Ninjastic
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Re: I just realized I'm 99.9% crypto and 0.1% in fiat
by
wxa7115
on 20/04/2021, 17:00:06 UTC
Quote from: thecodebear on April 13, 2021, 06:58:20 PM
Quote from: wxa7115 on April 13, 2021, 06:28:17 PM
Quote from: thecodebear on April 13, 2021, 01:30:53 AM
I knew I was right around 99% crypto, but I actually took a second to calculate it and I'm only 0.1% fiat, 99.9% crypto right now! Granted I'm very low on cash right now haha, gotta cash out a couple thousand dollars worth of staking rewards to pay expenses this month, and generally I want to keep 0.5% in cash for my emergency fund.

But this just got me thinking, for anyone willing to share (just percentages, no raw numbers) where do your net worth crypto/fiat/anything-else percentages stand? Smiley Anyone else gone full bore into crypto as I have?
You have too much fiat LOL, but seriously speaking I don't see anything wrong with what you are doing, if you need a little bit more of fiat then do so after all only you know how much fiat you need to have in order to cover your expenses and any kind of emergency, some people may think that you are investing too much in this market but they do not realize that diversification is a strategy to protect your capital.

If you want to raise your capital then you need to concentrate most of it in just a few key investments that are going to do very well during the next years and without a doubt bitcoin is the right choice for that.

Yup, exactly.

Stuff like rebalancing and diversifying is for when you no longer want to prioritize gains and just want to reduce volatility of your portfolio and prioritize stability to protect your capital over growing it. You don't diversify out of or rebalance away from your winners and into worse investments when your goal is growth.

And yeah when I need fiat hoping on an exchange is easy enough. I just cashed out $2500 from my trading account this morning because i need it to pay my expenditures at the end of the month. Easy as can be.
It is nice to see another user with the same thought process, most of the time I see users talking about diversification and that is fine when you want to protect your capital but when you want growth then you need to concentrate your capital in just a few investments.

Bitcoin is so far ahead any other financial instrument that it does not make sense to invest in anything else, after all what stock can give the same profits that bitcoin has given during the last year? And even if there are a few stocks that have given more profits than bitcoin those stocks are the equivalent of shitcoins and very few would have taken the risk with those stocks anyway.