Row 88460

Row ID: 88460 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 88460 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

I will try to simplify this as much as possible:

In september 2023, I took out a $25k loan (CC balance transfer, 5% fee, 0% interest for the first 12 months).

I put all $25k into bitcoin when it was around 25-27k. I bought 1 bitcoin. Brought my total holdings to 1.57.

When bitcoin was 65k this month (may), I sold 0.4 Bitcoin (worth 25k) and used that 25k to completely pay off my credit card debt that I took out in sept. (I will pay the taxes like I always have.)

Now I only have 1.17 bitcoin leftover. As of right now, it's worth about 80k. It bothers me deeply though because my 1.57 used to be worth over $111,000. And now I only have 80k. It's gut wrenching.

**QUESTIONS**:

Was it a GOOD idea of me to pay off the 25k debt by selling at 65k? Or do you think I pulled out too early?

Do you think I should've waited until September to pay off the debt to take advantage of the 0% interest for a couple more months? (The reason I didn't do this was because I was worried there was a chance bitcoin price might be lower in september than it is now) (although everyone thinks its going to go up over the next couple of months)

Do you think it was a bad move of me to sell bitcoin right now considering the fact that we just had a bitcoin halving and everyone is saying bitcoin is going to go up?

I understand it's never wise to take out debt to invest, but IF you were to just re-wind back to september and You from the future time traveled to talk to your september self and they told you to balance transfer credit cards to buy bitcoin, would you do it?

FieldValue
text I will try to simplify this as much as possible: In september 2023, I took out a $25k loan (CC balance transfer, 5% fee, 0% interest for the first 12 months). I put all $25k into bitcoin when it was around 25-27k. I bought 1 bitcoin. Brought my total holdings to 1.57. When bitcoin was 65k this month (may), I sold 0.4 Bitcoin (worth 25k) and used that 25k to completely pay off my credit card debt that I took out in sept. (I will pay the taxes like I always have.) Now I only have 1.17 bitcoin …
label r/bitcoinmarkets
dataType post
communityName r/BitcoinMarkets
datetime 2024-05-24
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url_encoded Z0FBQUFBQm5Lak83V0dmdjdhQjRTcHJVRDc5cjZ2SWhiMHJ5d1VHQ1E2QXFmYzl2LVFiUXFvMFRxQTB5ZHNtUjFvam1RM3FCWVNtY0Vxcl8tWGlOUVF0VWFGcng1dl9yMXljQWVDTXNoNklUV1M2YnByMGRseFdVanpabGhLUjlLcUxEQnloZG9wSV9DZXNERGdiWG9yRHU4eERJQnQzRDltenlBYk90YjJHRlpKa0tOMHJTUF9RUW03cTl2X2VjeHVOTW9MNUFSZXZKTEVPLWlZS2Z5UUl4Nl9JSzh2a1NSUT09

Raw Record

{
  "text": "I will try to simplify this as much as possible:\n\nIn september 2023, I took out a $25k loan (CC balance transfer, 5% fee, 0% interest for the first 12 months).\n\nI put all $25k into bitcoin when it was around 25-27k. I bought 1 bitcoin. Brought my total holdings to 1.57.\n\nWhen bitcoin was 65k this month (may), I sold 0.4 Bitcoin (worth 25k) and used that 25k to completely pay off my credit card debt that I took out in sept. (I will pay the taxes like I always have.)\n\nNow I only have 1.17 bitcoin leftover. As of right now, it's worth about 80k. It bothers me deeply though because my 1.57 used to be worth over $111,000. And now I only have 80k. It's gut wrenching.\n\n**QUESTIONS**:\n\nWas it a GOOD idea of me to pay off the 25k debt by selling at 65k? Or do you think I pulled out too early?\n\nDo you think I should've waited until September to pay off the debt to take advantage of the 0% interest for a couple more months? (The reason I didn't do this was because I was worried there was a chance bitcoin price might be lower in september than it is now) (although everyone thinks its going to go up over the next couple of months)\n\nDo you think it was a bad move of me to sell bitcoin right now considering the fact that we just had a bitcoin halving and everyone is saying bitcoin is going to go up?\n\nI understand it's never wise to take out debt to invest, but IF you were to just re-wind back to september and You from the future time traveled to talk to your september self and they told you to balance transfer credit cards to buy bitcoin, would you do it?",
  "label": "r/bitcoinmarkets",
  "dataType": "post",
  "communityName": "r/BitcoinMarkets",
  "datetime": "2024-05-24",
  "username_encoded": "Z0FBQUFBQm5Lak1xQ213blhDdGFGXzlacmVkeFdfRTFsNDU4c0dCSV80Qk5xMGtVeEpnMEJZaUg3VmNrT1VWc1FtZXZOMHZIR1dIRWUxX1dGcVlaQi1EZWJYWHFXSFJFLVE9PQ==",
  "url_encoded": "Z0FBQUFBQm5Lak83V0dmdjdhQjRTcHJVRDc5cjZ2SWhiMHJ5d1VHQ1E2QXFmYzl2LVFiUXFvMFRxQTB5ZHNtUjFvam1RM3FCWVNtY0Vxcl8tWGlOUVF0VWFGcng1dl9yMXljQWVDTXNoNklUV1M2YnByMGRseFdVanpabGhLUjlLcUxEQnloZG9wSV9DZXNERGdiWG9yRHU4eERJQnQzRDltenlBYk90YjJHRlpKa0tOMHJTUF9RUW03cTl2X2VjeHVOTW9MNUFSZXZKTEVPLWlZS2Z5UUl4Nl9JSzh2a1NSUT09"
}
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