Welcome to $120,000 bitcoin! Is now a good time to buy bitcoin? Here are my thoughts

00:02 Welcome to $120,000
00:05 Bitcoin. Congrats. Um, so the question,
00:08 of course, everyone always has, is now a
00:10 good time to buy Bitcoin? Well, a couple
00:12 thoughts. One, it’s never a bad time to
00:14 buy Bitcoin. In the long term, Bitcoin
00:16 outperforms everything else, so it’s
00:18 never a bad time to buy Bitcoin. That
00:20 being said, a lot peop a lot of people
00:23 have an emotionally hard time buying an
00:25 investment and then having it go down in
00:28 value for any period of time, even if it
00:30 then quickly goes back in value. So,
00:32 what I recommend uh now that Bitcoin’s
00:35 above $120,000 is just set up a uh
00:38 what’s called dollar cost averaging,
00:41 DCA. If you want to learn about it, ask
00:43 Google, ask ChatGpt. It’s a very common
00:46 strategy in investing. It’s called
00:48 dollar cost averaging, DCA.
00:52 And what that means is you set up a
00:53 weekly recurring buy of the same amount
00:56 for every week. Maybe that’s $5 a week,
00:58 maybe it’s 10, maybe it’s a hundred,
00:60 maybe it’s a thousand. Um maybe if you
01:02 have a substantial amount of money
01:03 you’re trying to invest in Bitcoin, it’s
01:05 10,000 a week. Uh that’s the highest
01:07 I’ve ever heard someone dollar cost
01:09 averaging was one person was dollar cost
01:12 averaging $10,000 a week. So good for
01:14 them. Um, but it’s really whatever you
01:17 can afford. Uh, also it’s always a good
01:19 time to invest retirement funds in
01:21 Bitcoin because retirement funds are a
01:24 lot easier to just set it and forget it.
01:27 Uh, meaning you buy it and it’s just,
01:29 you know, you’re not going to worry
01:30 about it. Um, so if you have retirement
01:33 funds to invest in Bitcoin, I would
01:35 recommend for retirement funds, uh, lump
01:38 sum investing, which is just, you know,
01:40 if you have a set amount, go ahead and
01:42 buy Bitcoin with it and forget about it
01:43 for 10 or 20 years or however long until
01:46 you retire. Um, because again,
01:48 retirement funds, for retirement funds,
01:49 it just doesn’t matter if you buy
01:51 Bitcoin at 121,000 or 18,000 or 111,000.
01:56 None of that stuff matters in the long
01:57 term when it’s, you know, more than a
01:60 million dollars a coin 10 years from now
02:01 or hopefully a lot more than that beyond
02:03 that. It just none of that matters. Um,
02:06 so if you’re investing retirement funds,
02:08 I would just put in however much you can
02:10 as soon as possible. If you’re investing
02:13 non-retirement funds, meaning money that
02:15 you’re going to be painfully watching go
02:17 up and down every day, every week, then
02:19 I would again I would dollar cost
02:21 average, which is I would um buy as much
02:24 as you know you can afford to buy every
02:27 week and just put on river. You can set
02:28 it up with the recurring buy and you
02:30 don’t pay any fees after the first week.
02:32 So, I would just set it up for however
02:34 much you can afford and then just let it
02:36 run on autopilot uh indefinitely. Uh
02:39 that is the easiest way to not stress
02:42 out about the price of Bitcoin because
02:44 if the price is lower, you’re like, “Oh,
02:46 I’m getting Bitcoin on sale this week.”
02:48 If the price is higher, then you feel
02:49 good because all of your Bitcoin is up.
02:52 So, uh dollar cost averaging is just a
02:55 very good way. Um with Bitcoin now above
02:57 $120,000 per coin, dollar cost averaging
03:00 is a great way to not stress about
03:03 investing in Bitcoin. just put it on
03:05 autopilot for as much as you can afford
03:06 for, you know, just set it up
03:08 indefinitely and on uh River, which is
03:11 river.com, which I recommend, and I can
03:14 send you free Bitcoin on River if you
03:16 don’t have any. Just set it up on a
03:18 recurring buy. They call it a recurring
03:21 buy, which is their term for dollar cost
03:24 averaging. Um, so anyway, just set it up
03:26 on a recurring buy. And one second here,
03:30 I’ve got the wrong place plugged into my
03:32 GPS. Um, and there’s a bunch of road
03:35 work that’s making it ambiguous what I’m
03:38 allowed to do here. Um, anyway, uh, the,
03:40 uh, so anyway, set up a recurring buy on
03:43 River for as much as you can afford, for
03:44 as long as you can afford it. Again,
03:46 nothing I ever say is not tax, you know,
03:49 nothing I ever say is tax advice or
03:51 financial advice or accounting advice or
03:53 legal advice. So, none of this is
03:54 professional advice. This is just what I
03:57 recommend people do as a random friend
04:00 who’s trying to help people. So, uh, but
04:02 anyway, I think above $120,000 per coin,
04:05 the easiest thing is just to set up a
04:06 recurring buy on river and let it run
04:09 for as long as you can for as high a
04:10 level as you possibly can. And if you
04:12 have a substantial amount of
04:14 non-retirement funds that you really
04:16 want to invest in Bitcoin as soon as
04:18 possible, you could certainly take half
04:20 of those uh funds and invest them now in
04:22 Bitcoin and then put the rest of it on
04:25 sort of a recurring buy where over some
04:27 time frame uh you’ll have as much as you
04:30 want to invest. Uh, the only reason I’m
04:32 not saying for nonretirement funds to
04:35 just dump it all in and don’t worry
04:36 about it right now is, you know, anytime
04:39 Bitcoin runs as fast as it has between
04:42 111,000 up to 121, often it’s going to
04:46 go revisit some of those prices at some
04:48 point in the future. And people just get
04:50 stressed out when it does. So, if they
04:52 buy Bitcoin at 121 and then suddenly
04:54 it’s 117 and it’s 115 and it’s 112, they
04:58 stress out. they get the urge to panic
05:01 sell the Bitcoin they bought, which they
05:03 should not do in the long term. Again,
05:05 it’s a good investment regardless, but a
05:07 lot of people just uh don’t want that
05:09 stress of buying at 121 uh with a lump
05:13 sum.
05:14 Sorry, I drove through a dead spot. Uh
05:16 so, a lot of people don’t want the
05:17 stress of uh you know, of putting
05:20 everything they can afford into Bitcoin
05:21 all in one lump sum of $120,000 and then
05:25 they get all stressed out if it
05:26 temporarily trades below $120,000. So,
05:29 you can avoid a avoid that by setting up
05:32 a recurring buy and just buying the same
05:34 uh same amount every week. $100, $1,000,
05:37 $500, $5, whatever you can afford every
05:40 week, set it on autopilot, forget about
05:42 it, and uh accumulate Bitcoin that way.
05:45 And again, if you have retirement funds
05:47 that you can put in Bitcoin, I recommend
05:49 Fidelity. Uh with the uh Fidelity has
05:52 something called a Fidelity crypto
05:54 account, and you can set up a Fidelity
05:56 crypto account. you can move uh a Roth
05:59 IRA and you can set it up with Fidelity
06:02 Crypto for a Roth IRA, a standard IRA,
06:05 or a rollover IRA. And if you have an
06:08 old 401k that’s not with your current
06:10 employer, you can roll that into uh that
06:13 old 401k into a rollover IRA with
06:16 Fidelity Crypto and invest that in uh in
06:20 Bitcoin. So, uh, Fidelity Crypto, the
06:22 Fidelity Crypto accounts are the best
06:24 way to invest retirement funds in
06:26 Bitcoin. And if you’re investing
06:28 retirement funds in Bitcoin, I would
06:30 just dump in as much as you can, leave
06:32 it as long as possible and not worry
06:33 about it. Uh, there’s no I don’t see a
06:36 downside of buying Bitcoin at 120
06:38 plus,000 with retirement funds because
06:41 again, those are long-term funds and
06:42 people tend to not stress about them the
06:44 same way they do on non-retirement
06:47 funds. So, uh, just to recap, if you
06:50 have non-retirement funds, you’re
06:52 investing in Bitcoin, the easiest way to
06:54 do that is to dollar cost average by
06:56 buying the same amount every week. Uh,
06:58 if you have retirement funds, then I
07:01 would recommend just dumping in whatever
07:03 you feel good about in Bitcoin and just
07:05 forgetting about it. Um, anyway, hope
07:08 all that helps. Exciting.