I have not really a question, I just need to write if off a bit.
BTC is quite a big part of my net worth, and about half of that chunk is/was invested at Celsius. The last weeks I followed this sub actively, and was waiting till any news would came out before I would take any other actions. Now chapter 11 has been filed its time to now accept this new reality.
Part of dealing with tragic event is having a positive outlook on my financial situation. First of all some time ago I decided that traditional finance (in my case investing in a generic world wide ETF) should be a bigger part of my portfolio as well that I proactively invest in a retirement account. This should be the foundation of my net worth. Every month I invest a big part of my salary in those ETF funds.
However for my crypto part i've lost 50%, which still means a 25% loss of my total net worth. Because of the lower Bitcoin price I am thinking to reinvest a bit more to limit my loss in terms of BTC. Its terrible to lose Bitcoin, but it would hurt more to see it potential climb back up in the upcoming years.
Therefore I am thinking to
- Buy 50% of crypto stuck at celsius back, which is currently at a discount compared to my average price (I bought BTC around 46k). It would take me several months to buy this 50% back at current price levels.
- Hope that the remaining 50% will be recovered in the upcoming years by restructuring.
This would make me "whole" in terms of BTC; and in worst case scenario I still have 80% of my initial crypto. Best case scenario I get all my crypto back + I have even more because I rebought a big part of it again.
However, I would put some more money on the line because there is of course no certainty higher prices will be reached in the future. And my average price of Bitcoin will be growing to low 50k range.
What is your strategy to deal with this situation?
No comments:
Post a Comment