I have given some thought to the idea of putting some portion of my bitcoin in some kind of a product that earns yield.. .. so then I would lose control of the bitcoin, yet hopefully hold the equivalent of that bitcoin and then earn yield in dollars.. but right now, I am not at that stage in my own bitcoin journey and/or the way that I am currently managing my bitcoin holdings.. I will admit that there could be some motivation to figure out ways to lessen tax implications, so at some point in the future, I might end up putting some portion of my bitcoin into some product that I might be able to use as a way of getting dollars and not having to pay capital gains on my bitcoin in terms of the alternative of regularly selling bitcoin and then being stuck with capital gains taxes on those sales, which i have been doing for quite a few years... maybe 10-ish? There might have been some years where I did not have any bitcoin sales, so no capital gainz, but I cannot recall off of the top of my head.
JJG As you said, invest some money in such a sector so that you don't have to sell the Bitcoins at the right moment.
Yes, I will tell you a story about my investment.
When I started investing in Bitcoin, I had a very small amount of money in my emergency fund.
A few days after investing in Bitcoin, I received a large amount of money from my father. One night, I was thinking about what to do with that money. At one point, I thought that I should invest the entire amount in Bitcoin, and then I thought that I should also keep some money in my emergency fund. While thinking like this, I was looking for the best way to use the money. Later, I thought that if I invest this money somewhere, I will invest in Bitcoin with the profit I get every month.
That's what I thought. I invested the money in a sector from which I get a good amount every month, and as soon as I get the economic profit, I invest the entire amount in Bitcoin. Now I am very confident that even if the entire amount of money I earn from my job is spent on basic needs, I will be able to buy Bitcoin continuously.
Although I have the highest confidence, I am not disappointed if I did not invest the entire amount in Bitcoin at that time because I have been able to invest in Bitcoin so far with the profit earned from that money. And now I am very confident that if God forbid, an emergency situation arises when I cannot meet it with the money in my emergency fund, then I will be able to use the money invested in that place as a backup fund.