Good day everyone! This isn’t investment advice, just my opinions and actions. I just wanted to make a discussion about me selling some of my stock and mutual funds for bitcoin. I’ve been looking at crypto currency since 2011, but never bought it because I thought it was a waste of money, scam, dumb thing to buy, etc. A couple years later, I read more about the tech and got involved in many of the forums, communities, youtube videos etc and began to realize how big and revolutionary this thing called Bitcoin was going to be.
I thought to myself, stocks and mutual funds, savings is where money should be in for me to have a great retirement in the future. Then I looked back at 2008 and reminded myself of the losses that many of my family and friends endured in the recession from traditional stocks. My dad was buying bitcoin as speculation when it first came out and he did well in 2017 because he forgot about it, but didnt throw his computer away thank goodness.
So I’ve been saving, putting money away into my mutual funds, stock brokerage accounts, TSP, etc, but I was not happy. Over the past 10 years, I was not impressed with the traditional markets. The cryptocurrency thing was a big thing for me as I’m very much favorable for new things and new technology. I’ve even been impressed with the announcement of the Sirin Labs blockchain phone and am considering to get one after some reviews on it . I use to build my own computers, try to learn computer programming and noob coding, and got my mind and interest into the “tech world”, but then went into primary care to help people. I still love tech stuff and the goals of what Bitcoin can and will do for the future. Anyway, I moved a lot of traditional investment money into cryptocurrency, majority into bitcoin and litecoin, and never looked back. I had thought, dam those taxes are gonna hit me, but then the future of money and tech is crypto, blockchain, etc. Ultimately, although this tech revolution is big, I have to be honest about being in it also for the money. I want to maximize my earnings as much as possible (legally of course) and investing into bitcoin feels so good and right.
Right now my current portfolio is roughly 70% bitcoin/crypto and 30% traditional markets. Any profit I make from altcoins go into bitcoin. People called me nuts for doing this and for selling any of my traditional investments for bitcoin. It was my personal decision and I’m still comfortable. Anyone else want to share their experience in making such a move?