels like we are ‘breaking out’ only to get a big dump / dip straight away. Seems like the world is catching up to Bitcoin far more slowly than I would have expected. Well, us long term stackers are grateful for the opportunity to keep stacking at ‘low’ prices. Feels funny to call 40k a low price but that’s how it feels. My nocoiner (precoiner) friends would probably disagree. For them bitcoin is always too expensive (not gonna buy, maybe if it was cheaper) or crashing (not gonna buy, the bubble has burst). No idea how long it’s gonna last, talking about the sideways market, but it’s bitcoin we are talking about so probably its gonna sleep long enough to bore everyone and wait for it to be declared tamed.
And then pump like hell.
Bitcoin has a way of messing up peoples trades, models & theories. If there’s one thing we can be sure of bitcoin doing it’s: the unexpected.
The orange line is my BTC stack, slightly over 4 full coins. The green line is the corresponding fiat net worth in euros, 170k€ atm. The dashed line is the amount of fiat put in, around 30k€ over 4.5 years. Interested to see if the bounce on my green line is gonna continue towards 200k and beyond. For anybody relatively new on their stacking journey: take a look at the green line for the first 2 years. First year, I have absolutely no gains to show of my continuous monthly stacking. The second year is starting to see some gains but I’m quickly dragged back to square one regarding gains. Then, all of a sudden, I’m being lifted to another level. Your gains are not gonna be linear. Patience.
The bars represent every bitcoin purchase I’ve ever made, once per month, starting from October 2017, 55 in total. The height represents the gains-% that the particular purchase gives me with the current price. For example, the highest bar (~1300%) is from February 2019 when I bought with a price of below 3k€. It’s a nice way to visualise the gains and understand that the most recent history is always kinda flat. You need months and months under your belt and at some point the earliest purchases are gonna weight a lot in your stack.
The orange line is the performance my bitcoin savings strategy has given me for the money put in. The blue line is the reference performance, the S&P500, which is used by most people for passive investing. Before Bitcoin came around, the S&P was probably the best fool proof strategy. But now it’s only a fools strategy and Bitcoin wins, hands down. For all the money I’ve chipped in to Bitcoin (including this months purchase) I currently have a ~470% return. If I would have chosen S&P as my vehicle my return would be only 44%. That’s a 10x, and it’s going to be a 100x.
That’s all for now! One quarter down, three to go. Let’s see if we can get a six figure bitcoin in 2022. While waiting, keep on stacking! See ya next month.
Affiliate links:
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Blockclock, backup seed plates, Coldcard, etc quality Bitcoin gear: Coinkite
Ps. I gave an interview recently and if you wanna know more about my background or how the blog started, you might find it interesting. Check it out here: Cryptofireside
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