I'm not smart enough to trade or time my purchases. I am smart enough to convert my salary to bitcoin and not touch it. It's simple, but it's not easy.
I would only buy it in a retirement account as a substitute for bitcoin if you can't get the real thing (or you could go through the trouble of setting up a self-directed IRA to hold actual bitcoin in retirement account even though gbtc is currently trading at a discount vs bitcoin, that gap may close if/when it is allowed to be converted to an ETF. I would still buy GBTC over stocks even with the discount
Yeah, taxes will kill me this year because I'm an emotional trader. Having all that in an investment roth is nice. Last time I checked, the discount is at 27 ish percent and will probably go higher because mstr is in a current bind of reporting BTC assets. I think the whole Canadian spot ETFs are nice but as an American, don't want weird tax forms and I rather have zero commissions from a broker who will sell my order flow regardless. Asking because a friend got early into the fund but is panicking over the latest dump. Thinks "there is no discount" and blah blah blah. I'm like, some optimists still think it'll be approved in July but I don't have that much skin rn to convince you otherwise.
which means that it'll become a fiat currency, which contradicts the argument for having cryptos btw, while the stock market is tanking, accordingly, the traditional hedges (precious metals / oil / base materials/ utilities / bonds) against inflation / volatility have risen; but not bitcoin which has tanked along w the stock market. in crunch time, bitcoin has choked again, providing more evidence that it is not a store of value nor a viable substitute for the stock market
What do you mean by this? If you mean that Bitcoin is going to be owned and controlled by some governing entity, then I think you don't understand the fundamentals of Bitcoin. If you mean that Bitcoin is going to become legal tender/standard currency in some form, then that by no means contradicts the argument for cryptocurrency's existence.
you realize that my comment was in reply to Commodore post, no? this claim suggests that Commodore doesn't understand what world reserve currency status is
Bitcoin is in its super infancy. It's a wild ride and will be for a good while until we see the total assets get more widely distributed and the technology achieve more adoption. If you look at the fundamentals of the technology, it's designed specifically to be resilient against inflation/volatility (built-in scarcity, security, decentralized, etc), but it will take time for those features to overshadow the speculative nature of a novel asset when it is held by so few people. We've seen many large dips and BTC has always come back stronger. This will be no different. People see great utility in BTC and for good reason.
I see a lot of value in an asset that cannot be manipulated by a governing authority, cannot be forged, and can facilitate faster and cheaper transactions around the world.
lots of evasive words that, taken as a whole, say nothing btw, global reserve currencies, have been and will always be, can be manipulated by Gov
