Stacking ’em Volume 34 (August 2023)

Summers up! At least the vacation part, and so yours truly gets back to routine life which means also the updating of this blog. Though there was a break from writing, there was (of course) no break from stacking! The most recent purchase from August came with a price of ~29600 € / BTC and the total stack stands at roughly 4.39 BTC today.

Seems like there’s been a lot of things happening recently (ETFs and the SEC clampdowns) coinciding with nothing happening to the 30k stable coin price. During bear markets the price will dump with even the most bullish news, and during the bull market the price will keep pumping no matter how bearing news you get. Now we are in a situation where no amount of bearish nor bullish news will have any effect on the price. So I would say we are in the perfect middle point, definitely out of the bear market but not yet entered the bull market. Heavy accumulation zone as Tuur Demeester might say. Perfect for us constastackers. Let’s take a look at the charts:

The orange line is my ever increasing bitcoin stack (left axis), slowly but surely approaching the next milestone of 4.5 coins. The green line is the corresponding fiat net worth (right axis), climbing out of the most recent bear market bottom and comfortably above 100k now. The black dashed line is the total amount of fiat put it (right axis), ~38k euros already. Average price for coin has been ~8700€ during the 6 year period.

The bars represent every bitcoin purchase I’ve ever made, once per month starting from October 2017, 71 in total. The best purchases from the 2018-2019 bear market are currently up 900% while the worst buys from the recent bulltop are down -45%. Bitcoin is often described as an asymmetric bet where the upside potential dwarfs the downside risk, this chart visualises that relationship pretty well. However, it’s been a long 2.5 years with no gains to show and I feel for you all who have started to stack exactly 2.5 years ago. It sucks! But it’s a Bitcoin rite of passage that everyone just needs to go through.

Here I’m comparing my bitcoin savings strategy to the standard (and poor) savings strategy of putting it all into S&P500 instead. In other words, If I had been a total boomer with similar savings schedule, I would have made a whopping 39% for my money after sticking to a savings plan for nearly 6 years. But as an autistic bitcoin bro, my savings vehicle has delivered +240% instead. Cheat codes have been found, they are just not evenly distributed.

That’s all for now! Let’s enjoy the sideways market as long as it will accompany us. Though we can’t wait to shoot higher, we all know we are gonna miss these prices. Seize the day, stack the sat!

@BRetirementPlan


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