Post
Topic
Board Economics
Re: Use your money wisely. Invest or Deposit ?
by
smile1218
on 05/07/2023, 07:38:59 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 ?

For me i will diversify my portfolio. I will invest in bitcoin and at the same time i will deposit some. I will wait for the price drop of bitcoin before investing in it as we all know that bitcoin and other crypto currencies is very volatile, and i am planning invest on the right timing so that i will not regret my investment. For the deposit i will deposit part of it that will be set aside for emergency fund. In case of emergency i could easily withdraw that savings in the bank. So while there is no emergency yet it would still generate a little bit of profit if it stays at the bank.