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Started By
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 9:38 pm to UltimaParadox
quote:
What an odd argument.
People have been doubting this thing, myself included, all the way up to 70k a piece. I just don’t see how one day it all goes away. And I’m no stranger to being called crazy. But I’m totally fine with parking 20% of my retirement on a gamble. The value of the dollar steadily declines while wage growth stays stagnant. I can be safe and stick with what I’m doing, but at what cost?
Idk. I wish I had a crystal ball, but I think there’s dumber things I could do with my money than buy BTC.
Posted on 5/6/24 at 9:40 pm to CecilShortsHisPants
quote:
$4 million per Bitcoin? Surely this is a troll
Not a troll. Did you ever see it being as high as it is now? No one did. Why should we continue to doubt it as an investment vehicle?
Posted on 5/6/24 at 9:42 pm to dualed
OP is clearly invested in BTC already.
Surely your bags can't be that heavy. Are you worried the bull market is already over?
Paolo and friends will print more tether bucks to pump up the price soon
Surely your bags can't be that heavy. Are you worried the bull market is already over?
Paolo and friends will print more tether bucks to pump up the price soon
Posted on 5/6/24 at 9:46 pm to dualed
quote:
I’m totally fine with parking 20% of my retirement on a gamble.
That’s an insane statement.
quote:
can be safe and stick with what I’m doing, but at what cost?
What’s the cost of not being safe and sticking with what you’re doing? Much bigger than the answer to your question.
Can you explain bitcoin? Or are you just winging it? No one has any clue what the value of bitcoin will be in 2050 so I don’t know why you’re willing to bet 20% of your retirement on it.
You came here asking people a question but seems like you already have your mind made up.
What’s the problem with investing a little bit of each paycheck into BTC?
This post was edited on 5/6/24 at 9:50 pm
Posted on 5/6/24 at 9:48 pm to dualed
quote:
Did you ever see it being as high as it is now? No one did.
Sure, there’s no reason to believe it won’t be worth double the S&P 500 combined. I’d pull it all out. Yolo bro
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 12:28 am to UltimaParadox
Another btc thread…been in since 2017 and people have been saying the same stuff the entire time, but surely now that governments have accepted it, there are etfs on nyse, sec is on board, companies are buying it to stash, and many other things, it is doomed to go to 0…wtf are y’all smoking
Cats out the bag. Here to stay
Cats out the bag. Here to stay
Posted on 5/7/24 at 6:08 am to UltimaParadox
quote:
It has zero utility besides speculative investment
..other than you can buy stuff with it, maintain anonymity when using it, while enjoying no risk of it being seized by the government. For now, anyway.
If the fed centralizes it somehow - which would be a tall task - the value would go way down. If that doesn't happen, it will continue to grow in value. That's the gamble.
Posted on 5/7/24 at 7:54 am to thatguy777
quote:
governments have accepted it
Ah yes how are things going in to Salvador. Not great
quote:
there are etfs on nyse
Been great exit liquidity for whales so far, curious if the current outflows continue
quote:
sec is on board,
What are you smoking they are locked in legal battle with basically every exchange
quote:
companies are buying it to stash
Saylor been using this to cash out the whole time, have to hand it to him. Guy been selling stock for USD, while his company holds the BTC
quote:
it is doomed to go to 0
Never said that. Amway is still around, beanie babies are still worth something
Posted on 5/7/24 at 7:58 am to Naked Bootleg
quote:
other than you can buy stuff with it
Nobody does that except for ransomware... So guess that's half true. Granted BTC can only do 7 Transactions a second, you understand why nobody buys stuff with it. I'm sure you will tell me lightning fixes it next
quote:
maintain anonymity when using it, while enjoying no risk of it being seized by the government.
After the last few years, hard to imagine any crypto bro sticking to this narrative. Between all the coins being blacklisted that went through tornado cash, and all criminals getting tracked down. A distributed ledger of every transaction since the beginning is actually a great way to track someone down apparently.
quote:
the fed centralizes it somehow
They won't bother, the whole thing is pretty centralized already to a few players.
This post was edited on 5/7/24 at 7:59 am
Posted on 5/7/24 at 8:10 am to Naked Bootleg
quote:
..other than you can buy stuff with it, maintain anonymity when using it, while enjoying no risk of it being seized by the government. For now, anyway.
Nobody transacts in Bitcoin. The idea of it being used as a currency - to exchange for goods and services - went away years ago. Now its supposed to be a store of value/inflation hedge like Gold. Nobody is buying a tank of gas with pieces of gold - or Bitcoin.
Its not anonymous. That was another idea that went away years ago. Now the non-anonymity of it is seen as a benefit by its proponents. Blockchain is basically just a fancy way of saying append-only list of transactions - which largely removes anonymity.
I could make a bull case for Bitcoin going higher:
- The US Dollar will collapse and be replace by Bitcoin, so get in now before it skyrockets to a billion per coin.
- Fear that the US Dollar will collapse causes people to buy Bitcoin, sending the price higher.
- Gambling is at an all time high in the US, especially among those most likely to gamble - young men, who are biologically prone to risk taking. Sports gambling is becoming an epidemic. Bitcoin gambling is no different, this is just a new additional 24/7 casino. Its very likely that the price goes higher as more young men choose to gamble - much like OP in this thread.
At this point, most proponents for Bitcoin and Crypto don't want a better financial system, they simply want a new financial system with limited supply and they're already in and will be at the top in this new system. That's it, that's the whole thing.
Posted on 5/7/24 at 8:12 am to Big_Sur
Posted on 5/7/24 at 8:32 am to Big_Sur
Love seeing this. Every naysayers in that stadium will look back in 10 years and wished they would have allocated Bigly into Bitcoin at the time.
I no longer try to convince or dissuade anyone on BTC… I just sit back and always think to myself “ Everyone gets Bitcoin at the price they deserve”
I no longer try to convince or dissuade anyone on BTC… I just sit back and always think to myself “ Everyone gets Bitcoin at the price they deserve”
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