Invest in Bitcoin by selling wife's jewelry

[LDL]

We know gold is very precious metal, but Bitcoin is much more expensive than gold. Bitcoin will cross $100k after halving in 2024 ie if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin. I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin. At present I am forced to sell my wife's jewelery as I have no fiat money.
I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

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[Bobrox]

Your decision is good by selling your wife's jewelry and invested in Bitcoin but can't guarantee with your investment $3,000 will increase up later due not stable price from bitcoin could be up or down. Depend with gold or jewelry I think Bitcoin is best investment assets but looking on stable and without any inflation gold or jewelry investment is worth option.

Lets waiting until 2024 with $3,000 investment how much increasing up, will you earn double profit one years later or Bitcoin price keep stable due your decision with long term investment.

[Rikafip]

First of all, its not a smart thing to share image of your wife's jewelry (some pieces stand out quite a lot) because you never know who is reading this.

Bitcoin will cross $100k after halving in 2024 ie if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin. I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin.

There is no guarantee that bitcoin cross $100k in 2024 and if you are saying this to your wife, you are basically lying to her and I don't think that's smart thing either. Did you ever consider scenario in which bitcoin stays at these levels or even go below for the next few years, how you gonna explain this to her?

At present I am forced to sell my wife's jewelery as I have no fiat money

And who exactly is forcing you?

I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?

Selling your own jewelry is another thing but asking wife to sell hers doesn't make much sense to me.  Even though I believe that it will worth much more in the future than it is now, bitcoin is still high risk investment and I wouldn't endanger relationship with my wife in case things go south, which is always a possibility.

[salad daging]

Remember that no one knows that bitcoin will reach $ 100k in 2024 after the halving, don't overdo it on unclear expectations, even though we think bitcoin is the best asset, but you have to remember that it takes a long time to produce better, while in 2024 there is only one left another year because we don't know how bitcoin will go up or down.

You sell gold jewelry because you don't have fiat money, so this is an emergency for your needs, so sell what you need, the rest, let it be your wife's savings to have gold, even though I know gold is a stable price compared to bitcoin, which has a risk high but keep coming back to your decision.

The two statements above certainly have different specifications, some say more gold or better bitcoin.

But I still won't sell gold, bitcoin will still be held while I can still look to continue adding to it.
I certainly have long term hopes for bitcoin.

[LDL]

First of all, its not a smart thing to share image of your wife's jewelry (some pieces stand out quite a lot) because you never know who is reading this.

No problem, I might sell all my wife's jewelery in a day or two.Talked to two customers and they agreed to buy jewellery.

At present I am forced to sell my wife's jewelery as I have no fiat money

And who exactly is forcing you?

It was only necessity that forced me to sell my wife's jewellery.
In 2022 I lost a lot on several investments, most notably $4000 worth of cryptocurrency during the Luna crash and $1500 worth of crypto during the FTX bankruptcy. So right now I don't have enough liquidity in my pocket to invest. So I am forced to sell my wife's hobby jewelry even though it is very difficult.

[xSkylarx]

You are very confident that you'll earn a profit even if there are risks. We know most of the halving that happened in bitcoin is pretty good as the price went ATH, but we are not sure if this halving is the same. We are not 100% sure that the price will reach another ATH. What if it's all time low? What I would suggest is that you just sell off one-half of it to be safe, or only what you can afford to lose. Try to think and learn about the risk of investing in bitcoin, as we do not know if you will lose your investment.

[crypticj]

I hope your wife is okay with that!
If she is, I think you can sell it and invest in some crypto. Considering that we are now pretty low in the market, you will earn 2x, or 3x in a year or so.
I always thought that all this jewelry doesn't really important, what is important is real money and technology.

[Zaguru12]

It was only necessity that forced me to sell my wife's jewellery.
In 2022 I lost a lot on several investments, most notably $4000 worth of cryptocurrency during the Luna crash and $1500 worth of crypto during the FTX bankruptcy. So right now I don't have enough liquidity in my pocket to invest. So I am forced to sell my wife's hobby jewelry even though it is very difficult.

In my perspective this act of selling jewels defeats the first act of save investment into bitcoin. From your past experiences of cryptocurrency losses I could say you’re more or less a panic trader who focuses on making huge profits and not calculative of the losses you could encounter. What happens after selling your wife’s jewels and the pre determined profit wasn’t achieved, wouldn’t that prompt you to sell another asset?
Excessively selling properties for bitcoin investment will only make you loss more as you will not have the patience to bear the losses in bearish period. In as much as spending on jewels excessively is bad we can’t deny our selves the luxury of having them too because fashion is still key part of our lives

Invest what you can lose

[Cantsay]

With the way you presented the topic to your wife you made it seem as if there's no risk involved if you invest in Bitcoin. ×10 by 2024 is not impossible but what are you going to do if the price of Bitcoin doesn't get to that and instead the opposite happens? Did you talk to your wife about it also? Will she be able to handle losses if peradventure it occurs.

If I were in your shoe I wouldn't sell all the gold I would have sold part of it and keep the rest for emergency situation since you stated that you don't have enough liquidity right now in your pocket.
Remember your own assets and investment is different from when you're helping someone invest.

[LDL]

You are very confident that you'll earn a profit even if there are risks. We know most of the halving that happened in bitcoin is pretty good as the price went ATH, but we are not sure if this halving is the same. We are not 100% sure that the price will reach another ATH. What if it's all time low? What I would suggest is that you just sell off one-half of it to be safe, or only what you can afford to lose. Try to think and learn about the risk of investing in bitcoin, as we do not know if you will lose your investment.

No risk no gain...
Yes we all know investing in Bitcoin is very risky. Investing not only in Bitcoin but in all cryptocurrencies is extremely risky. But I believe 100%  that Bitcoin may double or triple from ATH after halving day 2024. Moreover, after 2021, the entire year 2022 was a bloody chapter for Bitcoin. If the Bitcoin market does not grow in 2023, I strongly believe that after the halving in 2024, the Bitcoin market will exceed $100k by 2025. I made my decision based on this belief.

[NeuroticFish]

No risk no gain...

First of all your wife should be OK with that. Then you have to be aware that the chances you'll ever buy back the exact same items is slim.
This being said, jewelry usually fits in "what you afford to lose" and bitcoin price is indeed expected to rise greatly (with the note that reality may or may not meet the expectations).

I would not do that, but I don't buy too much jewelry either - we don't keep more than what my wife wears - however, if my wife would keep some piece(s) for the memories they bring, I would probably not sell them for Bitcoin.
Still, it's your choice and I wish you best of luck! (which would mean bitcoin price rise greatly; something I do like to see.)

[lovesmayfamilis]

Oh god, OP. I also advise you to sell all the clothes of your parents and children, then sell your car, house, and everything else that can be worth something to buy bitcoin.
You can endure a year after living in some kind of kennel because you are sure that in exactly one year you will become rich.
But seriously, I'm sorry about your wife.
If you believe in God, keep in mind that "you cannot serve God and mammon," and you may have created a new religion for yourself. 

[TopTort777]

Whoops, someone is going to sleep on the couch today ?

Why do you write that you are forced to sell your wifes yewelry? Does she insist on it? Or you are short in cash for everyday expenses. To be honest, those items on the picture does not look like they worth 3k. Id say that they look more like a bijouterie

If I were you, I would not sell them. I think you should invest in bitcoin only your money, not the money of your wife. If she does not wear them, sell them and buy something else. Right now it looks like you have infected her with an idea of easy money, now she forces you to sell them, because she already have plans for those 30k, and you dont know how to get out from this situation, as you are not sure 3k will turn into 30k (or even many times less) in 2024.

This of this - if your plan fails, you will 100% get divorced and lose half of what you have. As she already know about bitcoin (in general), she definitely suspect that you have already bought bitcoin. And it does not matter if you have bought it @ 50k for example. She wont take half of your bitcoin holding, she will take 25k.

You screwed up completely with investment my friend

[Beparanf]

if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024.

 X10 on 2024 seems delusional target for a 1 year time span. The current price of Bitcoin is 23K and Bitcoin price needs to reach 230K to get that target profit of your which is almost not possible for next year target.

Your wife jewelry is her belongings and you should not sell it just for your personal inventory since there’s no guarantee that price will move on your target way. This is insane idea because your wife jewelry is not an investment and you should not value it as the price of gold. No one buy jewelry for investment in the future.

If I do this to my wife, I’m sure that I’m dead already.

[MusaPk]

Whoops, someone is going to sleep on the couch today ?

Why do you write that you are forced to sell your wifes yewelry? Does she insist on it? Or you are short in cash for everyday expenses. To be honest, those items on the picture does not look like they worth 3k. Id say that they look more like a bijouterie

If I were you, I would not sell them. I think you should invest in bitcoin only your money, not the money of your wife. If she does not wear them, sell them and buy something else. Right now it looks like you have infected her with an idea of easy money, now she forces you to sell them, because she already have plans for those 30k, and you dont know how to get out from this situation, as you are not sure 3k will turn into 30k (or even many times less) in 2024.

This of this - if your plan fails, you will 100% get divorced and lose half of what you have. As she already know about bitcoin (in general), she definitely suspect that you have already bought bitcoin. And it does not matter if you have bought it @ 50k for example. She wont take half of your bitcoin holding, she will take 25k.

You screwed up completely with investment my friend

Gold has its own worth and gold price is going sky high these days. Its not advisable to sell gold for investing in some other sector like bitcoin. If you have extra money then go and invest in bitcoin rather its more profitable to invest small money but regularly in bitcoin. To me investing 50$ per week or 200$ per month in bitcoin is more worthy then investing 3000$ at once.
If you have gold in the form of jewellery then keep it for future use. Your kids may be benefitted from this asset in future.

[Z-tight]

It was only necessity that forced me to sell my wife's jewellery.
In 2022 I lost a lot on several investments, most notably $4000 worth of cryptocurrency during the Luna crash and $1500 worth of crypto during the FTX bankruptcy. So right now I don't have enough liquidity in my pocket to invest. So I am forced to sell my wife's hobby jewelry even though it is very difficult.

Sorry about your losses. But if you see this step you want to take now as a way to recover what you have lost, then you may be doing the wrong thing or investing the wrong way, before buying BTC, you must understand what you are doing and for how long you intend to hold, from your calculations you believe by 2024 you would "cash out", but what if you have to wait for much longer, can you hold on and still manage to foot your bills. Considering the amount you said you have lost in just a short time, investing too much into BTC is a bad idea, you can slowly buy BTC through dca.

From the 'moral' side of things, convincing your wife to sell her jewelries so you could invest in BTC is wrong, and i am sure you said it to her in such a way that profit is sure by 2024, try explaining everything to your wife perfectly, including the risks and see if she would affirm to the decision any longer.

[CryptoBuds]

I just saw you explaining profits to your wife, and I didn't see you mention the risks that bitcoin can bring to your wife. We all hope and expect bitcoin to hit a new ATH in the upcoming bull season, but no one can guarantee it, it's all just a prediction. So you need to be more honest with your wife talking about the risks of investing in bitcoin, her gold could be lost. If she still wants to take that risk, you can sell gold to invest in bitcoin. Don't forget the saying: invest as much as we can lose.

[Obari]

I hope your wife is okay with that!
If she is, I think you can sell it and invest in some crypto. Considering that we are now pretty low in the market, you will earn 2x, or 3x in a year or so.
I always thought that all this jewelry doesn't really important, what is important is real money and technology.

Yeah I'm on the same opinion with you that since the wife agrees with selling then it's fine and ok but I'm sure you know that just as you're expecting to make some profits, there are also possibilities of making serious losses as to blowing your account due to the high volatility of Bitcoin?
I'm sure you know of the risk involved in owning digital assets.
On the contrary of jewelries not been important, I think jewelries such as gold and silver and also diamond are as important as crypto and they also serve a two way job as an asset and also as dressing accessories that can also boost ones status in his society.

[Rikafip]

It was only necessity that forced me to sell my wife's jewellery.
In 2022 I lost a lot on several investments, most notably $4000 worth of cryptocurrency during the Luna crash and $1500 worth of crypto during the FTX bankruptcy. So right now I don't have enough liquidity in my pocket to invest. So I am forced to sell my wife's hobby jewelry even though it is very difficult.

For me necessities are food/utility bills/rent/medicine etc and not investments in high risk assets but to each his own.

Anyway, I wish you luck and I hope that you explained your wife the risks and not just "easy 10x" part so you don't have issues down the road if for whatever reason bitcoin doesn't perform as we hope/expect it will.

[Rruchi man]

whether selling my wife's jewelry and investing on bitcoins makes sense?

Some Jewelries are very expensive when sold because they can retain their value and still have second hand value if you wish to resell. As a matter of fact, most celebrities that you see buying and wearing very expensive jewelries, wristwatches etc. consider the jewelries as investments that they can always sell in the future should they need money. That is why they never really see buying original expensive jewelry as a waste of money.

Selling your wife's Jewelry to invest in bitcoin is a good move before the jewelries are lost to theft. I think every one should put this strategy to consideration, those looking to increase their investments in bitcoins and happen to have some valuable jewelries that they do not wear very often again and has a good second hand value. You can consider selling some off and invest in bitcoins.