> If you buy anything at $X with intention of "hodling" it to increase it's value, unless you have a plan (i.e. I will sell at $Y) then you are just holding on to nothing.
I don't think that's holding on to nothing just because there's no exit plan in place.
If I invest 30k in index funds that are managed by my bank, with the expectation that the value will rise and thus beat inflation, i wouldn't say that I'm holding on to nothing.
Similarly, if the value would rise to 35k over time, but something (like an economical crash, or any reason) would have me withdraw my money before that, I think it would be fair to say that my actions made me miss out on the total value of 35k.
I don't see how the case of Bitcoin is that much different - most people won't have sold at its highest point, but the average value has indeed increased bunches compared to when it was not popular.
I don't think you always need an exit strategy for every investment you make - wanting to diversify and perhaps beat the inflation seem like valid goals, regardless of whether you're putting money in index funds, are buying BTC, or are burying pots of gold in your back yard.
Volatility and risks are probably another story, though.
I don't think that's holding on to nothing just because there's no exit plan in place.
If I invest 30k in index funds that are managed by my bank, with the expectation that the value will rise and thus beat inflation, i wouldn't say that I'm holding on to nothing.
Similarly, if the value would rise to 35k over time, but something (like an economical crash, or any reason) would have me withdraw my money before that, I think it would be fair to say that my actions made me miss out on the total value of 35k.
I don't see how the case of Bitcoin is that much different - most people won't have sold at its highest point, but the average value has indeed increased bunches compared to when it was not popular.
I don't think you always need an exit strategy for every investment you make - wanting to diversify and perhaps beat the inflation seem like valid goals, regardless of whether you're putting money in index funds, are buying BTC, or are burying pots of gold in your back yard.
Volatility and risks are probably another story, though.