Many people are talking about Bitcoin hitting $1 million USD in the future. Crypto enthusiasts are very optimistic, as they believe their dreams will come true with a Bitcoin halving taking place every 4 years. If Bitcoin hits such price levels, many early adopters will become millionaires. It could be tempting to either sell all of your Bitcoin or "hodl" it for the long term.
What will you do if Bitcoin hits $1m in the future? Will you sell all of your Bitcoin for cash? Or will you go long in the hopes of Bitcoin reaching higher prices on the market? Will you donate your profits to a charity? Just curious to know. Your input will be greatly appreciated. Thanks.
What will you do if Bitcoin hits $1m in the future? Will you sell all of your Bitcoin for cash? Or will you go long in the hopes of Bitcoin reaching higher prices on the market? Will you donate your profits to a charity? Just curious to know. Your input will be greatly appreciated. Thanks.
This applies to USA citizens
First, $1million isn't what it used to be. The idea of $1million being enough to retire on came from the early 1960s when you could get 6% in a savings account and live off the interest.
So, let's talk about today. If I have 2 coins and I paid 100K for them I have 1.9M before taxes and $1.52 after paying capital gaines. So you have to figure out how to invest that to live on. My advise, keep working and investing.