There is one thing that Bitcoiners know far better than nearly anyone else in the financial world. Extreme pain. The truth is that investing in Bitcoin will be one of the most stressful and mentally challenging experiences that you ever go through. Many enter the market, but few survive long enough to reap the rewards.
On a daily basis, there is constant FUD that’s main goal is to shake your conviction in the asset that you decided will be the next big thing in the future. If the FUD wasn’t enough to drive you away from the market, then the bear cycles usually do the trick. With Bitcoin dropping by 70% from its 2021 all-time high, and other cryptocurrencies dropping up to 99%. It is these two factors in combination that cause most people to leave this market running.
With all of that said, there are a select few of us whose conviction in the future of Bitcoin, and Ethereum cannot be shaken. We’ve put in the research, and our eyes have been opened to how this world really operates. The game of money is rigged against us, and most people are destined to fail.
However, Bitcoin, Ethereum, and the other top crypto projects have changed everything. It gave power back to the people and helped them not only preserve their wealth from being inflated away but also find new ways to earn a passive income. Perhaps most of all, regular people were able to front-run the largest companies on Wall Street. Many financial experts are predicting that cryptocurrency will cause the largest transfer of wealth that the world has seen in recent memory.
The idea of people actually being rewarded for saving their money in these assets is still a foreign idea for most. The truth is that we live in a consumerism society. People have unquenchable wants, and cannot stop buying. Saving money, or even planning for retirement is an afterthought for many people.
Bitcoiners are different. The longer that you have been investing in Bitcoin, the more likely you have become very frugal with your spending. Each time you are thinking about going out to dinner or buying that item you’ve been wanting for a while; you remember how much Bitcoin you could buy with it.
For example, during the March 2020 Covid crash, Bitcoin’s price dropped by nearly 50% in 24 hours. Dropping all the way down to nearly $3,500. If you would have spent only $100 on Bitcoin then instead of using it on anything else. That $100 would now be worth over $900.
The reason why Bitcoiners become excellent at budgeting and frugal spenders is that they are fully aware of how much Bitcoin will be worth in the future. Let’s imagine for a moment that Bitcoin does eventually reach that magical price level of $1 million per coin, If that happens, 0.01 BTC bought today at $310, would be worth $10,000.
That is why people are trying to accumulate as much Bitcoin as they possibly can. Even if that means that they need to sacrifice their wants for the short-term, for a better future. Whether that means becoming an extremely frugal spender. Or maybe finding a side gig or extra part-time job. Those who sacrifice today will be rewarded in the future.
How about you? Are you sacrificing today to accumulate more Bitcoin?
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