Something I have long been thinking about is just when will I have enough cryptocurrency!? What would it take for me to stop buying? Or will I ever stop buying?
I think these are all questions that anyone who is investing in crypto should at least think about and better yet; have the answer for it as well. If you have followed me for any duration of time you will probably know that I’m a big believer of having a plan. Not only will that help to give you a purpose, but it will also significantly help you to achieve your goals. How you will do it, when you hope to achieve it by, and what will you do when you achieve it. All important things.
But as I mentioned before, what would it take for me to stop buying cryptocurrency? For many people maybe it would be the price of the coins plummeting down. But in that situation I would definitely be buying as much bitcoin and ethereum as humanly possible, just as I was doing when the price dropped in March of this year. So a price drop would have no effect on me.
Another possible option is that I could possibly lose interest in the market? I am an avid investor, and currently my biggest area of passion is cryptocurrency. Perhaps in the future there could be a market or asset class that I find where I feel the potential growth is even higher than that of the cryptocurrency markets.
While this definitely is a possibility, I just don’t see that happening. I have full confidence and belief in the future of bitcoin and some of the other prominent coins such as ethereum. I have the firm belief that the crypto market will be the biggest chance to make substantial wealth in our lifetime. So again, I don’t this option is a real possibility as well. As long as I’m trying to grow my wealth and portfolio; I think that I will most likely be investing into crypto as well.
What if I was able to make enough portfolio wealth, or grow my crypto passive income to a point where I no longer needed to actively invest to grow my wealth and focus on retirement. I truly feel that this is the most likely scenario to happen. If the crypto markets continue in the direction that I fully expect them to; this could be a real possibility. If you have followed me for awhile you will know that my goal is to retire early. I aim to do this by of course having the overall value of my portfolio increasing, but also by creating my monthly passive income amount to a point where it surpasses my current salary by a substantial amount and would be enough to live on. As the price of bitcoin and ethereum increases this makes this goal become even closer and easier to achieve. Recently I have gone heavy into crypto lending and while right now I’m only making around $300+ a month. After the peak of the bull run this could look a lot different. My goal is to reach at the very least $10,000 per month passively, so I have quite a long ways to go.
So in conclusion, I don’t really see myself ever fully stopping investing into crypto; but if I were to make a substantial amount of money and then retire I would probably just not invest quite as aggressively as I am currently. Especially while I still find this market so exciting and interesting.
But what would it take for you to stop investing into crypto!? Perhaps the price dropping, making a ton of money, or perhaps something else!?
As always, thank you for reading!