Post
Topic
Board Bitcoin Discussion
Re: Loan to buy Bitcoin?
by
Asuspawer09
on 18/10/2020, 20:40:31 UTC
I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?

I think buying bitcoin using a loan doesn't sound like a good idea at all, because invest in bitcoin is a big risk meaning if your investing what came from a loan that could just make it worst.

But your method might actually work, buying a big volume like 2 bitcoin at once is better than going to a 500$ investment in every month that came from your salary. Even though a small pump would be an easy profit if your going for 20k$ at once. At some point, you not really going to lose any investment if you're not going to sell your bitcoin if you're just going to hold your bitcoin for a long time, or maybe you could wait until you fully paid your loan that might be a big profit.

Still, investment is risky so there is still a chance that you could lose your investment if you stop believing in bitcoin or make a wrong sell decision.