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RE: I realized that most of my net worth is in crypto - Rich in crypto, poor IRL
Wow - apart from the mining part, which I don't do (yet?), I'm in an almost identical situation, wrestling with the same issue. I've got an entirely green portfolio, and while I have pulled out my initial investment in more than half of them over the years, the profit sitting there...well, it would solve a few immediate issues, let's put it that way! And yet... I'm a natural HODLer ;-) And we can't have it both ways. Or at least I can't. At least not yet...
Upvoted and followed ;-)
It's been such an amazing journey, it's better than any hollywood movie. No matter how much you put in or own really...
And yes, just gotta HODL that crypto. At LEAST another couple of years. Maybe cash out 5% here and there, eventually. One day. Maybe? ;)
Thanks so much for the vote and follow! I see you write about crypto too: Following right back!
I must admit I don't really agree with this sentiment at all. "Hold some" makes a lot more sense to me personally.
I most definitely wouldn't cash out of cryptocurrencies completely, but if you have an unforeseen expense, I think it's much wiser to sell enough of your cryptocurrencies to cover it than to put it on your credit card or eat only ramen for a month.
Oh yes, I didn't mean it that seriously. It's fine if people cash out, but for my situation and if you're dreaming of the moon then real hardcore hodling is necessary. 100x gains won't get you to the moon on a small investment, you may need 1000x gains to get there, after all. If you only 'hodl some' you may need even more to get there.