Bitcoin $100,000

[willendure]

This. It has a history of suffering ~80% drawdowns. If the wider market tanks, it could be especially brutal.

The mini crash in April took it down about 15% which was around the same as the S&P 500. Suggests that bitcoin will not be immune to stock market crashes, and I think likely to be worse in a major crash as generally considered a high risk asset.

On the other hand it could be a great buying opportunity in the longer term, as the next big crash is going to see $$ printing like nothing we have ever seen before.

[woody1]

I think when the wider market crashes bitcoin will crash hard too.

This. It has a history of suffering ~80% drawdowns. If the wider market tanks, it could be especially brutal.

[willendure]

Resisted for years, hard to disagree with the Ponzi argument, but I think there's now a strong case to have a (very) small exposure to crypto.

I've invested in funds for years (having learned about the concept of FIRE a few years back), and must admit I've enjoyed having a flutter with crypto (<1% total, and with monthly dollar cost averaging as opposed to trying to trade/dump significant sums in in one go) since turn of this year, although I've probably been lucky and enjoyed a boom period... Still very heavily weighted towards grown up investments mind!

Dollar cost averaging is the way to do it. But also with a tilt towards buying more at cheaper valuations and less or none at expensive. There are metrics you can use to guage cheap vs expensive. Look up "On-Chain Mind" on youtube, his analysese are very interesting.

I think when the wider market crashes bitcoin will crash hard too. So good to be aware of the wider picture and metrics that signal trouble there too - inversions, vix, swap spreads, etc.

[fiisch]

Resisted for years, hard to disagree with the Ponzi argument, but I think there's now a strong case to have a (very) small exposure to crypto.

I've invested in funds for years (having learned about the concept of FIRE a few years back), and must admit I've enjoyed having a flutter with crypto (<1% total, and with monthly dollar cost averaging as opposed to trying to trade/dump significant sums in in one go) since turn of this year, although I've probably been lucky and enjoyed a boom period... Still very heavily weighted towards grown up investments mind!

[Dorkeaux]

Blockchain-based currencies are a weird thing, but I like the math.

What I don't like is the instability of the exchanges, the laws that inhibit exchange and conversion to fiat currency, lack of security and the naked greed.

I wouldn't use the words "invest" or "own", but I gamble with a small allocation of Bitcoin (via a fund) and a little Dogecoin.
Losing it all wouldn't be painful, nor will it make me rich. But understanding the dynamics makes me better informed..

[woody1]

Now 5th largest global asset.

https://companiesmarketcap.com/assets-by-market-cap

Could it surpass gold? Nothing would surprise me anymore.

[Zigenare]

Before the last halving, stock-to-flow of BTC was roughly equal to that of Silver. Both had a market cap of around $1tn.
After last halving, stock-to-flow of BTC is a little below that of Gold. Gold has a market cap of $18tn.

Face peeling volatility, but the direction of travel is clear.

Until it all turns to rattulip.

The gamble is "If I pay this money now, will someone more gullible pay me more tomorrow?". Firstly I'm not that gullible in the first place and secondly I'm not that lucky - for those reasons, I'm out!

[Uncle Albert]

I got given a miniscule amount of bitcoin in a promotional thingy a few years ago.

It's now worth an amazing £2

I might sell up and retire to Swindon.

[willendure]

Before the last halving, stock-to-flow of BTC was roughly equal to that of Silver. Both had a market cap of around $1tn.
After last halving, stock-to-flow of BTC is a little below that of Gold. Gold has a market cap of $18tn.

Face peeling volatility, but the direction of travel is clear.

[willendure]

Which tells you everything you need to know

Its now a more important phenomenon than Amazon?

[Zigenare]

From 500 bucks to $100k in 8 years (+20,000%). That's some doing.

https://www.google.com/finance/quote...xAX&window=MAX

With a market cap of $2tn, it's now bigger than Amazon.

Which tells you everything you need to know

[woody1]

From 500 bucks to $100k in 8 years (+20,000%). That's some doing.

https://www.google.com/finance/quote...xAX&window=MAX

With a market cap of $2tn, it's now bigger than Amazon.