Dollar Cost Averaging into Crypto
I have been throwing money into Bitcoin and Ethereum every week for the last year. After exactly one year, I get to brag about a measly 4% return on investment. Despite this poor performance, I am still optimistic about cryptocurrency’s future.
Michael Saylor bought more Bitcoin through the investment fund he manages. He’s been a major player in the cryptocurrency space. This guy knows what’s up. He sees something most financial experts do not. He lets actions (increasing Bitcoin count) speak for himself. It’s one thing to promote something with words. It’s quite astonishing to see someone do so by going all in with their (and their investors’) money.
Even if things continue to go south, the loss is not going to damage me. I am pursuing financial indestructibility. One of the axioms I subscribe to is “get rich slowly”. This has been the reason many successful people continue to stay successful.
The market is down as of this writing. The benefit of the bear market is that assets are on a fire sale. This is only an upside if one believes in crypto’s future prospects. I started paying attention to Bitcoin in 2016. Critics have always discussed what they believed to be existential threats to Bitcoin. Yet, here we are five years later and Bitcoin can’t seem to come down below $45,000.
I’ve concluded that Bitcoin is here to stay no matter what the critics say. I don’t want to miss out on this like I did in the dark years of Bitcoin in 2018 when its value tanked 82%. Do your future self a favor. Start accumulating Bitcoin right now. Do this over time in a consistent manner. Your future self will thank you. (Hoping this post ages well).
Disclaimer: This is not financial advice. Do your own research and make your own decisions. This is simply commentary on the author’s experiences.