Depends on your situation tbh. If that’s your emergency fund or money you might need soon, then no. BTC can randomly dump 30-50% and psychologically most people are not ready for that.
But if it’s long-term capital and you actually understand what you own, then honestly a lot of people would rather hold BTC than slowly bleed purchasing power in a savings account.
SyZyGy_87 on
I’m all Bitcoin. Can’t recommend it enough
But putting 30,000 eggs in ONE basket…
Investing 101;
#1 – never put all your eggs in one fuggin basket
Have a good day
Good luck
stinabug on
If you already have a separate emergency fund savings established, and are ok with the possibility of losing $30K for the reward of making double, triple, or even more, then yes absolutely.
Tommorox2345 on
I did that with the current dip. So far I am yet to break even but I’m close. Lost a decent amount trying to day trade. It’s definitely not a safe investment but it’s not ALL my money and it’s not something I will need for roughly the next year so it’s worth a shot
derbyfan1 on
I would always recommend diversifying. And the best diversification strategy is; 50% in Bitcoin and the remaining 50% in Bitcoin. You cant go wrong that way.
66NickS on
Can you afford to watch that investment get cut in half or worse in the next few years? If no, then (despite what any pro-BTC person says) you likely need to diversify.
There’s a decent chance that BTC continues going up and to the right, and that’s what many buyers and traders are expecting, but it’s not a guarantee. It is still speculative.
I say this while still actively owning and buying BTC, so I’m a believer. But I also buy traditional equities and spread the risk around a bit.
If you anticipate needing that money in the next 6-12 months, it’s safer in a HYSA. If you can wait it out for over a year, then you can start putting it in the market.
KingPabloo on
Absolutely not. If you are just starting a volatile high risk investment is not where you should stick your money. If you won’t need it for awhile then an index fund is where to start. If you need it soon, then a safe high yield savings account. Honestly crypto should be one of the last pieces of your portfolio, a speculative piece, and a small percentage.
CapitalIncome845 on
Can you throw 30k at something, and stick with it for 10 years, if it goes up, if it goes down? You need a long term perspective and cohones of steel.
9 Comments
No.
Depends on your situation tbh. If that’s your emergency fund or money you might need soon, then no. BTC can randomly dump 30-50% and psychologically most people are not ready for that.
But if it’s long-term capital and you actually understand what you own, then honestly a lot of people would rather hold BTC than slowly bleed purchasing power in a savings account.
I’m all Bitcoin. Can’t recommend it enough
But putting 30,000 eggs in ONE basket…
Investing 101;
#1 – never put all your eggs in one fuggin basket
Have a good day
Good luck
If you already have a separate emergency fund savings established, and are ok with the possibility of losing $30K for the reward of making double, triple, or even more, then yes absolutely.
I did that with the current dip. So far I am yet to break even but I’m close. Lost a decent amount trying to day trade. It’s definitely not a safe investment but it’s not ALL my money and it’s not something I will need for roughly the next year so it’s worth a shot
I would always recommend diversifying. And the best diversification strategy is; 50% in Bitcoin and the remaining 50% in Bitcoin. You cant go wrong that way.
Can you afford to watch that investment get cut in half or worse in the next few years? If no, then (despite what any pro-BTC person says) you likely need to diversify.
There’s a decent chance that BTC continues going up and to the right, and that’s what many buyers and traders are expecting, but it’s not a guarantee. It is still speculative.
I say this while still actively owning and buying BTC, so I’m a believer. But I also buy traditional equities and spread the risk around a bit.
If you anticipate needing that money in the next 6-12 months, it’s safer in a HYSA. If you can wait it out for over a year, then you can start putting it in the market.
Absolutely not. If you are just starting a volatile high risk investment is not where you should stick your money. If you won’t need it for awhile then an index fund is where to start. If you need it soon, then a safe high yield savings account. Honestly crypto should be one of the last pieces of your portfolio, a speculative piece, and a small percentage.
Can you throw 30k at something, and stick with it for 10 years, if it goes up, if it goes down? You need a long term perspective and cohones of steel.