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38 sats \ 1 reply \ @79c9095526 31 Mar \ on: Bitcoin price AskSN
As someone who is retired with the majority of my wealth in bitcoin (and without a pension, social security yet), price drops can be a struggle.
I think the total net worth number is much more anxiety inducing than the % profit you're in, particularly when you're past your sat stacking days. That would apply even to a traditional retiree with a stock portfolio. It doesn't matter that you bought Apple at 1/4 of today's price, what matters is how much your net worth is fluctuating to the downside.
Bitcoin is money, magical internet money, but still money. The point of money is to be able to buy things of actual value to a finite human life. Things like shelter, transportation, food. Purchasing power of a money going down is bad. I don't want to be able to buy less bananas today than I could yesterday.
Now, I believe on a long timescale the purchasing power of bitcoin will go up and it has proven a very worthy store of my life's monetary value thus far. But drops still hurt.
To be honest, I think at some point, I will diversify a little bit and put some amount into more 'stable' stores of value that I know can hold me over for 5ish years. That way I don't have to think about bitcoin price as much or selling during a bear market.
I've had the same thought but struggled to put it into words. When your net worth is entirely in Bitcoin, short-term price drops can make things difficult—especially when you need to make a purchase. It creates a tricky cycle: holding cash feels like being short on Bitcoin, but holding only Bitcoin means a price drop in fiat terms feels like everything in your life just got 20% more expensive.
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