Opinions needed, nostr!
I got a HELOC on my home many months ago. I didn’t pull any liquidity but just opened up the credit line.
I did it for instances like this. I’m thinking it’s time to drain it and smash buy Bitcoin. I left it open ended so that I could wait for a dip. This feels like the opportunity.
Am I acting prematurely? I definitely feel like this window won’t last long with stimulus and QE ahead. I think it’s a good price to buy and hold forever.
Just a few quick additional notes:
1) I don’t need lectured about leverage. The full payment on my HELOC if maxed represents around 5% of my monthly income. I’d be sufficiently solvent
2) I still have a daily DCA in place and stack hard.
3) I have a healthy stack and could liquidate in a dooms day scenario.
Should I smash buy?
Replies (5)
Two things I'm thinking:
1. Nobody knows what the price is going to do short term.
2. Everybody is different and biased. Make your own decisions.
I am making my own decisions, but having a conversation and dialogue is what social media is all about.
Just thought it was an interesting topic to discuss. I’m definitely smash buying the Bitcoin regardless. 🤷🏻♂️
I'm now having a discussion about not having a discussion 😂
I didn't mean to stop the flow, but if you're already taken out a line of credit, it sounds like you've already made the decision, the only question you're really asking is when?
Perhaps my years of experience have taught me genuinely nobody knows what's going to happen. It's only taken me 9 years to realise that.😂
I took out a low interest personal LOC to stack. No difference between taking out LOC to start a business, purchase a home, etc. if you can manage the interest payments, I personally think it’s a wise way to use leverage. The wealthy been doing this for the last century except for real estate or stock market. Borrow cheap money to buy appreciating assets, let those appreciating assets pay the loan in the long run while you’re making the monthly payments
Sounds like you’d be covered with your monthly income. If you can still sleep at night, I’d do it.
