What will you do if Bitcoin hits $1m in the future?

[Abiky]

Many people are talking about Bitcoin hitting $1 million USD in the future. Crypto enthusiasts are very optimistic, as they believe their dreams will come true with a Bitcoin halving taking place every 4 years. If Bitcoin hits such price levels, many early adopters will become millionaires. It could be tempting to either sell all of your Bitcoin or "hodl" it for the long term.

What will you do if Bitcoin hits $1m in the future? Will you sell all of your Bitcoin for cash? Or will you go long in the hopes of Bitcoin reaching higher prices on the market? Will you donate your profits to a charity? Just curious to know. Your input will be greatly appreciated. Thanks.

[Poker Player]

I'm not so much worried about what I'll do when it reaches $1 million as what I'll be doing while the price keeps going up. Also when there are crashes. Even if it reached that figure in 4 or 5 years, I wouldn't be able to retire, because I don't have a lot of money in bitcoin and I'm going to sell partially when some milestones are reached, so I remain invested while keeping increasing wealth in bitcoin. That and my personal wealth management in general should leave me in a comfortable position.

[Obi theo]

Firstly if bitcoin ever hit $1M in the future, personal I will regret not getting some of it , and if I do get some b4 that period I won't think of selling any of it , am ganna hold on to it real  tight

[A62662]

It will never hit $1m in the future. That is what you would expect an 8 yo kid to ask.

[tabas]

If Bitcoin hits such price levels, many early adopters will become millionaires.

At this point of time, those holders who have bought it early and holds around 40+ btc are already millionaires today.
I'll sell but not all that I've got. That's going to be a very historical sale for most people and if we're planning to sell, the institutions are the first one to sell from that point.

[Hamphser]

Many people are talking about Bitcoin hitting $1 million USD in the future. Crypto enthusiasts are very optimistic, as they believe their dreams will come true with a Bitcoin halving taking place every 4 years. If Bitcoin hits such price levels, many early adopters will become millionaires. It could be tempting to either sell all of your Bitcoin or "hodl" it for the long term.

What will you do if Bitcoin hits $1m in the future? Will you sell all of your Bitcoin for cash? Or will you go long in the hopes of Bitcoin reaching higher prices on the market? Will you donate your profits to a charity? Just curious to know. Your input will be greatly appreciated. Thanks.

You would really be able to read up lots of post and perception towards this topic.

https://bitcointalk.org/index.php?topic=5162485.0
https://bitcointalk.org/index.php?topic=5167734.20
https://bitcointalk.org/index.php?topic=5178222.0
https://bitcointalk.org/index.php?topic=5162485.20

Back to question of what would i do if it hits 1m, then that wont really matter much since im not really holding much off some bitcoin.

[ChrisPop]

Probably I would still hodl it, but balance my portfolio accordingly. One should not have all his eggs in one basket if the basket is golden.

When Bitcoin hits $1M I'm sure the adoption in stores will be much higher and people will accept it as a method of payment. Plus, if people need cash they can get a collateralized loan anytime.

[kawetsriyanto]

Simply, if now I know that BTC will exactly hit $1m in the future, I will buy more right now and hold it for several periods. However, we do not know when it will come. So, I personally just focus on the short investment for right now. taking small profits from the market price and continue to hold little by little for a long term inevstment

[BIT-BENDER]

Before Bitcoin would have reached a million dollars as price, -although this is higher than all excitement I have about Bitcoin future price- I may have sold some, maybe for pressing needs, bought, when I can, and did it all again more than once, so if Bitcoin reaches one million dollars I would be doing more like that, you can plan to hold and may deeply can't do without selling some, and can plan not to buy, but makes millions and invest out of dollars excesses that you have.

[Leviathan.007]

I'm not sure if the 1M is realistic or not but the moment when I bought bitcoin at 5K last time, I bought it to sell above 500K with X100 profit or even more. Depending on you and how much you do really believe in bitcoin you can have different price goals. I remember the moment when the price was bellow 500usd for each bitcoin people never could think of buying bitcoin at 30K after just a few years. And now this can even pass this price level easily.   

[Wexnident]

Nothing really, well if I have Bitcoin at that time, which I really doubt, I'd sell them ofc. I may advocate on Bitcoin being used as a currency itself, but hell I still bought Bitcoin initially to profit off of it through hodl. Not that I don't use it to buy stuff, if my card is blocked or I'm just lazy to do some stuff to let the payment go through, I use Bitcoin if possible, especially recently in a few live concerts I've watched. But other than that? I don't think it's a cause for me to do something, a small celebration maybe, but that's about it.

[coolcoinz]

I don't think that I will ever get rid of all my coins. If bitcoin ever hits 1m USD I'll be rich and it won't matter if I sell 1 or 10 bitcoins. I'll always have enough money to live by so I don't see a reason not to hold some bitcoins as backup, the way you keep money in any other long term investments. I'm planning to sell only enough to live by and depending on the value of bitcoin it will be a cheap or moderately expensive life

[otcrypto]

this is the exactly the signal I was looking for, time to short 

[Sterbens]

What will you do if Bitcoin hits $1m in the future? Will you sell all of your Bitcoin for cash? Or will you go long in the hopes of Bitcoin reaching higher prices on the market? Will you donate your profits to a charity? Just curious to know. Your input will be greatly appreciated. Thanks.

In my opinion, if bitcoin ends up reaching $ 1 million, of course this is a full point for us. not only that, because based on the sufficient profits we will likely sell as a whole. although this still sounds like wishful thinking. believe me nothing is impossible in the world of bitcoin, i hope everyone feels the benefits without exception. because all bitcoin or altcoins users have the right to benefit greatly from this

[Kez1817]

$1Million is far from the reality but bitcoin is volatile so on the other hand, who knows it might be happen. If ever it will happen, I think many bitcoin enthusiast will become rich if they know how to handle their bitcoin. For, if I have even 1 bitcoin and then that will happen that the bitcoins value will hit that $1M, I'm going to help the poor among the poorest in our place because you will not bring your wealth or bitcoin if you die, so, much better if you extend your helping hands to others.

[Abiky]

Probably I would still hodl it, but balance my portfolio accordingly. One should not have all his eggs in one basket if the basket is golden.

When Bitcoin hits $1M I'm sure the adoption in stores will be much higher and people will accept it as a method of payment. Plus, if people need cash they can get a collateralized loan anytime.

Couldn't agree more with you, mate. It's always best to diversify your investment in order to reduce risks of loss as much as possible. A price as high a $1m USD should make many early adopters wealthy. If you're smart, you'd cash out some portion of your holdings for profit while keeping the rest as a long-term investment. You can even make greater returns if you take advantage of Bitcoin's price volatility. As well as you do, I believe that Bitcoin's mainstream adoption will be huge once it reaches a price of $1m per coin. My guess is that fees will be ridiculously high if everything stays the same. People will be forced to use the Lightning Network if they want to use Bitcoin for daily payments. For moving large amounts of money, on-chain transactions will be the most viable option for achieving security/reliability.

Nonetheless, Bitcoin is still far away from reaching a price of $1m per coin. It could take a couple of years, if not decades, before it becomes a reality. We should focus on Bitcoin's utility instead of speculating its future price. 1 Bitcoin will always be equal to 1 Bitcoin no matter what. With a price of $1m per coin, people will be spending "satoshis" instead of "milibits" of a Bitcoin. Whatever you do with your profit, it's your decision. Nobody can force your to "hodl" or sell at any point in time. Some people will use the money earned to donate it to a charity of their choice, while others will cash out for profit. "Hodling" your Bitcoin forever is not a wise decision as you could miss an opportunity of a lifetime to make some extra cash. It's always good to spend a small portion of your holdings every once in a while in order to secure profits. Just my opinion

[BITCOIN4X]

The OP's question will likely lead to a similar answer in general, namely that no one knows the future of bitcoin whether it reaches $1M, $2M or more. I only hope that bitcoin will continue to grow and always be accepted by the wider community and adopted as a payment system. If adoption increases and continues to grow, the price will be maintained even though the volatility cant be eliminated.

If bitcoin reaches the price of $1M then I believe the government's involvement in regulatory matters will be higher and they will probably regulate it more tighter. Maybe I will be the reader of thousands of communities who are disappointed that they don't buy bitcoin today if the price reached $1M in the future. LOL

[Amon1231]

If it reaches 1 million dollars in the future, I will invest half of my money in Bitcoin again and half by buying a house and building an apartment for me to have a passive income, nowadays we need to have an income passively because we didn't know what will happen to the future, just like this pandemic, we did not expect for this to happen many people lost their jobs.

[Abiky]

The OP's question will likely lead to a similar answer in general, namely that no one knows the future of bitcoin whether it reaches $1M, $2M or more. I only hope that bitcoin will continue to grow and always be accepted by the wider community and adopted as a payment system. If adoption increases and continues to grow, the price will be maintained even though the volatility cant be eliminated.

If bitcoin reaches the price of $1M then I believe the government's involvement in regulatory matters will be higher and they will probably regulate it more tighter. Maybe I will be the reader of thousands of communities who are disappointed that they don't buy bitcoin today if the price reached $1M in the future. LOL

That's certainly true, mate. No one knows what Bitcoin's price will be in the future. Everything is just speculation. Bitcoin's value is determined by everyday people like you and me. That's because Bitcoin doesn't have a central authority in control of its supply (unlike Fiat). Bitcoin's future price will depend on how well it's adopted in the mainstream world. If it ever hits $1m, I'm sure many early adopters like you and me will become filthy rich. Such a high price will also attract the likes of everyday people by encouraging them to buy and "hodl" Bitcoin for the long term.

Whatever you do after Bitcoin hits $1m in the future, it's your decision. You can either sell your coins for cash or continue "hodling" it for the long term. It would be wise to sell a portion of your Bitcoin holdings to help secure your profits. You'll never know when Bitcoin will go down in price again, due to its volatile nature. Just my thoughts

[acquafredda]

Good question.
I guess the time to prepare to those price levels is now, as I am deeply not prepared to see 40k already! I mean that is high compared to when I first heard of bitcoin (2011). I suggest everybody to look at these saving plan to set a good strategy and get prepared.
https://jlopp.github.io/bitcoin-savings-plan/