I made that mistake going all in on asset. Never again. I could have won big but it is not worth having that anxiety. Anxiety makes you panic and panic makes you stupid. Going all in is a no no.
Even in Bitcoin? I have this belief that going all-in in Bitcoin is totally fine but a time will come that I'll have to diversify as well but not too much.
I have a diversified portfolio now which makes bucks even while I am sleeping. I have different assets all around the world. Every tiny share and sat I got is busting his ass to make money for me and I sleep much, much better. Not a care in the world.
This is great that you're already on this kind of life. I wanna be on this kind of state in my life soon.
You're having cash flow while sleeping so, from rent, dividends, and other passive income comes from diversified portfolio. And I guess even staking coins and interest accounts?
Yes even in bitcoin.
Bitcoin is not the only asset in the world, it is nothing special. It is just another asset in the world of finance. It might perform well or not just like any other asset in my portfolio and I do take profits when it starts to take over my portfolio. That’s called “having a permanent portfolio”. (Basically I rebalance the portfolio by selling some of the outperforming assets) That way you never tun out of either your shares/sats or USD.
I am mostly collecting dividends and bond coupons at the moment. Not particularly interested in real estate for now but I am studying it.
Going all in on btc has another big risk:
You miss your chance to buy lots of other assets for cheap and they go cheap all the time. Market anomalies always happen in the stock market.