If Bitcoin goes up very high should i buy a house?
Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage. Is that even a good idea though? - basically 80% of networth in a house hmmm. On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.
Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage. Is that even a good idea though? - basically 80% of networth in a house hmmm. On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.
Man when Bitcoin reaches these high value I swear you need to convert into fiat. You will be able to buy a house with Bitcoin!The seller will accept Bitcoin!
Yeah i know but maybe not on this next bull run. Lets say we hit $3k- $4k in the next few months which could happen i doubt everyone well accept bitcoins for houses. Some people will sure.
I think you made the right decision when investing in Bitcoin. And now that bitcoin has crossed the $ 3000 - $ 4000 threshold you want. I sure you have your own home. If it is I am sure I will sell some of the bitscoin I keep and buy a house without renting or dependency. Moreover it is also a fixed asset without worry it will lose value. You can continue to invest in Bitcoin as it can bring you wealth (of course you should not sell the house you bought because wealth will always be at risk).
I agree you should not put your wealth into risk and if you bought a house due to bitcoin earnings, much better to treasure it because you can set it aside for your family's future most specially the kids if you're a married person. You can sell your bitcoins if you can save it at higher amount, and I am sure having bigger amounts will definitely gain bigger amount of bitcoin when the price will become much higher compared from current amount of btc right now. Having that wise decision can make certain profit to become more important on that goal on buying a house and don't rent anymore if you're not having your own.