Reply to If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?

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Reply to "If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?"

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[quote=Anonymous][quote=Anonymous]Late 30s, approximately $3 million invested, with $1 million of that BTC. I bought it all in 2016 and 2017. If I had $3 million to invest now, I don’t think I would buy $1 million in crypto, but since I already have it I will likely just leave it be. I’ve considered selling some but it’s kind of a pain to do so, I’d have to pay taxes, and I’m not sure where I would reinvest the cash.[/quote]

Taxes are an issue regardless so that has nothing specifically to do with bitcoin specifically or crypto in general. Not likely applicable in your case right now but crypto doesn't have the same wash sale rules so there are possible loss harvesting strategies you could employ that you can't with other securities.  I'm not an accountant so talk to yours about this -- also, this could obviously change in the future.

Not financial advice but if I were in your position, I'd dollar cost average my initial position plus some handsome profit out of of that $1mil and park it in VOOG for the next 8-10-18 months or so being prepared to buy back into BTC when it goes bear again and dips.  Which, based on previous market cycles, is likely(but not guaranteed!) to happen at some point.

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