Quote from: Barikui1 on June 07, 2024, 07:00:25 AM

Quote from: wxa7115 on June 07, 2024, 04:57:05 AM

Quote from: I_Anime on June 06, 2024, 07:44:31 PM

Exactly that's why most time I don't advice anyone that haven't gotten far in his Bitcoin accummulation to diversify his cash in other investment rather focus on building a nice Bitcoin stash first in his portfolio, before thinking of diversifying yah cash .

Because you doing it now (diversifying) , will only slowdown your Bitcoin accumulation rate . And when it comes to Bitcoin having a small portion ain't encouraging at all , that's why you need to build some good stash through various means of accumulating though it. May Taks time but still worth it .

May be after reaching your accumulation goal you can focus other investment by diversifying yah funds.

Diversification is a strategy designed to protect the capital of the investor, this way if a sector in which they are invested does badly, their portfolio can still offer them a good performance if the rest of the markets are doing well.

But when it comes to building your wealth, concentration is the way to go, investing in too many markets and assets distracts you and dilutes your capital, but by doing the opposite and investing only on the best asset possible, you can dedicate your whole energy to it and become an expert much more quickly than if you took the diversification route.

Besides a great deal of the time the people that claim to use the diversification strategy, do it to invest in shitcoins which is not true diversification, not only because they are not investing in a different market than the one bitcoin created, but also because by doing so they are increasing their risk instead of reducing it, which is the true aim of diversification.

In my own point of view, when it comes to investment away from cryptocurrency generally, diversification is key and an important player in giving an investor financial stability, but when it comes to digital currencies, their is nothing to diversify, because their is no substitute to Bitcoin, Bitcoin is king, their is no other coin that is better or even close to Bitcoin, so what's the point diversifying, so in essence is that, if it's an investment outside crypto, then diversification is very good, because it gives you stability, but in crypto, it's either you invest in Bitcoin which is the real deal or get burn by alt or shit coin.

Lastly, as a Bitcoin investor that we are, we should try our possible best to have a very good stash of Bitcoin in our possession, then after then, we can think of investing in some other business away from crypto, to secure our future.

The point is you don't build wealth by diversification, what's the need of having so many asset and so little invested in all, as a bitcoin investor you should focus on building a good stash in bitcoin first before you think of diversifying, then when you have at least a while year of your living expenses in bitcoin then you can consider diversifying into other asset.

Bitcoin right now has more potential than any other asset I know, so it's a better idea to focus on building my Portfolio in it and this could take up to 4 years before I can have a whole year of my living expenses in bitcoin because of how much I'm investing now and it could also differ with someone else.

If your trying to build wealth don't rush, focus on one and when it has grown and you have a good amount invested then you can diversify into any other asset class of your choice.