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Message
How much should I invest in BTC today?
Posted on 5/6/24 at 9:09 pm
Posted on 5/6/24 at 9:09 pm
I’ll be 34 in two months. 140k in my 401k is basically all the retirement money I have. No other accounts other than what my wife has. I see projections right now of BTC at $4M+ per coin by 2050.
So my thinking is right my 401k looks to be worth between 1.5M-2.0M by my earliest retirement age (55). If I were to buy even a half of a bitcoin today, then that could be worth more than my 401k account alone at the end of the same time period.
I haven’t been in the space in a while because I lost a lot of money in it. I bought and sold at the wrong times when I was younger and I got sour to everything. But clearly at this point BTC isn’t going anywhere. It wouldn’t have lasted this long otherwise. So should I just rip out some money and call it being better diversified?
I was thinking of just ripping out 30k of my 401k and going for it. I don’t see the 30k compounded being worth more than 200k at the end of my career. But it could be worth over a million if I parked it in BTC.
Thoughts?
So my thinking is right my 401k looks to be worth between 1.5M-2.0M by my earliest retirement age (55). If I were to buy even a half of a bitcoin today, then that could be worth more than my 401k account alone at the end of the same time period.
I haven’t been in the space in a while because I lost a lot of money in it. I bought and sold at the wrong times when I was younger and I got sour to everything. But clearly at this point BTC isn’t going anywhere. It wouldn’t have lasted this long otherwise. So should I just rip out some money and call it being better diversified?
I was thinking of just ripping out 30k of my 401k and going for it. I don’t see the 30k compounded being worth more than 200k at the end of my career. But it could be worth over a million if I parked it in BTC.
Thoughts?
This post was edited on 5/6/24 at 9:10 pm
13
Posted on 5/6/24 at 9:16 pm to dualed
If you want a complete gamble sure. I personally will never touch my 401k until I retire especially not for a flip of the coin gamble.
Posted on 5/6/24 at 9:21 pm to dualed
If you want some exposure to Bitcoin possibly just buy some of it in one of the new ETF's if you have Fidelity the ticker is "FBTC".
Posted on 5/6/24 at 9:30 pm to dualed
quote:
But clearly at this point BTC isn’t going anywhere. It wouldn’t have lasted this long otherwise
What an odd argument.. Amway and other MLM scams still exist and yet you wouldn't invest in them. Scientology has been around forever, yet you probably think those people are crazy.
quote:
was thinking of just ripping out 30k of my 401k and going for it. I don’t see the 30k compounded being worth more than 200k at the end of my career. But it could be worth over a million if I parked it in BTC.
If you want to gamble and get rich quick then buy a lottery ticket. Otherwise not sure how you came to the conclusion that Bitcoin for sure is going up? It has zero utility besides speculative investment.
I would say it is extremely risky to invest anything you aren't willing to go to zero. So a very small portion of your accounts. Around 20% exposure to any single security seems like a massive risk for anything.
This post was edited on 5/6/24 at 9:31 pm
Posted on 5/6/24 at 9:30 pm to dualed
quote:
haven’t been in the space in a while because I lost a lot of money in it. I bought and sold at the wrong times when I was younger and I got sour to everything
You’ve clearly learned nothing from your mistakes.
You want to invest in bitcoin? Fine. I’m invested in bitcoin and have no problem with it.
You want to rip $30k out of your 401k and put it in bitcoin because you saw some vague arse projection? There’s no help for you.
Don’t touch your 401k contributions. Save some money from your paycheck. Invest it how you want.
This post was edited on 5/6/24 at 9:32 pm
Posted on 5/6/24 at 9:34 pm to dualed
quote:
I see projections right now of BTC at $4M+ per coin by 2050.
Man, don’t pay attention to stupid shite like this. Buy some if you like it as an investment
And why did you wait till it’s right below its all time high to all of a sudden be interested in bitcoin for the long term? This leads me to believe that you’ll buy it and frick it up like 90% of everyone does when they buy it. When it’s back down 80% in a couple of years you’ll freak out and dump it at a loss
Posted on 5/6/24 at 9:35 pm to dualed
$4 million per Bitcoin? Surely this is a troll 
Posted on 5/6/24 at 11:14 pm to dualed
quote:
I was thinking of just ripping out 30k of my 401k and going for it. I don’t see the 30k compounded being worth more than 200k at the end of my career. But it could be worth over a million if I parked it in BTC.
Thoughts?
Go for it, you should maybe do it all.
Posted on 5/7/24 at 9:18 am to dualed
quote:
I was thinking of just ripping out 30k of my 401k and going for it.
I'm bullish on crypto and BTC...but I wouldn't do this.
Find the money from somewhere else to invest into BTC.
Posted on 5/7/24 at 9:54 am to dualed
I’m probably 75% net worth tied to BTC or BTC related equities and I’d advise not touching your 401k if that’s all the assets you have. Start a new investment into BTC if you want but judging by your comment if losing your arse previously, that tells me you don’t know how to buy and just sit back and wait, so you will probably frick it up again when BTC inevitably drops 50+% again
Posted on 5/7/24 at 10:09 am to dualed
Posted on 5/7/24 at 11:19 am to dualed
quote:
I’ll be 34 in two months. 140k in my 401k is basically all the retirement money I have. No other accounts other than what my wife has. I see projections right now of BTC at $4M+ per coin by 2050.
So my thinking is right my 401k looks to be worth between 1.5M-2.0M by my earliest retirement age (55). If I were to buy even a half of a bitcoin today, then that could be worth more than my 401k account alone at the end of the same time period.
I haven’t been in the space in a while because I lost a lot of money in it. I bought and sold at the wrong times when I was younger and I got sour to everything. But clearly at this point BTC isn’t going anywhere. It wouldn’t have lasted this long otherwise. So should I just rip out some money and call it being better diversified?
I was thinking of just ripping out 30k of my 401k and going for it. I don’t see the 30k compounded being worth more than 200k at the end of my career. But it could be worth over a million if I parked it in BTC.
Thoughts?
Your position in btc should be sized with your understanding of it. If you're asking here instead of reading everything you can get your hands on I'm going to guess that a 1-2% allocation is probably appropriate for you. Lots of people yolo in without doing the work and get shaken out during their first 20-30% drawdown. Those that do survive those "mild" bull market shake outs inevitably dump at the depths of their first bear market when it nukes 70+%.
LINK /
This^ is a program that allows you to plug in various allocation sizes with different equity baskets see how it affects things. Btc in small allocations, counterintuitively, tends to smooth out the vol of equity portfolios over time. Fun fact: pick any 4 year time period since 2009 and a 2% btc 98% cash portfolio has outperformed the S&P over the same period.
At the bare minimum, read this.
LINK
Posted on 5/7/24 at 12:47 pm to dualed
The key word in your post is “invest”
No one “invests” in bitcoin. It’s purely traded on speculation based on the greater fool theory. It literally goes up because people buy it because people buy it because people buy it. It’s musical chairs.
It has no intrinsic value.
If you want to use play money to trade it then fine but don’t “invest” anything
No one “invests” in bitcoin. It’s purely traded on speculation based on the greater fool theory. It literally goes up because people buy it because people buy it because people buy it. It’s musical chairs.
It has no intrinsic value.
If you want to use play money to trade it then fine but don’t “invest” anything
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