The Dangers of "Taking Profits" On Your Bitcoin
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In this video, I discuss the dangers of "taking profits" on your Bitcoin.
Converting a really strong asset into a weaker asset is never a good idea-- and it's an especially bad idea against the backdrop of high inflation.
If you put your investment profits into a bank, your money can be frozen or hair-cut as part of a bank bail-in.
If you invest your profits in any asset that doesn't keep up with the high inflation, you risk once again losing some or all of your purchasing power.
Even buying hard assets like a house can be a mistake, due to the high maintenance and replacement costs that come with high inflation.
The whole idea of even wanting to "take profits" demonstrates that someone is still trapped in a fiat mindset.
Learn to value your wealth in Bitcoin.
Not investment advice! Consult a financial advisor.
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• What Is Bitcoin's Ultimate Price Target?
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Disclaimer
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