What do people mean when they say to hold on to bitcoin? If someone wanted to spend 300k usd of bitcoin should they spend this amount as soon as they have it or wait longer until its worth a lot more than just 300k usd? How can this be determined?
When someone wants to spend $300k worth of Bitcoin, they should not spend it after receiving $300k worth of Bitcoin. They should definitely hold onto that Bitcoin until it reaches a value of more than $300k. For example, if invest $300k, you should definitely hold onto it and sell it when it reaches $700k to $900k. This is what I would do. You should definitely hold onto Bitcoin after buying it. You should not sell it immediately after buying it. But if you sell it immediately, it is better not to buy it than to buy it.