Post
Topic
Board Economics
Re: Use your money wisely. Invest or Deposit ?
by
ammo121810
on 04/05/2023, 23:57:06 UTC
Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

Having a $100,000 sleeping in my bank account with an annual interest rate of 3%, For me i will invest it in bitcoin specially if the price of bitcoin is in deep like it reaches $17,000. We all know the risk potential of the crypto market, but for me i believe it would be a good investment because my goal is to keep bitcoin for a long time and i will wait till the bull market for me to be able to get profit. If i will just keep my money in the bank the interest earnings is very low compare if we take a risk in investing in bitcoin.