Becoming rich by investing in Bitcoin and cryptocurrency; that is the dream that entices most of us to join this market. Being able to pay off your debt, finally get ahead in life, and begin thinking about being able to retire. The amazing fact is that all of these are possible with Bitcoin and more. Experts in the market have long predicted that cryptocurrency will cause the largest transfer of wealth that the world has ever seen, and those of us currently investing will reap the rewards of it. I’m a firm believer that eventually that will be true. But there is also no denying that this market isn’t for everyone. The stress, volatility, and patience that is required to make it in this market can be so difficult that most people will exit the market long before finding success.
What sets Bitcoiners apart from other investors are their morals and investing standards. You should own Bitcoin if you match the following factors.
1. Wanting To Preserve Wealth From Inflation
The greatest crime in our lifetime is our wealth slowly being inflated away right in front of our eyes. Since Covid, that slow decline has become rapid. Over the last 100 years, the dollar’s value has dropped by 99% and doesn’t seem to be stopping anytime soon. There used to be a time when all a person had to do to become successful was to work hard and save their extra cash. Since their money maintained value much better before the fiat system, regular people didn’t need to worry about how to invest their money to be able to retire.
However, as time went on and the US shifted toward the fiat system. Everyone had to become an investor to have any chance at being able to retire. Bitcoin has a hard max limit of 21 million Bitcoins. The inflation rate is set in stone and is cut in half with each Bitcoin halving. If Bitcoin is successful, it will be a throwback to old currencies that maintained value. All you will need to do is work hard and save your money in Bitcoin. Needing to invest to survive will be a thing of the past.
2. Wanting A Currency Only You Can Control
Something that we have learned very well throughout the last few years is that money in the bank isn’t yours anymore. Accounts can be frozen, and transactions can be rejected. Banks can also become insolvent. Another factor is what country you live in. Owning dollars can be banned, or restricted. Or the US can even place sanctions on you and have your assets seized.
The only asset that is safe from this is Bitcoin. When taken into self-custody properly; it can be nearly impossible to take your funds. You can send your coins to whoever you want, whenever you want. No one needs to approve your transaction. It is true freedom.
3. Long-Term Approach
Bitcoin presents the opportunity to obtain great wealth in the future, but it likely won’t happen within the next year. Having a long-term approach is needed to survive in this market. This will allow us to not need to worry about daily price fluctuations. Especially during bear markets when we witnessed the value of our portfolio drop by over 70%. Always remembering, “When in doubt, just zoom out.”
4. Restraint
To make it as a Bitcoiner, you need to have extreme restraint. Not selling when prices are down so badly that they make you want to scream. But also not selling when you begin to feel euphoric as prices are going parabolic.
People who sold at the peak in 2017 as Bitcoin reached $20k likely had large regrets when they saw the price go up to $69k. But that will pale in comparison when they see Bitcoin go to $1 million in a few years. It is always a good idea to take profits. However, selling way too early on an asset that has yet to hit its prime, is a mistake that you’ll regret forever.
5. FUD Doesn’t Affect You
It’s hard to be a Bitcoiner. At times it seems like we are a punching bag that is getting hit by Mike Tyson daily. Each day we wake up to news about countries wanting to ban Bitcoin, politicians FUDing it and the list goes on.
It can become so extreme that it can affect your conviction in the asset and lead you to want to sell. That is why it is so important to heavily research the project, and build your own opinions and beliefs that cannot be shaken. That is when you will have reached Bitcoin Zen, and the FUD will not affect you as much.
6. Responsible Investor
The hard truth is that investing in Bitcoin can become addicting. Perhaps it is due to the number going up, collecting aspects of it, or it being money. People will often invest far more than they can afford to lose in this market. Some will amplify that risk even more by taking on debt to buy or use leverage.
The famous phrase, “Only invest what you can afford to lose.” is critically important when investing in Bitcoin. It can truly be the difference between being crushed by the market or surviving long enough to become successful.
7. Wanting to Change the World
Finally, the last reason you should own Bitcoin is if you are wanting to change the world. While most people come to the crypto market only hoping to make great profits. The people who are “real” Bitcoiners are those who are here for the tech. Hoping to fix money, which will change the world.
It is this hope that allows us to fight through the FUD, price volatility, and stress of the market. We are here fighting for a greater purpose.
These are just a few of the reasons why you should own Bitcoin. The market isn’t for everyone. But if you can handle the daily stresses of the market, it will be life-changing for you.
How about you? Why do you own Bitcoin?
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As always, thank you for reading!
