This is actually what I'm doing.
But I will probably start cashing out 1/3 of my coins at $200 in the short(er) term, whenever it gets back up there, and hold the others for a very long time (years).
I actually cashed out a little into gold, but gold is a HORRIBLE investment, at least in Massachusetts where I live. First, it is always taxed as a short-term gain, so that means 28% tax (my tax bracket) PLUS 12% state tax (MA short term capital gains). Also gold is in a bubble right now and has been dropping. Finally, coinabul charges you about 8% over spot for gold so you lose money right off the bat.
The only reason to buy gold is if you expect it to help you evade taxes (it won't).
Aren't Bitcoins taxed at 40% as capital gains when you try to cash them out? That would be higher than gold.
No, hold them for a year and pay long term capital gains. In MA, that is 15% plus ~5% state, or 20%.
And short term capital gains is the same for both gold and bitcoins. Gold is worse because it is always considered a short term gain.