I was in a hackathon back in 2014 and my group won a few bitcoins. We divided it up and I got one. I decided to keep it because it was only worth a few hundred dollars and I thought it was fun to own 1 bitcoin.
I know nothing about bitcoins. I would just check how much it was worth every so often but that's it. I do not count it in my net worth or think about it as an investment. I think of it more as a lottery ticket.
Fast forward to last December I realized it was about to hit 1k. I asked a few friends and one or two said to keep it. So I did. Now it just hit more than $2000. I still see the money as "not mine" since I didn't exactly put the money in. I know, I know every second I keep it in it's essentially me "buying" it. But even if the bitcoin dropped back to $1000, I couldn't imagine myself spending my money on buying bitcoins.
I'm 26. If I did cash it out I'd just throw it into my Roth IRA. I don't exactly need the money. I've paid off my student loans and currently have 0 debt. I'm also on track to put at least 18k into 401k/IRAs. My goal is 23k although I'm debating about increasing my emergency fund over completely maxing it out.
2k is of course a lot of money. It'll be nice to have. But since I have a weird psychological feeling that it's not exactly my money I think I'd feel completely OK if the 2k went to $0. On the other hand if it blew up to more than $20k I'd be extremely disappointed that I sold at 2k.
Submitted May 22, 2017 at 04:12PM by Hannachomp http://ift.tt/2rK2be3
