Welcome to $120,000 bitcoin! Is now a good time to buy bitcoin? Here are my thoughts

00:02 Welcome to $120,000 00:05 Bitcoin. Congrats. Um, so the question, 00:08 of course, everyone always has, is now a 00:10 good time to buy Bitcoin? Well, a couple 00:12 thoughts. One, it's never a bad time to 00:14 buy Bitcoin. In the long term, Bitcoin 00:16 outperforms everything else, so it's 00:18 never a bad time to buy Bitcoin. That 00:20 being said, a lot peop a lot of people 00:23 have an emotionally hard time buying an 00:25 investment and then having it go down in 00:28 value for any period of time, even if it 00:30 then quickly goes back in value. So, 00:32 what I recommend uh now that Bitcoin's 00:35 above $120,000 is just set up a uh 00:38 what's called dollar cost averaging, 00:41 DCA. If you want to learn about it, ask 00:43 Google, ask ChatGpt. It's a very common 00:46 strategy in investing. It's called 00:48 dollar cost averaging, DCA. 00:52 And what that means is you set up a 00:53 weekly recurring buy of the same amount 00:56 for every week. Maybe that's $5 a week, 00:58 maybe it's 10, maybe it's a hundred, 00:60 maybe it's a thousand. Um maybe if you 01:02 have a substantial amount of money 01:03 you're trying to invest in Bitcoin, it's 01:05 10,000 a week. Uh that's the highest 01:07 I've ever heard someone dollar cost 01:09 averaging was one person was dollar cost 01:12 averaging $10,000 a week. So good for 01:14 them. Um, but it's really whatever you 01:17 can afford. Uh, also it's always a good 01:19 time to invest retirement funds in 01:21 Bitcoin because retirement funds are a 01:24 lot easier to just set it and forget it. 01:27 Uh, meaning you buy it and it's just, 01:29 you know, you're not going to worry 01:30 about it. Um, so if you have retirement 01:33 funds to invest in Bitcoin, I would 01:35 recommend for retirement funds, uh, lump 01:38 sum investing, which is just, you know, 01:40 if you have a set amount, go ahead and 01:42 buy Bitcoin with it and forget about it 01:43 for 10 or 20 years or however long until 01:46 you retire. Um, because again, 01:48 retirement funds, for retirement funds, 01:49 it just doesn't matter if you buy 01:51 Bitcoin at 121,000 or 18,000 or 111,000. 01:56 None of that stuff matters in the long 01:57 term when it's, you know, more than a 01:60 million dollars a coin 10 years from now 02:01 or hopefully a lot more than that beyond 02:03 that. It just none of that matters. Um, 02:06 so if you're investing retirement funds, 02:08 I would just put in however much you can 02:10 as soon as possible. If you're investing 02:13 non-retirement funds, meaning money that 02:15 you're going to be painfully watching go 02:17 up and down every day, every week, then 02:19 I would again I would dollar cost 02:21 average, which is I would um buy as much 02:24 as you know you can afford to buy every 02:27 week and just put on river. You can set 02:28 it up with the recurring buy and you 02:30 don't pay any fees after the first week. 02:32 So, I would just set it up for however 02:34 much you can afford and then just let it 02:36 run on autopilot uh indefinitely. Uh 02:39 that is the easiest way to not stress 02:42 out about the price of Bitcoin because 02:44 if the price is lower, you're like, "Oh, 02:46 I'm getting Bitcoin on sale this week." 02:48 If the price is higher, then you feel 02:49 good because all of your Bitcoin is up. 02:52 So, uh dollar cost averaging is just a 02:55 very good way. Um with Bitcoin now above 02:57 $120,000 per coin, dollar cost averaging 03:00 is a great way to not stress about 03:03 investing in Bitcoin. just put it on 03:05 autopilot for as much as you can afford 03:06 for, you know, just set it up 03:08 indefinitely and on uh River, which is 03:11 river.com, which I recommend, and I can 03:14 send you free Bitcoin on River if you 03:16 don't have any. Just set it up on a 03:18 recurring buy. They call it a recurring 03:21 buy, which is their term for dollar cost 03:24 averaging. Um, so anyway, just set it up 03:26 on a recurring buy. And one second here, 03:30 I've got the wrong place plugged into my 03:32 GPS. Um, and there's a bunch of road 03:35 work that's making it ambiguous what I'm 03:38 allowed to do here. Um, anyway, uh, the, 03:40 uh, so anyway, set up a recurring buy on 03:43 River for as much as you can afford, for 03:44 as long as you can afford it. Again, 03:46 nothing I ever say is not tax, you know, 03:49 nothing I ever say is tax advice or 03:51 financial advice or accounting advice or 03:53 legal advice. So, none of this is 03:54 professional advice. This is just what I 03:57 recommend people do as a random friend 04:00 who's trying to help people. So, uh, but 04:02 anyway, I think above $120,000 per coin, 04:05 the easiest thing is just to set up a 04:06 recurring buy on river and let it run 04:09 for as long as you can for as high a 04:10 level as you possibly can. And if you 04:12 have a substantial amount of 04:14 non-retirement funds that you really 04:16 want to invest in Bitcoin as soon as 04:18 possible, you could certainly take half 04:20 of those uh funds and invest them now in 04:22 Bitcoin and then put the rest of it on 04:25 sort of a recurring buy where over some 04:27 time frame uh you'll have as much as you 04:30 want to invest. Uh, the only reason I'm 04:32 not saying for nonretirement funds to 04:35 just dump it all in and don't worry 04:36 about it right now is, you know, anytime 04:39 Bitcoin runs as fast as it has between 04:42 111,000 up to 121, often it's going to 04:46 go revisit some of those prices at some 04:48 point in the future. And people just get 04:50 stressed out when it does. So, if they 04:52 buy Bitcoin at 121 and then suddenly 04:54 it's 117 and it's 115 and it's 112, they 04:58 stress out. they get the urge to panic 05:01 sell the Bitcoin they bought, which they 05:03 should not do in the long term. Again, 05:05 it's a good investment regardless, but a 05:07 lot of people just uh don't want that 05:09 stress of buying at 121 uh with a lump 05:13 sum. 05:14 Sorry, I drove through a dead spot. Uh 05:16 so, a lot of people don't want the 05:17 stress of uh you know, of putting 05:20 everything they can afford into Bitcoin 05:21 all in one lump sum of $120,000 and then 05:25 they get all stressed out if it 05:26 temporarily trades below $120,000. So, 05:29 you can avoid a avoid that by setting up 05:32 a recurring buy and just buying the same 05:34 uh same amount every week. $100, $1,000, 05:37 $500, $5, whatever you can afford every 05:40 week, set it on autopilot, forget about 05:42 it, and uh accumulate Bitcoin that way. 05:45 And again, if you have retirement funds 05:47 that you can put in Bitcoin, I recommend 05:49 Fidelity. Uh with the uh Fidelity has 05:52 something called a Fidelity crypto 05:54 account, and you can set up a Fidelity 05:56 crypto account. you can move uh a Roth 05:59 IRA and you can set it up with Fidelity 06:02 Crypto for a Roth IRA, a standard IRA, 06:05 or a rollover IRA. And if you have an 06:08 old 401k that's not with your current 06:10 employer, you can roll that into uh that 06:13 old 401k into a rollover IRA with 06:16 Fidelity Crypto and invest that in uh in 06:20 Bitcoin. So, uh, Fidelity Crypto, the 06:22 Fidelity Crypto accounts are the best 06:24 way to invest retirement funds in 06:26 Bitcoin. And if you're investing 06:28 retirement funds in Bitcoin, I would 06:30 just dump in as much as you can, leave 06:32 it as long as possible and not worry 06:33 about it. Uh, there's no I don't see a 06:36 downside of buying Bitcoin at 120 06:38 plus,000 with retirement funds because 06:41 again, those are long-term funds and 06:42 people tend to not stress about them the 06:44 same way they do on non-retirement 06:47 funds. So, uh, just to recap, if you 06:50 have non-retirement funds, you're 06:52 investing in Bitcoin, the easiest way to 06:54 do that is to dollar cost average by 06:56 buying the same amount every week. Uh, 06:58 if you have retirement funds, then I 07:01 would recommend just dumping in whatever 07:03 you feel good about in Bitcoin and just 07:05 forgetting about it. Um, anyway, hope 07:08 all that helps. Exciting.