Curious about this and it has me concerned. Yes, I am thankful these days we are in the green. Yes, I am thankful I have made more money than probably all of my friends who put money into GME. But now I need to know soon what the hell to do with that money.
I've already been looking at Bitcoin tax calculators. You need to realize that if you were to make 150k profit, and you cash it out the same year, there goes 30k in taxes.
I don't want to even go into that here though. My question is let's just say one has a $100k profit. Do I take the profit out, and diversify into more alt coins? Should I diversify into other stocks that are more stable like a savings bond? Should I contact a financial advisor? Stay strong into Eth or BTC and pray for a 1 Mil BTC in 3 years?
I realize that if one takes a $100k profit, it is still a taxable event if you put it into other coins. Long term hodling seems to be the advantage since it brings the tax-rate down considerably. (After a year)
What would you do with a $100k in the crypto market? I tend to hate stocks. I'm only invested in one or two with a very small amount. I plan on staying in the crypto market and just diversifying more of my assets.
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