I am a simple minded guy. One that will never be a master of trading stocks, or presenting in depth data analytics around my investment decisions.
I am just not wired that way. I more so cling to the mindset of listening to what smarter and more influential people are saying, and trying to integrate little pieces of what I hear into my personal drive and skill set.
I took an interest in Bitcoin about 5 months ago when it was around $2,500 per coin but didn’t actually click “buy” until a single coin had shot up to $4,700.
My original plan was to set aside some savings and let it play out over the years as it continues its growth. Simple strategy…just hold on and enjoy the ride.
It would have been nice to have a solid 4 bitcoin right about now, but by time my Coinbase account charged my bank account I only was able to buy a little over 2 of them, but not bad as it almost tripled within 3 months. Currently I have doubled my investment and then some, so a win no doubt.
The point is I was able to get “in” at what appears to be a great time in the cryptocurrency craze.
When I first bought in about 3 months ago I was the only guy in the office talking about it, and now it’s spreading like wild fire and people are jumping on board every second.
For the average person now it’s not reasonable to actually purchase a full bitcoin, but because of some timing and luck I was able to.
As I write this we are in the middle of a huge downslide in the value of bitcoin, but I’m having a good time weighing my options as I enjoy the roller coaster.
With a little luck in the next few years, I could potentially have close to 100K asset in digital currency and will be at a real cross roads as far as continuing to hold it or cash it out for something more stable.
What I think is a no brainer is taking out at least my initial investment, and then letting the rest ride in the years to come.
We will see how it plays out in 2018, but if you have even a 100 bucks to throw at the top cryptocurrencies….do it.
Invest what you are comfortable losing, and have fun riding the wave.