Long Term Holders - When Do You Plan To Cash Out?

[kotajikikox]

For those people who are long term holders of btc or any crypto, do you have a plan of when you would sell it?  I am talking about the coins you are holding long term and not trading or selling short term etc.  Such that if you have a set amount of btc or crypto where you are holding long term.

Plans? i am not totally a long term Holder because i can only keep mine for at least 1-3 years cycle in which i don't know how to label if long term holder or short term.

Imagine someone with 5 btc which is a lot of money.  That is a lot of money even in first world countries but that isn't even enough to buy a house in many cities in a first world country.  But do people here have plans like okay the moment my btc or crypto is worth x amount of money, then I will cash out some part of it or everything?  

for us small time trader 5 btc is a lot of money, but have you ever think of How whales really treat this?

for them that 5 btc wasn't enough for now and they are even looking for more long holding to increase their earning .

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[Mauser]

For those people who are long term holders of btc or any crypto, do you have a plan of when you would sell it?

At the moment I have no real plan on when to sell any bitcoins. My first bitcoins I had back in 2016 unfortunately I didn't save them and sold them all. Back then bitcoins was a nice and fast way to deal online as part of my CSGO skin trading endeavours. Selling was my biggest investment mistake, I should have just held on to them. Not going to make the same mistake again. All my coins now I want to hold for a long time. Maybe when bitcoins reach 200,000 USD I think about selling some, but never again will I sell all of it. The only way where I could be forced to be selling my coins would be if there was big renovations cost coming up for my apartment and I had no other form to pay them.

[Kakmakr]

I have a split portfolio, where I have 80% of my coins in cold storage for long-term hodling and then 20% revolving coins that are being topped up and used on a daily basis. I basically save up Fiat in a bank account, until the price drop... and then I buy some bitcoins.

80% of the coins I buy, goes to the 80% hodl fund and 20% goes towards daily spending... so I use some of the bitcoins as a currency. (We cannot expect Bitcoin to succeed, if everyone are hoarding bitcoins)  

[Rikafip]

For those people who are long term holders of btc or any crypto, do you have a plan of when you would sell it?  I am talking about the coins you are holding long term and not trading or selling short term etc.  Such that if you have a set amount of btc or crypto where you are holding long term.

I had target prices several times in the past, but each time BTC reached it I realized that it worths to me much more than the current price was and set up a new one. Eventually I just stopped setting any goals and decided to enjoy the ride which so far proved to be an excellent decision.

While I do consider myself long term hodler as I hold for ~6 years now and would sell it all only in case of some emergency, I do spend part of my BTC at the regular basis because I think that its important to keep using it for what it was initially intended for.

If that person takes 1 million dollars and then go buy a stablecoin like usdt and stake it on nexo or blockfi or gemini and earn at least 8%... they would earn 80k-100k a year in passive income in that stablecoin which they could then immediately turn it to fiat and cash to their bank account.  That is more than enough to live on assuming you do not have crazy expenses.

I don't know about you but I wouldn't trust any centralized services with a few thousands of dollars, let alone one million. What's even worse, you would keep it in stablecoin that can be locked/freezed at the creator's whim. Combination of those things makes this tactic way more riskier than just keeping BTC in your own wallet and letting it do its thing. If someone wants to cash out and invest into something, real estate seems like a much safer choice anyway.

I love the fact that the altcoin I held in my portfolio is having the potential to do wonders this season. Am positive that it's going to give me thousands of dollars in profits in no short time. Am not in a hurry to withdraw, am just being calm trusting their price movement. Probably by next year, I will consider trading them. Bitcoin will then be the last thing to trade when it has reached her ATH of $100k as predicted by many

So many people got rekt by holding altcoins long term so if you don't wanna repeat their mistake you should consider cashing out and going into BTC; if not completely then at least part of it. Thing is, in the long run (and for altcoins 1 years is a very long time) BTC regularly outperforms altcoins, meaning its far more suitable for a long term hold you are talking about.

[Pmalek]

When Bitcoin was worth $65.000 and looked like it was heading for the $70.000 mark, I didn't doubt my decision not to sell. If it reaches $100k soon, I am sure I will sell a portion of my portfolio. However, I would be happier if Bitcoin reached such an adoption stage that I wouldn't have to worry about where to spend it and any store would gladly take it. But we are not there yet. Laws and regulations are different from country to country.

Exchanging my BTC for a stablecoin is not something I consider reasonable. The only stablecoin worth looking at is DAI. Everything else can be locked, even in non-custodial wallets. Never trust those centralized platforms with your money Jerry, no matter what returns they seduce you with.

[Lucius]

While I do consider myself long term hodler as I hold some for ~6 years now and would sell it only in case of some emergency, I do spend part of my BTC at the regular basis because I think that its important to keep using it for what it was initially intended for.

My philosophy is almost identical, so although I understand people who have an exit point, I would hardly decide to sell all the BTC I have because I think it is the best investment I could make. Of course, I sell some BTC from time to time, and use it for various small transactions - but at a time when fiat is drastically losing value, it feels good to have Bitcoin. In addition, we both live in a country where a lot of things can be bought directly with cryptocurrencies, which is another good reason not to sell.

[Cryptmuster]

My philosophy is almost identical, so although I understand people who have an exit point, I would hardly decide to sell all the BTC I have because I think it is the best investment I could make. Of course, I sell some BTC from time to time, and use it for various small transactions - but at a time when fiat is drastically losing value, it feels good to have Bitcoin. In addition, we both live in a country where a lot of things can be bought directly with cryptocurrencies, which is another good reason not to sell.

My position on bitcoin is the same, I don't plan to sell my bitcoins at the moment. I do not sell all my bitcoins at all, my savings are enough for my daily expenses, and I keep bitcoin as a long-term investment. Perhaps I will sell some part if it grows in price so much that I could live in abundance and at the same time part of the bitcoin remained with me.

[Jawhead999]

But assuming they were holding long term, this number probably would be a bit higher?  But let say use 1.5 million dollars after taxes.  If that person takes 1 million dollars and then go buy a stablecoin like usdt and stake it on nexo or blockfi or gemini and earn at least 8%... they would earn 80k-100k a year in passive income in that stablecoin which they could then immediately turn it to fiat and cash to their bank account.  That is more than enough to live on assuming you do not have crazy expenses.  

Who said stablecoin is free from tax? stablecoin do get tax!

How is stablecoin interest taxed?
Many popular crypto applications like BlockFi and Celsius allow users to earn interest in stablecoin. In this case, your rewards will be considered ordinary income and will be taxed accordingly.

I don't understand why you can consider staking stablecoin is better than invest in Bitcoin. Those centralized platform only offer you 8% APY and you're risking your 1 million dollars to them! Don't cry if they turn as scam project. Bitcoin could offer you better than 8% APY and your coins are fully 100% safe if you hold on hardware wallet. Choosing stablecoin is like choosing bad investment and riskier than Bitcoin.

Regarding to your questions, why should I cash out my Bitcoin if I'm not needed yet?

[Sebas.tian]

Everybody is in a different situation. Anybody who bought pre 2017 should probably have taken some pressure off their lives by buying a house or something. Never sell all your bitcoin, hell don’t sell over 50% but it’s a good idea to sell some to make significant positive changes to make your life better.

Yes, Selling all your bitcoin can make you regret when the price finally get to $100 before the end of this year 2022. Those that purchased bitcon when the price was $20 or $30 some years ago, need to release some bitcoin for sale to be part of those that will make a huge amount of money from their long term investment. Anyone that can follow the steps or ideas of bitcoin professional investors to release little for sale to make profits to improve other things in the family and hold the remaining bitcoin for the price to hit $75 or $80 before they can sell all to live a better life in the community. Since bitcoin price has moved to $50 few minutes ago, show that long terms investors have a lot to achieve from their long team investment before the end of this month of March.

[Ararbermas]

I almost try to keep investments for a 6 moths period at least, do you consider that not enough?

it depends on the situation and of course when it comes holding for long term you should have a target  so that you know when to sell.

And for me it would be enough unless if bitcoin will skyrocketed again like what happened last year. Imagine if you bought at 30k last year, because bitcoin achieved 2 consecutive ATH. So surely you will become profitable enough.
But like what i said it depends of the situation, so its always good to set target so that you don't need to wait for a confirmation.

[Anonylz]

Selling is not an option for me right now,  i intend to hold and try to accumulate more. i can not predict the future but my desire is to continue holding as long as i don't have any reason to want to sell.
Earning passive income from stable coins is not a bad idea but selling btc for just that purpose is imo, the probability of btc going higher in years to come is high so why sell to stablecoins just to earn passive income. You can always do this with a sperate funds (if you can afford it).

[Marvell1]

One of the things I regret the most was not holding the Bitcoin I had acquired a few years ago, I didn't really need those funds but had cashed out a large chunk of them. Luckily, some of which was saved till now and was invested in DeFi projects and managed to earn a decent sum of money.

After this experience, I'm trying to save as much Bitcoin as possible. I'm not sure when I'll withdraw again, certainly not before surpassing the last all-time high. Currently, I'm not need of funds, thus, I'll keep on holding.

I feel you and this experience also costed me an opportunity of not taking advantage of BTC's volatility and inflation.

Back in 2017, I was privileged enough to participate into various campaign signatures where I earned a handful amounts of BTC during my stay. Since the price of BTC was relatively low (around $5,000-$6,000), the denomination and pay of each campaign signatures where high. Due to financial difficulties, I had to cash out my BTCs weekly in order to provide for my education and materials since I was a college student at that time.

Fast forward to today's year, if I did not cash out my BTCs from all the campaign signatures I have participated, I would have saved at least $30,000+ which could have granted me an opportunity to purchase a car for my dad. That is why, this expensive lesson taught me something- to at least cash out my BTCs if I direly need them. I could have worked my ass-off by doing part-time jobs but I chose the easy way out.

I think you shouldn't regret, even though that bitcoin is now a huge sum of money. At the time, no one would have expected that the bitcoin price would rise as it is now and will rise even more in the future. You should be grateful and happy that bitcoin got you through those tough years and got you where you are today.

Now things seem more difficult in 2017 bitcoins have increased a lot and accumulating bitcoins has become more difficult but that doesn't mean you and i no longer have a chance to own bitcoins. I think the current bitcoin price is still low compared to the future so let's accumulate lots of bitcoins now.

[uneng]

Once bitcoin hits 100,000$ I think it's a good mark to sell and buy again when the price crashes a little bit. This way it's possible to make some profit, while acquiring the same amount of bitcoin held before the sale.

Meanwhile, investing bitcoin in crypto banks such as the mentioned in OP can be interesting to keep earning passive income until bitcoin reaches on the price range aimed to sell. This way you won't waste any time.

Stablecoins are also an interesting adoption on this situation, because crypto banks offer very decent interest rates, superior to the ones they pay over volatile cryptocurrencies and also superior interest when compared to the ones paid by traditional fiat banks.

[Lanatsa]

Once bitcoin hits 100,000$ I think it's a good mark to sell and buy again when the price crashes a little bit. This way it's possible to make some profit, while acquiring the same amount of bitcoin held before the sale.

Meanwhile, investing bitcoin in crypto banks such as the mentioned in OP can be interesting to keep earning passive income until bitcoin reaches on the price range aimed to sell. This way you won't waste any time.

Stablecoins are also an interesting adoption on this situation, because crypto banks offer very decent interest rates, superior to the ones they pay over volatile cryptocurrencies and also superior interest when compared to the ones paid by traditional fiat banks.

When bitcoin able to break that 20k then no one had expected nor anticipate that it could shoot up in 40k and then next that 68k+ something on its ATH which people do next out presume that it would hit up $100k

on which a very common resistance that we would really be hoping that it would be reached out soon but of course we do need to break its all time high which is on the price above.
For investors point of view then it is actually depending on preference on when we do take out profits or trying to materialized those gains whether on a certain price point which might
really be affected by some factors.

[thecodebear]

Never. That said I did move ~39% of my Bitcoin from early '21 to early '22 to about a dozen altcoins, specifically PoS coins in order to generate a yield. But I'm done with that now. The point of this was so that I can use the staking rewards for my money needs and wouldn't need to sell Bitcoin except for very large purchases.

The Bitcoin I still have I won't ever cash out, but I will probably spend a decent amount of it over the next 10+ years to buy real estate, give some to my nieces, I'd like to also take an orbital trip to space and potentially also to the moon or at least a trip around the moon if those things become relatively reasonable to do (I'd be willing to spend maybe half a bitcoin on each), and I might diversify 1 BTC into stocks once it's at a million-plus price.

I'd still have a bunch of Bitcoin left over after all that which I have no plan on using for anything specific. I also plan to start permanently DCA'ing into Bitcoin on a weekly basis later this year as the market recovers so my staking rewards go up in value and I can afford to invest new money into Bitcoin.

It's all good to spend your Bitcoin to do the things you want to do in life, after all you can't take money with you when you're dead, but spending things of lesser value, like fiat and cashing out altcoin staking rewards, comes first, so as to safeguard my reserves of the most valuable thing: Bitcoin. So there is no "cash out" plan. The plan is simply continued wealth accumulation by turning things of lesser value into things of greater value (cash/alts rewards --> Bitcoin) while spending Bitcoin a handful of times for those really big ticket items in life.

Bitcoin will continually go up in value so there's not really a point having a price target to sell it at. If you want to use Bitcoin to buy something big then do it when you're ready, but "cashing out" is last decade thinking. Bitcoin has moved past its retail boom bust cycle stage when setting price targets made sense. Not Bitcoin is just on its way to wide global adoption so there isn't a point in cashing out, except when you want to spend that money.

When bitcoin able to break that 20k then no one had expected nor anticipate that it could shoot up in 40k...

Huh? Anybody experienced in the market knew that breaking $20k (the previous cycle's ATH) meant it would very soon be far higher. Only people who had a very poor understanding of the market were looking to sell once it got back around $20k. I do remember this point of view being stated on here though back in 2020, and tried to tell those people on here that selling at that point was the absolute worst timing decision the could possibly make as the price would be several times higher in the months following hitting $20k.

[moderator's note: consecutive posts merged]

[blockman]

I am a long-term holder and I have already designated an amount that I'm not going to sell. I have some other spare cryptos that I would sell in times that I need them.
I guess the majority here are waiting for bitcoin to hit $100k and upwards before they start picking some decimals on their bitcoin holdings. Maybe I'd do the same just for the sake of taking a profit and I would like to spend that for anything that I want to get into another venture. Yes, profit for another business or investment from bitcoin profit.

[jubalix]

What do you cash out into ?

FIAT devalues 20% a year
Realestate illiquid, taxed, divource rape by courts
Stocks Rigged every possible way and can just disapear unlike btc
Gold/Silver gold cert rigged.

Find a better asset class is the first issue even before you get to "price".

I recall around here when 21 BTC was the make it number and that was not to hard to get.

[Kasabus]

For those people who are long term holders of btc or any crypto, do you have a plan of when you would sell it?

Im not certain if I can consider myself as a long term hodler since im not like others who can ignore their crypto even for long time because they can sustain themselves financially and not struggling.

In my case, I have set target price for my Bitcoin and altcoins on when im going to sell it. But I still take profit at times if my coins had a huge increase, this is to enjoy some of my earnings. Im holding some of my alts for few years now, but when it comes to my Bitcoin, there are times I get tempted to sell it especially if im really in need of money.

There's no wrong actually if you keep your bitcoins for long term hodling, but its certainly not a smart move for a wise investor. Yes, you can hold it as much as you can but you can't hold the assurance if its value will always moves up. There are times that its price suddenly drops down and then you miss the chance again to make profits. So its a always a smart idea to set your target selling price so you will also gain profits and not just on accumulating more bitcoin. Investing helps you create profits and capital gains, so you should always find time to sell your coins at a good price.

[NicNacCoin]

I will never hold for a long time. I have seen that I have suffered the most by holding for a long time.I held BTC in 2018. Since then the price has increased many times I did not sell.So I decided that what I really needed to do was learn how to do it right.  If I make enough profit from my invested money, I will sell everything I hold.

[Vaculin]

One of the things I regret the most was not holding the Bitcoin I had acquired a few years ago, I didn't really need those funds but had cashed out a large chunk of them. Luckily, some of which was saved till now and was invested in DeFi projects and managed to earn a decent sum of money.

After this experience, I'm trying to save as much Bitcoin as possible. I'm not sure when I'll withdraw again, certainly not before surpassing the last all-time high. Currently, I'm not need of funds, thus, I'll keep on holding.

If you have no important stuffs to buy, then just hold it as much as you can. After all, bitcoin will always grow in value despite of its unpredictable price volatility. However, if you want to have consistency in making profits, then sell some of your bitcoin when a new all time high is reached. That will motivate you more to buy and accumulate more bitcoins when their price is low so you can start selling them at a reasonable high price. You may sell some, but leave some of them for long term hodling and for future profits.