3 Reasons Why Taking Profits in US Dollar With Your Bitcoin Is Not the Right Option.
Do this instead with your Bitcoin.
If you liked reading this, feel free to click the ❤️ button on this issue so more people can discover it on Substack 🙏.
In the investment world, you have a saying that taking profits is never a bad thing.
After all, you bought a stock at $100. That stock goes up to $150. You sell. You take a $50 profit. Even if that stock goes much higher, you'll have nothing to be ashamed of: you made a profit.
That's the whole point of investing in the stock market!
With Bitcoin, some people are tempted to apply the same strategy.
These people dream of just one thing: for Bitcoin to reach $100K. In their minds, there's only one question:
What am I going to do when Bitcoin hits $100K?
Most of them are already starting to imagine taking profits in US Dollars to buy all kinds of things.
In my opinion, it's a mistake to choose to take profits in weak money with your Bitcoin. I'll give you 3 reasons why in what follows. Better still, I tell you which option you should consider instead.
Keep reading with a 7-day free trial
Subscribe to In Bitcoin We Trust Newsletter to keep reading this post and get 7 days of free access to the full post archives.