Read Post
Wed, 13 Nov 2024 11:38:09 -0800
Blee from private IP, post #18161879
👍 ❤️
/all
I bought ten bitcoin in 2017
Total investment $18,000. I bought GBTC back then, an early bitcoin trust, and converted to a lower cost ETF once they were approved. I've held this whole time,
and it's getting close to being real, life changing money. It's in a tax sheltered account, an initially small rollover IRA, and I can't pull it out for another
few years. My wife, and now y'all are the only people I've ever told. Aren't you special?
Wed, 13 Nov 2024 11:48:00 -0800
Andy from private IP
Reply #15900946
👍 So you have $900k on paper? Awesome! I hope you cash it out early, because nobody knows what the future holds.
That's why I live for today.
Wed, 13 Nov 2024 11:54:42 -0800
Blee from private IP
Reply #13114384
👍 Currently it's about $870K. The fees for the trust were absurd, 2% a year, so I lost a decent bit of it in the
early days. Still, no complaints. And it's tough, I mean I thought of cashing out when I doubled my investment, but then I decided to just go along for the ride
since it was such a small amount of money. I don't think I have the nerve to hang on much longer though.
Wed, 13 Nov 2024 18:10:34 -0800
whiteguyinchina from private IP
Reply #17181166
Nice blee
I am a pussy when it comes to investing so have no such windfall
What are you going to do with it?
Thu, 14 Nov 2024 07:28:35 -0800
Blee from private IP
Reply #12813972
Talk about dumb luck, other than the Bitcoin my portfolio is incredibly boring and conservative. But a decade ago I
had a small rollover IRA from a former job, and figured I'd use that as a playpen. Over 90% of what I had was in index funds, so what the hell? I played around
with penny stocks and other stupid things, and when that wasn't really working out, I just dumped the 18K into Bitcoin. And the rest is history.
I'm just going to use it to fund retiring a little earlier. I haven't paid taxes on the gains, so I'm just going to treat it like the rest of my 401K and IRA's
when I retire. Man I wish I had done a Roth conversation back then.
Fri, 03 Jan 2025 08:36:41 -0800
smollaw from private IP
Reply #19791776
congrats. since it's in an IRA your drawdown timeline is fixed barring an emergency and incurring penalties.
@18161879 Andy ❤️ @15900946 174.169.48.9 👍 @13114384 Andy 👍 @18161879 2tierreality 👍
Replies require login.
