I’ve talked about adding some “extra leverage” to my long term Bitcoin Holding if we were to see Bitcoin drop back down to the $8,500 level. Well, upon further consideration, I feel that this retracement and consolidation has run a course far enough for me to feel comfortable adding more exposure.
NOW, this is not a bottom call. This is me saying that at more than 30% off the highs, after a 3-month consolidation, I am happy to put more capital to work. Remember, for me I do not have a stop loss on my long term bitcoin position. I believe in it enough to ride this as a long term investment and deal with the consequences of being potentially wrong. But at the same time, my bitcoin is well under 10% of my net wealth, so my risk management plan is essentially having a level of exposure that I am OK in losing, in the event this thesis is incorrect. I find this is the best way to play the long game and to stay invested through the entire swings of the 4-year Cycle.
Remember, this is NOT investment advice, it’s only what I am personally doing. The 5 BTC was just added at $9,675 and I will post the public address on the model portfolio for tracking purposes. I will also have another video out this week!
All the best. You can only win if you’re still there at the end. “Eye on the prize”