BITCOIN

Scottex99

Sounds great, sitting in spot, chilling

One of my issues was I didn’t “need” the money in any of the previous cycles.

So other than increasing my bag size, what am I selling for? And I don’t know where the price is going short term, nobody does.

Although I do remember now, I started dumping some alts and sold a bit of BTC as it came down off $90k maybe, just to have some profit in stables/fiat and a little something for my time haha.

But then you’re sat in GBP thinking well what now, some easy access savings account paying a measly 2.72%?

I will sell most of it eventually, but I’ll probably hold some forever, for that $10m moonshot

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/82113765#Comment_82113765

Very odd to compare a speculative asset like BTC to easy access savings, but luckily in the UK 4.5% is readily available for said savings. Fixed interest, gilts and other investments offer more if you are able to move away from EA.

Scottex99

Yeah I’m not comparing, I’m saying personally when I take profits and stack them in my bank do I park them in savings, buy a global index fund, buy NVDA stock or whatever else

As an example of once you’re in the speculative asset and historically it’s crashed multiple times but then made a new ATH every time, it creates an interesting dynamic

noitsnotme

https://forums.moneysavingexpert.com/discussion/comment/82113765#Comment_82113765

Exactly. If I needed the money I’d sell it. I don’t need it so why stress myself out trying to guess which way and when the price goes.

MeteredOut

https://forums.moneysavingexpert.com/discussion/comment/82115371#Comment_82115371

Do you regularly review your investments to determine if they are still making the best use of your money?

noitsnotme

https://forums.moneysavingexpert.com/discussion/comment/82116623#Comment_82116623

My IFA does, I'm far too busy for that. The crypto is not part of that, it's my "play" money.

Section62

Be careful out there folk…

https://www.bbc.co.uk/news/articles/c6eq84eygz0qo

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82156155#Comment_82156155

True, but the (truly horrific) attack described in the BBC article happened last December, so unlikely to be linked to the recent Revolut leak.

booneruk

 this type of incident highlights a vulnerability for users.

Surely if bitcoin is anonymous then generally people are going to be… anonymous! if someone mouths off about their bitcoin then that's putting yourself at risk. The individual is usually the problem.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82156511#Comment_82156511

No need to "mouth off" about your anonymous holdings when Revolut will do it for you. Nice how the scammers only bothered to ask for the data of persons with large crypto holdings.