I don’t consider myself the best with money, but my friends and co-workers think otherwise. Last year, I re-invested solely into digital assets — also known as cryptocurrency. A large majority of news outlets report usually on bitcoin — considered the de-facto leader and “digital gold” by some. I sold all my holdings in stocks and bought the equivalent to digital silver at an easy to swallow $50 a coin. I got my feet wet in July 2017 when the market had momentum, but relative steady volumes. We all know what happened in December — the crazy bull run saw my coin reach almost $400 a coin — an unbelievable 8x increase.
This isn’t some rags to riches story because I cashed out in October — just 2 months shy of the magical $400 mark. Fuck me right? Bitcoin at the same time frame went from $2000 a coin to $20,000. I’m still kicking myself everyday for not making that buy order in July, but that’s hindsight for you.
Currently, bitcoin is going steady at $6,500 a coin and has been for the past few months. My current holdings is split 90/10. I think my friends consider it crazy I’m so heavily invested in an unregulated and speculative market where scams and hacks run rampant. Considering I only have 10% of my assets in standing cash in an IRA and the other 90% in crypto, I’m hedging my bets the next bull run is somewhere in November. Most industry analysts place it squarely in the November-December time frame and my God, I hope they’re right.
I have a good track record, but this game has been a second job to me all year. Let’s hope I walk away with $20,000 and then some.