“Investing” in bitcoin isn’t the correct way to think about it, in my humble opinion. What you would actually be doing is “saving”. Instead of saving your value/monetary purchasing power in inflationary dollars (or whatever other fiat relevant to your locality), you have the option to save your value with disinflationary btc. It’s simply a better monetary vehicle to hold and/or increase your purchasing power in for long term savings. Just dollar cost average with small amounts of cash that you do not need to spend and want to save. Slowly watch your stack of btc grow in both units and in value over time.
If it helps understanding, I do not consider owning gold investing either… Gold is simply a harder monetary instrument over dollars. And further, btc is a harder monetary instrument over gold.
The term “investing” makes sense in the context of putting money into a business, stocks, or some mechanism for cash flow, etc... not in savings via various monetary instruments.
The main psychological hurdle to overcome is fully switching your personal unit of account to bitcoin as the monetary unit that is the goal post to increase the number of. Not USD or whatever other inflationary fiat.
Everything in the normal economy is denominated in fiat, especially taxes. That’s fine. Earn your fiat as income and spend your fiat for all your expenses. Pay your taxes in fiat.
Every time you sell bitcoin, you are activating a capital gains tax event, which is not ideal and only hurting yourself in the long term. Don’t give the government more money than you have to.
In other words, earn as much money as you can, live below your means, make responsible investments to increase your cashflow, pay whatever taxes you are legally responsible for… And then, for all the extra money you earned that is pure savings, it’s better to store it in bitcoin for long term savings.
Then one day far in the future you may have to sell/spend some small portion of your bitcoin, just as anyone decides to spend from their savings...and that’s ok, because in the future the value of your savings will have appreciated greatly. And for all the bitcoin you have been holding for over a year, the gains have lower taxes because of long term capital gains vs short term.
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