Is buying three bitcoin worth it?

[ZhakirSetie]

I’ve been reading up on bitcoin and saw that Tim Draper estimates the price will hit 250k in 2022. I honestly could never afford a ton of bitcoin even now at 37k but I could afford three. It would be a lot of my savings, not all, but a majority. Is it worth it to spend almost 111 thousand dollars buying three bitcoin? Will it make me back a substantial amount more money? Please help!10.0.0.0.1 192.168.1.254

[pooya87]

If your goal is to buy bitcoin at current price then hold to make profit when you dump it at a future price (eg. the guesstimate at $250k) then the answer is no it is not worth it. Bitcoin is not created to be bought and held for profit making.

Bitcoin is made to give you financial sovereignty, if you can covert your centralized inflation riddled fiat to the decentralized censorship resistant currency with a capped supply that is worth a lot. It is worth a lot more when you can do it at a discount when price is lower than intrinsic value.

[mk4]

If you need to ask us if bitcoin is worth buying or not, then you probably don't know what bitcoin is in the first place.

Rule 1 of investing: Don't invest in anything you do not understand.

Educate yourself:

• https://coindesk.com/learn
• https://bitcoin.org

[aoluain]

When Bitcoin goes to $250,000 the OP will be looking back at this thread and regretting they
didnt put ALL the savings into Bitcoin.

If we use Michael Saylor's Microstrategy as an example, they own 91,000 Bitcoin, he is not worried
about a possible loss, he doesnt see one.

As @mk4 states,  make sure you know what you are getting into, be aware that if you buy now
the price of Bitcoin can go down, the key is to "not panic" and sell at a loss, this is a long term game.

[Kittygalore]

Don't invest what you can't afford to lose, if you don't have a lot of disposable income to invest in then probably it's not your call to buy 3 bitcoin because you never know what's going to happen in the future plus you said that you will be plucking from your savings which is crazy for me. Also, remember that bitcoin is volatile and those people saying big numbers are just predicting stuffs.

[LimLims]

I’ve been reading up on bitcoin and saw that Tim Draper estimates the price will hit 250k in 2022. I honestly could never afford a ton of bitcoin even now at 37k but I could afford three. It would be a lot of my savings, not all, but a majority. Is it worth it to spend almost 111 thousand dollars buying three bitcoin? Will it make me back a substantial amount more money? Please help!

Everything is about risk.
The word risk itself symbolises that if you want to bet the money then there are equal possibilities of lose or win.
But if you listen to me, then yes just buy the 3 BTCs if possible.
I have a strong assumption and have also seen many popular Bitcoin traders predictions regarding the growth of BTC.
Not sure about 250k in 2022, but yes you won’t end up with losses.
Wish you best of luck Op.

[ropyu1978]

if you ask the question, is buying 3 bitcoins worth it, maybe people will have different answers, buying 3 bitcoins might not be worth it for millionaires who have a lot of wealth, but for middle class people maybe buying three bitcoins is more than enough, but we who have the money mediocre, I think there is no need to burden our lives, by buying a lot of bitcoin, we just need to follow trading about bitcoin..

[NeuroticFish]

Is it worth it to spend almost 111 thousand dollars buying three bitcoin? Will it make me back a substantial amount more money? Please help!

Imho it worth buying even half a Bitcoin. But that's me.
Keep in mind that this is a Bitcoin forum, hence there's more likely that people answering here will tell "yes".

Now, there are a couple of rules:

1. Don't invest more than you afford to lose.
While bitcoin price is supposed to grow more in the future, it may fall too. If you don't afford to lose, you'll panic and sell at a loss, although in a day, a month, or maybe years, the price may recover and then you'll be angry. Or maybe I'm wrong and will not recover at all.

2. Don't invest based on advises from unknown people over the internet.
Please do your research and make your decisions. We are not to be held responsible for your decisions.

3. Learn how to use it and how to store it safely.
Bitcoin needs a learning curve, else you can get in trouble at buying, at transferring to your wallet or you may end up with your money stolen.

[Dhoe]

worth it for a billionaire who has a lot of money, after he buys a few bitcoins he still has savings to buy other needs, but for those of us who have mediocre money having just one bitcoin is more than enough, because we have mediocre money money, if you buy bitcoins a lot of our lives will be chaotic to buy daily necessities, it can be said to buy bitcoins according to our abilities..

[isaac_clarke22]

~

I do not even know who Tim Draper is, but if you're investing because someone speculated its price to grow at some point of time then you are likely to screw over with your decision.
You are seeing Bitcoin as a profit generator which is not. That is just the icing in the cake and you're missing the whole cake.
You have the freedom to spend your money with Bitcoin without involving any authorities.

[YOSHIE]

If I could see what would happen to the price of Bitcoin in 2022, I would say something to you, that's the thing, nobody knows.

Before doing something the bottom line is: trust, Bitcoin is currently trading at $37,743, long before it broke through $50,000, meaning this could also happen as you expect in 2022.

No one is forcing someone to buy Bitcoin it all happened of their own accord, if you feel sure what you are doing is something that is best for you, at least 2022 could reach $100.

[bittraffic]

The price of BTC is very unsure yet I would rather be spending that 111K of yours to a token that I could stake if I were you. Probably allocated 1BTC to an altcoin that will generate money for me than waiting for BTC to go up and just wait for BTC price to dip around $30k or below before buying. Investing in crypto is not for a fainted heart so be careful. So much opportunity but these opportunities could also turn into a nightmare.

[SFR10]

It would be a lot of my savings, not all, but a majority.

Let me stop you right there! This is one of the cases that I'd even suggest to completely forget about the existence of BTCitcoin...
^{- Why would you gamble all of that hard-earned cash in exchange for the words of a random person [regardless of their status]? It doesn't make sense.}

Will it make me back a substantial amount more money?

None of us have visited the future, so don't expect anyone from this thread ^{[or other places]} to answer that question accurately.

Please help!

Only you can help yourself.

[Yaunfitda]

I’ve been reading up on bitcoin and saw that Tim Draper estimates the price will hit 250k in 2022. I honestly could never afford a ton of bitcoin even now at 37k but I could afford three. It would be a lot of my savings, not all, but a majority. Is it worth it to spend almost 111 thousand dollars buying three bitcoin? Will it make me back a substantial amount more money? Please help!

Not good to ask for financial advise here because for sure you will get different answers. If I'm in your shoes, why not put everything in one basket? or better yet, just don't buy 1 BTC if you have doubts. Majority here just continue to stack up stats, at least for average just like me. Again, hard to say as we don't know what will be the price in 2022, it could be $250k or $25k.

[ethereumhunter]

I’ve been reading up on bitcoin and saw that Tim Draper estimates the price will hit 250k in 2022. I honestly could never afford a ton of bitcoin even now at 37k but I could afford three. It would be a lot of my savings, not all, but a majority. Is it worth it to spend almost 111 thousand dollars buying three bitcoin? Will it make me back a substantial amount more money? Please help!

To reach $250k in 2022 is a big wow for us. If you want to buy bitcoin, you can do that while the price still in the $37k-$39k range but I do not suggest you buy it at once. You can buy bitcoin at any lower price and hold it.

If I were you, I would split that money into many parts to buying bitcoin to hold my worry to buy bitcoin at a high price. We do not know if bitcoin really reaches that highest price in the next year, so if we can buy bitcoin from now on, we can expect to profit in the future. Besides that, if you can buy bitcoin at a low price, you do not have to worry about price volatility.

[Joshua01]

You should most care about percentage gains rather that owning whole coins at this cost. For example if you buy $10k worth of Bitcoin and the price doubles, then you made 100% profit. So for Bitcoin and any other just invest what you can afford to lose and it’s more about the percentage gain on your investment than a whole dollar amount.

[wendy sy]

My advice is be more reasonable. Invest some money into Bitcoin (or crypto in general) but diversify your investment. You should never invest the majority of your savings into any one thing unless you’re buying your forever home or making a business investment. My opinion is you should have a healthy mix of retirement fund (401k), property (physical), stocks, and a little cash on the side. Crypto is a great thing to add to this list but again.. be smart and reasonable. Also never invest what you don’t feel 100% comfortable losing.

[marilynmanson21]

for the price of 250k $ I think it's too high you take profit (if you really aim to make profits in BTC) especially in the short term in 2022 later,
one thing that is unlikely to materialize in the next 6 months, my friend,
think carefully before buying bitcoin especially now the price of bitcoin has reached 38k $ back, if indeed your money is free and you are a millionaire it's okay maybe 3 btc is just a piece of your wealth

[Ararbermas]

I’ve been reading up on bitcoin and saw that Tim Draper estimates the price will hit 250k in 2022. I honestly could never afford a ton of bitcoin even now at 37k but I could afford three. It would be a lot of my savings, not all, but a majority. Is it worth it to spend almost 111 thousand dollars buying three bitcoin? Will it make me back a substantial amount more money? Please help!

well in my opinion yes it will be worth it when it comes long term, but remember that it always good to invest what amount you can afford to lose only, so that it won't bother you anymore especially when there's a negative news or a massive decline like this.. Just be smart don't push what you have right now because you don't know what will happen when you can't control your emotions when something bad happens in the market. So a friendly reminder don't just put your egg in one basket wherein just keep the rest for your needs..

[Lucius]

I’ve been reading up on bitcoin and saw that Tim Draper estimates the price will hit 250k in 2022.

I respect Tim Draper as one of the biggest supporters of Bitcoin from the earliest days, and I remember well when he told in 2014 that the price of 1 BTC in 3 years will reach at least $10 000, which of course happened. The price you’re referring to is his 2018 forecast, but that’s just speculation, even though a man like him doesn’t say things like that for no reason - but I still wouldn’t go into such a risky investment based on his statements.

What I would recommend is that you think carefully about how much money you can spend to buy BTC, without being in an awkward situation if the price at any time in the future is lower than it is today - or if it happens that in any way you lose your BTC (lost backup, hacking...).

I definitely agree that you don't need to invest in something you don't fully understand, first invest time in education (the forum can help you a lot), then ensure that you can be your own bank - which means you can securely store your BTC and make a backup of your private keys/seed words.