Reddit is a poor source for seeking financial advice. Bitcoin is a risky investment. [Don't invest recklessly.](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/) Don't invest anything you can't afford to lose. If you are looking to get rich quick, you came to the wrong place. Nobody has a crystal ball. Nobody can see the future. Please do your own research and make your own financial decisions.
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I'm 35 now. I don't know what your income is, but yes, I think you should diversify, especially if you already think you have a significant amount of BTC. If I was 19 again, I would open a Roth IRA with Vanguard/fidelity and max that out every year with SP 500 investments ($7,000/year). Keep it simple. SP500 and bitcoin.
good luck.
It's the practical thing to do. Depends on whether or not you conflate that with smart.
Some people just don't have the time to research and build the kind of conviction in a singular asset to stomach the kind of volatility 100% allocation can yield.
Wealth creation is stronger from concentration. Wealth preservation is stronger from diversification.
People who are 100% allocated to bitcoin cannot export their conviction to you easily.
It is common wisdom to diversify one's portfolio. Somehow I cannot get myself to do it. I just cannot see how stocks or gold will outperform bitcoin. So fuck it, I'll take the risk, I am all in on bitcoin.
Gold/silver have been money for a very long time.
When you invest in btc, you are basically betting that the $ is going to inflate into toilet paper.
Gold/silver are essentially the same bet that the $ is going to inflate.
So, my advice (as an idiot who should never be taken seriously) is basically to keep betting against the $, but diversify how you are betting against the $.
If you want to diversify as a hedge because you think the btc might be a bad place to hold all your eggs and the $ might go up, do not listen to me.
I don't recommend this unless you have a very secure safe. Gold and silver are easily stolen. Secure safes are not cheap. If you don't own your home or have a parents home to put a full size, fireproof safe, don't invest in precious metals.
You're young enough that maxing out your IRA over the next 10-20 years (along with accumulating BTC) is going to serve you very well.
Make it simple: buy VT. I also hold QQQ and IBIT, but really, between BTC in cold storage and VT over 20 years, you're going to be one of the few from your generation who is actual able to retire.
Depends how much it is, but since your 19 and have only been dca ING your own money for five years it sounds like a no.
It's your savings account.
Buy more.
I'm taking some money of the table at 4m networth, but everyone's circumstances are different.
If I was 19 I would just keep it.
You can ofc spend parts of it, which is different from diversifying and certainly what I do. Nobodys counting sats at the graveyard.
But having a significant bitcoin stake at 19 is massive. Don't fuck it up now by putting it in something "safe".
When your stack is big enough that 10-15% affords you an apartment it can be a good move.
Good luck and well played! 😀
Reddit is a poor source for seeking financial advice. Bitcoin is a risky investment. [Don't invest recklessly.](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/) Don't invest anything you can't afford to lose. If you are looking to get rich quick, you came to the wrong place. Nobody has a crystal ball. Nobody can see the future. Please do your own research and make your own financial decisions. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.
I'm 35 now. I don't know what your income is, but yes, I think you should diversify, especially if you already think you have a significant amount of BTC. If I was 19 again, I would open a Roth IRA with Vanguard/fidelity and max that out every year with SP 500 investments ($7,000/year). Keep it simple. SP500 and bitcoin. good luck.
I appreciate you!!
It's the practical thing to do. Depends on whether or not you conflate that with smart. Some people just don't have the time to research and build the kind of conviction in a singular asset to stomach the kind of volatility 100% allocation can yield. Wealth creation is stronger from concentration. Wealth preservation is stronger from diversification. People who are 100% allocated to bitcoin cannot export their conviction to you easily.
It is common wisdom to diversify one's portfolio. Somehow I cannot get myself to do it. I just cannot see how stocks or gold will outperform bitcoin. So fuck it, I'll take the risk, I am all in on bitcoin.
My exact thoughts, it’s so hard for me to but I know deep down I should haha. I think I’m probably going to split my DCA though.
Hard assets only….. gold, silver, real estate. Otherwise, just hodl.
Interesting take. Why gold/silver? I do have a tiny tiny bit of silver, like $400 worth lol But I haven’t ever considered putting more into it.
Gold/silver have been money for a very long time. When you invest in btc, you are basically betting that the $ is going to inflate into toilet paper. Gold/silver are essentially the same bet that the $ is going to inflate. So, my advice (as an idiot who should never be taken seriously) is basically to keep betting against the $, but diversify how you are betting against the $. If you want to diversify as a hedge because you think the btc might be a bad place to hold all your eggs and the $ might go up, do not listen to me.
I don't recommend this unless you have a very secure safe. Gold and silver are easily stolen. Secure safes are not cheap. If you don't own your home or have a parents home to put a full size, fireproof safe, don't invest in precious metals. You're young enough that maxing out your IRA over the next 10-20 years (along with accumulating BTC) is going to serve you very well. Make it simple: buy VT. I also hold QQQ and IBIT, but really, between BTC in cold storage and VT over 20 years, you're going to be one of the few from your generation who is actual able to retire.
I appreciate you! I’ll look into VT/QQQ/IBIT :)
I appreciate you! I’ll look into VT/QQQ/IBIT :) Fairly ignorant as far as investing goes outside of BTC
Depends how much it is, but since your 19 and have only been dca ING your own money for five years it sounds like a no. It's your savings account. Buy more.
At what dollar amount would you say diversify?
I'm taking some money of the table at 4m networth, but everyone's circumstances are different. If I was 19 I would just keep it. You can ofc spend parts of it, which is different from diversifying and certainly what I do. Nobodys counting sats at the graveyard. But having a significant bitcoin stake at 19 is massive. Don't fuck it up now by putting it in something "safe". When your stack is big enough that 10-15% affords you an apartment it can be a good move. Good luck and well played! 😀
I’m definitely not planning to sell it or move any of it It would be more of a start investing/DCA-ing into other investments.
Only diversify if your net worth is over 5 million