Bix Weir's Crypto/Silver protfolio allocation
Bix Weir has recently said that you should put 10% in to physical Silver everytime your Crypto's double. Which I believe is pretty sound advice that I'm going to start adopting. I love the world of Crypto's and the options to use money in ways I've never used before but you still can't hold it in your hand. I was enamored with my first silver coin, Though I remember feeling like I just sent an email not a banking transaction the first time I used shapeshift (ahhh the old days). I love the profits in Crypto's and sometimes it really sucks being a Stacker but silver will have it's day. My new money in is about 50/50, silver this week under $17 is a buy! Provident Metals accepts BTC so you don't even need to sell.
Vote, Comment, Resteem....Thanks
Thank you for the comment on Provident Metals, that was a surprise. I found your post because I was looking for posts on diversification. The cryptocurrencies have been so explosive this year that play money accounts of a couple of hundred bucks have turned into thousands and you start wondering how much of your net worth you should let this become. Its a classic greed vs fear problem and i do best to look for rules like the one you described to take the emotion out of it. I have a target of 5% in my mind then periodically re-balance into other assets classes. So crypto becomes an earning engine. That said I really like Steemit because my $ investment in it is quite small, but I can get it to grow from my own efforts. That never happened with stocks.
The Crypto's have been amazing but silver is still low, it's always good to diversify
Thought you would be interested in this article on Mike Maloney doing the same thing. Mike is Precious Metals guy, so its no surprise he says he is buying silver, but I think the fact that he is holding and promoting bitcoin as a chaos hedge in addition to gold and silver is quite interesting for guys who are traditionally all about physical metal being the only hedge against fiat currency.
https://goldsilver.com/blog/im-selling-some-bitcoin-for-silver-bullion/?utm_source=Newsletter+and+Promos&utm_campaign=69131d1ba4-2017-06-20-Video-Bitcoin&utm_medium=email&utm_term=0_a3f07150e9-69131d1ba4-122053857&mc_cid=69131d1ba4&mc_eid=00209229b3
Sounds like a great strategy. Bix is a curious but wise character. Kudos to anyone who fully understands how to buy and convert crypto-anything, not sure I'll ever get it! I still read about conversion fees so I don't yet understand how it differs in that respect. I will keep following the likes of Bix until the process sinks through my thick noggin! Thanks for sharing @immetal6669
Provident Metals accepts BTC so you don't even need to sell.