Over lunch, hallway, or passing I hear the same conversation again and again, which is:
“How much Bitcoin do you have?”
“$4230.00 why?”
How wrong is that? Very. You don’t have $4230, you have 0.423 BTC (assuming 1BTC=$10k)! And that’s what I think people get wrong about Bitcoin and investing in BTC. People tend to think about BTC in terms of its value against the US dollar and do not get over that. Which hinders their ability to build a real cryptocurrency portfolio. With the massive fluctuation of BTC to USD value, people are riding lows and highs and become emotional. Which means they make emotional decisions. Sell too early, to late or don’t buy at all.
I believe very strongly in the future of Bitcoin and think that if you do not have a large percent of your crypto portfolio in BTC you are crazy. Which is why thinking in USD is wrong. Once you shift your thought process to think of BTC in terms of what it is, you will likely start making better decisions and ways to increase your portfolio.
Easier said than done right?
For me it was persistence and trading. I started trading on Binance and focused on a few specific coins and how they were being traded against BTC. I slowly began to see those coins for their value in BTC not USD. It took time, but in the end I was making smarter trades and began to grow my BTC portfolio. Of course in the end I hope to profit in USD from my BTC. But, like everyone else I’m holding.
If you find this useful and want to try Bimance, let me know by clapping or using my referral link.
www.binance.com/?ref=12889093
