10 sats \ 5 replies \ @ChrisS OP 21 Dec 2023 \ parent \ on: Sell bitcoin to pay off debt ? Personal_Finance
Great points and I agree with everything you say. Does your opinion change at all in based on what percentage of a Bitcoin stack would need to be sold in order to pay off the debt? I would never sell 80 percent of a stack to pay off all the debt but as the percentage needed to sell to pay off gets lower I think it makes more and more sense. If Bitcoin pumps a lot and I had to sell only 5 percent and could pay it all of it, I think it makes a lot more sense. My logic would be if Bitcoin does what we all think it will in the coming decades the missing 5 percent would not affect my lifestyle at all. But in the very very small chance Bitcoin does not turn out like we all think, it’s a big strain on me and I sure would like to be debt free in that event.
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Hey @Thawne are you married and do you have kids?
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No worries. If I had to guess you are a single bachelor without kids and little responsibilities. No responsible husband and father would ever say take on more credit and delay credit so willy nilly without actually hearing someone entire life circumstance.
Sure if you have a big income, minimal debts and life insurance I could see a strategy of taking on a small HELOC a maximize returns.
But your level of thinking is akin to thinking like a fiat maximalist "Debt is wealth".
No, no it is not. And those with families would not put extra burdens on their family if they were to unexpectedly pass away.
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