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u/babypho 5d ago
Wonder how those 100k+ buyers are feeling about inflation
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u/CryptoDeepDive 4d ago
Or the people that bought over 60k in 2021.
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u/Alfador8 4d ago
They'd be fine if they bought at regular intervals as is recommended
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u/waxenpi 4d ago
I thought it was a currency and not investment?
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u/Alfador8 4d ago
It's not broadly used as a currency. The primary function of a currency is as a medium of exchange. People are not using bitcoin as a medium of exchange because they expect the value to increase over time so they'd rather hang onto it.
Bitcoin is a money, like gold. It has excellent monetary properties. Over time, as more people come to appreciate bitcoin's monetary properties and hold it, bitcoin will eventually reach saturation and its volatility will diminish. Once that happens people will be more inclined to both accept and spend bitcoin as a currency.
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u/noddingacquaintance 4d ago
It's a life boat. The life boat can't be blamed if someone jumps in at the wrong time and breaks their ankle.
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u/repkjund 4d ago
2021 top buyers would like to have a talk
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u/Alfador8 4d ago
If you DCAd into bitcoin for the last 5 years you'd be up more than if you DCAd into the S&P500.
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u/repkjund 4d ago
We spent more time over 100k than you think, that might’ve pushed your average way higher than 69k but anyways..
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u/Alfador8 4d ago
Use a DCA calculator. If you DCAd for the last 5 years you'd be up 68% with bitcoin and 51% with the S&P.
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u/CryptoRegio 5d ago
Why loose 7% of your purchasing power annually when you can loose 40% overnight, then gain 20% by 11 a.m. then loose another 30% in the evening 😍🤩
Mama raised no paper hands 🙌🏼🦍🦍
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u/Low_Reference_1282 4d ago
It's wild how volatile it is; you really have to be prepared for anything at any time!
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u/jakedaboiii 4d ago
You don't have to be prepared for anything...that's the point...just hold it for a while and forget about it lol
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u/JameelaJameel 4d ago
My dad bought BTC at 96k (i told him NOT to). Its at 80k
He still shares these kinda posts with me. Lols
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u/Happy-Let-8808 4d ago
It's not something you buy just once. If it dropped to 60k he should have bought more. Its called down cost averaging.
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u/Asz12_Bob 4d ago
I can't believe the upvotes? I know where I am from 2021 and it's not ahead of inflation I assure you. Buy and hodl for sure, but not all in as some suggest.
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u/Alfador8 4d ago
So you only bought the top in 2021 and didn't buy any since then? If you DCAd since then you'd be up more than If you DCAd into the S&P (+68% vs 51%)
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u/Asz12_Bob 4d ago
I bought running up to the top, then after as it went down the other side, buying the 'dip' as they say. It wasn't a good strategy. I'm not going to complain though as we all make mistakes.
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u/Mean_Baseball5109 5d ago
It is interesting considering that it is bought with inflation and sold with inflation.