“So when are you going to sell some of your Bitcoin?”
The Big Question. You’ve probably gotten it from your spouse, or your best friend, or that third cousin at Thanksgiving dinner who always is ready to gloat over the latest 50% drop in Orange Coin.
But think about it logically - are you “selling Bitcoin” or are you “buying Dollars”?
Flipping the Script - Redefining the Buy and the Sell
When you “buy Bitcoin” you are obviously taking some of your dollars and exchanging them for Satoshis, a fraction of a Bitcoin.
But when you go to sell, are you selling the Bitcoin?
Or are you “buying dollars”?
Technically, its both. But a mindset change can make you think about this a little more, and make you a better investor. And a better investor will make your future self wealthier, which is the end goal for all of us.
Instead of Selling Bitcoin, You’re Buying Dollars!
Dollars are abundant, and they keep on making more!
So why are you selling something scarce - Bitcoins, for dollars?
Sure there may be an emergency, but does it require something as drastic as selling something created to shield your wealth from the attacks of Central Bankers and their masters at the government?
Remember this phrase anytime you think you might need to buy some Dollars with your Bitcoin:
This phrase refers to products or resources that are highly limited.
Things like Bitcoin.
Find a Different Dollar Source - Examine your Options
Maybe you have some stocks or bonds laying around.
Or some home equity you can borrow against. Even your good name can serve as a bridge during tough financial times, as banks will loan you a bit if your reputation for paying back Dollar loans is good.
The point is, don’t sell your Bitcoin for Dollars. You’ve already put in hundreds of hours researching why Bitcoin is the superior asset. Why throw that time invested away now?
We are smack-dab in the middle of the multi-decade monetization process.
Selling finite Bitcoins for infinite dollars would be a mistake like no other.