Bitcoin vs Mortgage

[alyssa85]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

Pay the mortgage off and be done - that way you never have to worry about your shelter again. The peace of mind is literally priceless.

With the money you free up from no longer making monthly payments - reinvest that into bitcoin. That way, you'll rebuild your stash AND have a home free and clear.

[xPPx]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

Don't make the mistake of selling BTC, specially at such a low entry point. At $250/coin you can take a lot of punishment and still be safe in the profit zone so you shouldn't panic sell. Forget about this money and look 5 years from now, then forget 5 more years and then you will be retiring.

Wageslaving sucks but you owe that money, keep paying it with your wage, if you dump your BTC then you will not have the realistic hope of getting rich in the next decade. You got to have some investments in your portfolio for the long term.

Read what the guy is posting:

I'm retired and made weekly payments for years.

He is already retired. You want him to wait for 5 years and then another 5 years?
I don't want to sound that grim but the reality is he might not be able to wait another 10 years for anything.

Thanks guys, but I'm retired Air Force and not even 40 yet. I'll keep paying the mortgage in USD and checking BTC/USD every morning. However, I'll pay it off in full with BTC as soon as it takes 5% or heaven forbid 50% of my coin. Hopefully not the latter.

[bifle]

My economy teacher always told me that "your debt is your wealth".

Stay in debt & keep making profit from your bitcoin.

[CoinsCoinsEverywhere]

I think you need to decide on how you're going to view your bitcoin.  If you bought some just to try to make some money off of it, then maybe sell at least part of it and pay down/off your mortgage.  As others have said, the peace of mind is worth it.  On the other hand, if you're looking at your bitcoin as a longer term investment that you believe will be worth a lot more in the future, then treat it as such and leave it alone for now.

[DeathAngel]

I would suggest to pay off your mortgage, you would still have a really good number of coins for future price rises. It would be really good to have no mortgage & bitcoin would have done that for you.

[CoinsCoinsEverywhere]

You may also want to consider selling just enough bitcoin to cover your initial investment (or maybe just a little more than that so that you know that you've banked a little profit).  That way, no matter what happens, you know you're not going to lose money.  That kind of peace of mind can help a lot with making more rational decisions about how you treat the rest of your investment.

[PPleaseman]

i aggree with my previous poster. Sell off a quarter or half of yout investment and try to pay off your mortgage. Dont but all your eggs in bitcoin, what if it crashes.

[xPPx]

My initial investment was $25,000 for 100BTC, so if BTC plummets to $500, I'm out. Conversely, if BTC hits $10,000 I'm paying off my mortgage with 5BTC and HODLing the rest. Again, thanks for the info, guys!

[ssuchy]

My initial investment was $25,000 for 100BTC, so if BTC plummets to $500, I'm out. Conversely, if BTC hits $10,000 I'm paying off my mortgage with 5BTC and HODLing the rest. Again, thanks for the info, guys!

The fact is that Bitcoin can not be predicted in advance, although there are still forecasts for huge growth. Even if Bitcoin drops to $ 500, even then it will be followed by active growth and it is possible to reach these very $ 10,000 or even more.

[panju1]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

If you have no problems in paying capital gains tax or in disclosing your identity to exchanges and the government while selling your coins, you should pay off the mortgage. You still stand to benefit from your other Bitcoin holdings if the price goes up. And you become debt free. That is a nice position.

[xPPx]

That's also another option. My outrageous NY school/city/county taxes will be used as deductions, so I'm not really tripping about going incognegro moving my coins. If I move them, I'll ca$hout a cunthair under my deductions.👌🏽

[Wilhelm]

Three options + 1 bonus option

The Safe Path
Pay off now and be done with it.

The HODL Path
Wait until 2020 and pay off the mortgage (chance BTC will be lower).

The Phase out path (RECOMMENDED)
Every month pay off the mortgage with a fixed amount of BTC (let's say 0.2BTC) until finished.
Recommended because you get an average sell rate. BTC is generally on the rise.

The YOLO Path
Wait until 2040 or later and buy the whole friggin' bank and crash a few Veyrons for fun while you're at it.   (or end up a bum under a bridge telling old stories about owning BTC)

[Samarkand]

My initial investment was $25,000 for 100BTC, so if BTC plummets to $500, I'm out. Conversely, if BTC hits $10,000 I'm paying off my mortgage with 5BTC and HODLing the rest. Again, thanks for the info, guys!

The correct answer for your personal situation depends heavily on your jurisdiction
and especially the terms of your mortgage provider. There may be obstacles that
you currently don´t see at all, like penalties for early repayment of your outstanding mortgage
or other legal issues.

In my country there are several mortgage providers where you aren´t allowed to
repay your mortgage before completion of a fixed time-length.

[Wilhelm]

My initial investment was $25,000 for 100BTC, so if BTC plummets to $500, I'm out. Conversely, if BTC hits $10,000 I'm paying off my mortgage with 5BTC and HODLing the rest. Again, thanks for the info, guys!

The correct answer for your personal situation depends heavily on your jurisdiction
and especially the terms of your mortgage provider. There may be obstacles that
you currently don´t see at all, like penalties for early repayment of your outstanding mortgage
or other legal issues.

In my country there are several mortgage providers where you aren´t allowed to
repay your mortgage before completion of a fixed time-length.

Where I come from there are also penalties on early repayment unless you pay off the full sum and terminate the mortgage all together.
But yes having a financial expert look into your specific situation is advisable.

[orions.belt19]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

The sane decision would be to get rid of your mortgage. After all you made a good profit either way.

Nonetheless I'm convinced that BTC still has a great future ahead, so I'd probably try to find a middle ground by selling only part of my coins. For what it's worth keeping even just 1 or 2 BTC may be worth a little fortune at one point.

Either way, you gotta figure out what works best for you, both financially and mentally. If you're financially stable and know that you can handle another 50% drop without feeling the urge to panic sell, hodling may be preferable. If you're just barely able to pay your mortgage and even the thought of the next drop makes you uneasy you should probably sell some.

Having a debt that huge is overwhelming and to wait for several years before fully paying it off would be such a headache. I would have a hard time sleeping at night knowing that I have a debt and that I'd have to pay for years to come. So that you'd have your peace of mind, I think its worth to already pay off that debt.

I agree that it would seem like a waste to throw that 15BTC but in fairness, you've already profited from it. To be able to hold it that long is already amazing and surely, it has accrued since then. As a firm believer that future is bright for Bitcoin, keeping 1BTC or 2 would be ideal for long term investment.

[Xampeuu]

As long as we are confident with decisions we make, taking mortgage and investing in btc isn't wrong thing. The most important is to learn the risks that will occur in the future.

[JL421]

If you think you will be able to manage then why sell bitcoins for it you did buy it at a really low rate congrats for that but if it's not required don't sell bitcoin is like a asset and we try our best not to sell our asset at any time it's better if you hold you coins and sell only when it's really required

[Morguk]

If it was much more of your stack, like 60% or above then I would hesitate to do so. But if it's only 20% of your stash then why not? What have you got to lose? If BTC goes to moon you still have a load left, yet if it doesn't/or takes longer than expected, then at least your mortgage is paid off.

Remember getting your mortgage paid off is a distant dream for many, it's a nice goal and if 20% of my stack would do it, I would do it in an instant.

[Wilhelm]

If it was much more of your stack, like 60% or above then I would hesitate to do so. But if it's only 20% of your stash then why not? What have you got to lose? If BTC goes to moon you still have a load left, yet if it doesn't/or takes longer than expected, then at least your mortgage is paid off.

Remember getting your mortgage paid off is a distant dream for many, it's a nice goal and if 20% of my stack would do it, I would do it in an instant.

Very wise words....

I'm selling if I can buy a house for half my stack

[Indrawan77]

If your debt is only 20% of your debt then just pay it, it is not good to have a debt, I know if you hold longer then maybe you can spend less than 20% to clear your debt, but bitcoin price is up and down, so you only can speculative about it, just pay it and then focus on other things