The other day I've found this interesting blog about someone in Europe planning to retire early by converting a fixed amount of their monthly salary into Bitcoin.
He started doing this in the bull market of 2017 and keeps doing it every month, no excuses. A specific amount, 500 euros, is always converted into Bitcoin and stored away in cold storage.
Well, this may work for him as he is saving 500 euros every month from his salary and converting to bitcoin. This is a good amount and for sure he can have an early retirement but most of us cannot put that much money into investment in Bitcoin on a monthly basis. The secret here is that if you have more money for bitcoin investment, you will get more profit and hence you can plan this early retirement. Otherwise, with less investment, it will still be good but the money won't be enough to feed you for many years.
You have a point but I don't agree with you.
Yes, capital is like the soul of every business. However, huge capital without proper timing and strategy could lead to disaster.
The good thing about Bitcoin investment is that you may not have more money and still make more profit. Yes, you hear me right. The problem is that people harvest when they are supposed to sow.
If you invest when there's a market bloodbath will get more profit than the person who invests 500Euro in the bull market, as the market is bull now I am already accumulating some capital for the bloothbath market but the majority of Bitcoiners see it as time for accumulation which is already passed.