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Treat Bitcoin As A Tool, Not A Cult

by Catatonic Times
January 19, 2025
in Bitcoin
Reading Time: 2 mins read
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Comply with Frank on X.

I used to be not too long ago a visitor on the Mr. M podcast, the place the host, Maurizio (Mr. M), and I mentioned most of the realities of investing in bitcoin that always aren’t mentioned with sufficient nuance.

For context, Maurizio invited me onto the present as a result of he wished to debate a Take I wrote final week entitled “Don’t Purchase The Bitcoin Dip,” by which I shared that we’ve already been in a bitcoin bull marketplace for over two years and that now seemingly isn’t the very best time to make sizable bitcoin purchases. (Please observe that, within the article, I didn’t encourage anybody to promote their bitcoin, nor did I counsel that they cease dollar-cost averaging into the asset.)

We mentioned the piece and likewise touched on another dynamics concerned with investing in bitcoin that don’t usually get introduced up. So, I figured I’d share some bullet factors from the dialog right here as a teaser for the episode.

When investing in bitcoin, you’ll be able to:

Promote some for those who want some money, and it’s higher to do that whereas bitcoin’s value is highNot go all in on bitcoin; having a money buffer could be psychologically useful, as bitcoin is a risky assetConsider timing when making bigger bitcoin purchases; bitcoin’s value goes by means of growth and bust cycles, and it’s finest to purchase throughout bear markets

I share these factors as a result of, oftentimes, louder voices within the Bitcoin house broadcast messages like “Purchase the dip” or “By no means promoting!” (my favourite instance of that is the episode of What Bitcoin Did entitled “Purchase the Fucking Dip” that was printed on the close to the tippy prime of the 2021 bull market), prompting these new to the house or who would possibly profit from promoting or spending some bitcoin throughout a bull market to not.

Had I not offered some bitcoin through the latter a part of the earlier bull run, I wouldn’t have had the money buffer that made it simpler for me to give up my earlier job, which was making me depressing, in order that I had some monetary respiration room whereas searching for work within the Bitcoin house. And right here I’m now, writing articles for Bitcoin Journal for a dwelling partially as a result of I offered a few of my bitcoin.

So, please perceive that Bitcoin is a software that can be utilized in many alternative methods. Study your life circumstances, and assume for your self in the case of the way to use your bitcoin. Don’t simply hearken to the religious HODLers who could make you are feeling like much less of a Bitcoiner for doing what’s finest for you.

This text is a Take. Opinions expressed are solely the creator’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.



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