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No, I bought in 2013 for $10k at about $7 per BTC. I had about a $300k net worth at the time, so it seemed like a good play. Periodically sold and distributed into several alt coins over the years (eth, dash, monero, bitshares, etc.). I could have made a lot more if I didn't sell so much, but at the time a 10x increase seemed like a one in a lifetime event. When it increased to $80 per btc, I sold 80% of my investment. When it hit $1000, I felt bad about selling so much during the last run up, that I didn't sell at all. I took the crash back to $200 in stride. I was convinced that crypto was following a pattern of boom and crash, and then boom again and that in the coming years there would a final "big wave" as the last market (finance and retail) opened up to it. It appears that that is what happened. I've already sold a lot, avoided taxes by making a CRUT (a tax shelter) but still have about 50%. I plan to sell some more in January, because I think this wave is going to peak rather slowly (because, let's face it, finance and retail are dumb. It will take finance a long time to shift direction, and public perception is going to change slowly, IMO. For example, the housing bubble went on for a year after it seemed obviously to have reached its peak.). Also it works to my advantage considering taxes to wait. My general advice now is if you see an investment you are unsure of but could pay off big time, you should invest a little at least. A basket of risky investments can be a huge windfall even if not all pay out. Also, when you think a risky investment has run its course and is going to crash, it's usually a good idea to not sell all of it and leave maybe 10% just in case. |