Bitcoin is a valuable asset. I wanted to explain the importance of tangible assets and the synergy between valuable assets like Bitcoin. A new investor who neglects real assets and overemphasizes only accumulating bitcoins may end up failing long-term investments. emotional. For long-term investment management, the backup fund should be counted among tangible assets. Both permanent and temporary assets are important. Investment success depends on the combination of each asset and the amount of backup fund is should be sufficient to meet the needs of the family for 6 months or more.
If the reason to diversify into other assets is to reduce risk and help sustain our long-term plan in our Bitcoin investment then it is a good idea. Meanwhile, there is nothing wrong with focusing on accumulating Bitcoin for a while. While we go in search of other assets to maintain balance we ought to focus on accumulating enough Bitcoin that when held for a long term the profit will be reasonable. An investor who has not acquired enough Bitcoin should not think of diversifying in the initial stage.
For new investors they shouldn't be in a haste to go into diversification. Growing their portfolio at that early stage should be there ultimate criterion. At some point when they feel they are comfortable with what they have so far then they can start thinking of diversification. Those who are rich and can afford to accumulate faster can diversify when they feel like it because they have the resources to do so.
One thing about long term Bitcoin investment is that one should not see it as source of income, when you remove your mind from seeing it as a source of income then you can grow more bigger.
If you are into Long term Bitcoin investment you can do other business if you wish one must not wait to accumulate enough Bitcoin before going into a business or investment that will give you income.
Bitcoin is very volatile and one can't predict what will happen in the future and that is why I'm saying one should not look at Bitcoin as a source of income because you may plan to sell of your Bitcoin in the next 3 to 4 years and that time a dip happens it will live you frustrated so since the income you are using to invest into Bitcoin is your Discretionary Income one can still invest in a business that will be giving him or her income weekly or monthly that way it will even help your Bitcoin investment to grow since income is now coming from different angles.
That aside, Bitcoin still remains the best Cryptocurrency for investment, moreover when investing on it, I've learnt that the investor should have an emergency fund already in place therefore a good and experienced Bitcoin investor should understand that already, maybe it's newbies that would just jump into Bitcoin to get rich quick through it without an emergency fund.
Many people got their choices of investment when it comes to Cryptocurrency but I won't advise anyone to investment on any other cryptocurrency asides BTC, Bitcoin has proven to be the best investment overtime and those who's been holding since the previous circle can testify that. One thing that discourages many people from investing in Bitcoin is volatility but a good investor could take advantage of it instead of seeing it as a disadvantage to their investment plan
If you notice, Microstrategy is still accumulating more Bitcoin whether the price dips or not, they're not not bothered about volatility and their goal is to accumulate as much as possible so cause they're aware of what they stand to gain in future, the things is that if you're thinking about Bitcoin investment for focus should be in long-term and accumulating overtime regardless of your income.