Re: What did you buy with your Bitcoin as Plan B for the future?
A year or two ago, I was one of the lucky people who broke even with my investment capital and since then I made almost 800% profit on the capital that I invested in Bitcoin. I decided very early on that I would not have all my eggs in one basket and I started to sell some bitcoins to buy assets and also collectables to serve as a plan B.
How many people sold some bitcoins for some profit and used that profit to invest in something else, just in case something went wrong with this experiment?
If you follow the same strategy, please share your thoughts on what you are buying or planning on buying to distribute your investment portfolio?
How many people sold some bitcoins for some profit and used that profit to invest in something else, just in case something went wrong with this experiment?
If you follow the same strategy, please share your thoughts on what you are buying or planning on buying to distribute your investment portfolio?
I somewhat followed the same plan because my Post Graduation in Finance taught me to diversify the portfolio. However, I didn't invest in collectible items because the return is somewhat uncertain. Instead I bought an Single Premium Immediate Annuity Insurance plan from the profit I made back in 2017. It gives me a monthly income which will continue for 15 years and peace of mind because I won't have to think about the basic necessities even if I loose my job.
I suggest you to go ahead with similar type of Insurance plans which provides monthly income as well as the capital protection for the insured period. I opted for "Refund premium" rider so I will also get back the premium amount at the end of the policy term. Let me know what do you think about my Plan B?