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I’ve learned the hard way.. I got a Bitcoin loan to buy more bitcoin in 2020 because S2FX model said Bitcoin was going to $100k by the end of the month.
It didn’t.. and I lost 80% of my entire stack trying to cover my loan LTV before it was margin called anyway.
Now I stay humble and stack sats. If it goes down it’s a blessing to stack more, if it goes up it’s worth more.
If any plans rely on the price being x by y, it’s not a good plan. Just stack as much as you can that you can happily not use for more than 4 years.
Replies (6)
I'm proud to say, I've done nothing but buy and stack with no funny business. I've had to sell a bit to buy a truck, but what do you...
That's what Bitcoin is for.
To save and spend when needed.
Not to be traded or leveraged.
Debt is the enemy of sovereignty.
If you can get a fiat loan from a regular bank collateralized with say property. Then it's a no-brainer.
I was offered 2 small interest free loans (not really though, establishment fees equated to 2%), at a short 12 month and 2 year interval. I took them happily.
Just don't take on leverage with your Bitcoin as the collateral (say on an exchange) that is a recipe for getting rekt.
