My investment in Bitcoin has almost reached my target retirement fund amount, which I can put the money in some boring index fund to generate enough passive income for the rest of my life.
However, I don't want to sell all my Bitcoin at once, I'm a strong believer in Bitcoin, and think the future is bright, however, I must secure my profit as well, btw, I'm invested about 99% of my wealth in Bitcoin.
One exit plan that I came up was:
Sell 10% of my BTC once it hit my target amount, sell 20% on next year, 30%... and so on.
Illustrate: If I have 100BTC, sell 10BTC first year, sell 18BTC (20% of the 90BTC) next year...etc.
This exit plan still gives a lot of weight in Bitcoin, which means I'm still going to have a high-risk portfolio for next few years, the pros are, I believe Bitcoin value can multiply.
So what'll be your exit plan if you've had enough Bitcoin to live the rest of your life?
Well for a start, you are obviously in a nice situation and it is a problem that I am sure many people would like to have!
I too have been thinking about this, though the number of Bitcoins I hold and the initial investment I made were probably much lower than yours.
I go onto Bitcoinity and set the chart to 6 months. 6 months ago the price was $1150 or so, and we were all fairly happy with that at the time. I assume that $1150 isn't a high enough price for you to retire though.
There is no real reason why the price couldn't fall back to $1150, hopefully it won't, but really it could. So you have to ask yourself how you will feel/cope if that does happen. I guess for you it wouldn't be a tragedy, but it would mean that you would have to work/save for a longer time before retiring. If your goal is to retire with the amount you have now, I don't really see much downside to doing that. Or you could sell some of your Bitcoin, and leave some for speculation based on how much you can save in the time you have until retirement (I wouldn't want a large amount in shares now with the ATHs there)
My plan was and remains to sell when I feel that the price is high. I won't get rich from Bitcoin, but I have gone from having not much saings, to having a fairly good amount of savings. I want to keep some skin in the Bitcoin game though, incase the price really does end up being $100k or whatever people like to predict. So I sell on occasion, and I do not buy at these prices. I am in profit and the only way that I can end up not in profit is by buying high. If in 6 months the price is back where it was 6 months ago, and I bought at $5700, I could find myself having hardly any savings again, which would have negated the whole Bitcoin rise we are enjoying now.
Sorry for the long, rambling answer!
