Done with IBIT(reddit.com)

TL;DR: Today I am ending my IBIT DCA. I'm down 21% over 28 months and public sentiment is awful for digital assets RN. I consider myself a HODLer. I'm a member of the crypto class of 2018. I have a cold wallet where I stacked for years, but in 2024 I decided to start using the ETF for simplicity's sake. When I first began monthly DCAing into the ETF in February 2024, IBIT was then trading at $29.12. It will open on the next trading day at $34.86. That's a modest 19% return over 28 months. But the story is more complicated than that, because the ETF is currently trading at less than half of its 52-week high of $71.82. As an aside, over that same 28 months the "boring boomer" S&P 500 (VOO) is up 50.8%. In the past, I would have viewed this as an opportunity to get my average cost per share down—which currently sits at $44.16—meaning my actual return over 28 months is -21%. The price of the asset is driven by sentiment, and for a host of reasons—including a very clear and unpunished pump and dump by the American president—sentiment on all digital assets among the public is in the toilet. I'll go further and add that I think the crypto community's full-on embrace of the GOP, and having the Don Juniors of the world be keynote speakers at Bitcoin conferences, is going to keep it there for at least 40% of the US population in perpetuity. I'm not going to sell at the bottom because I'm not an idiot, but I'm also not going to keep shoveling my money into a furnace. I am up over the long term, but the gains to be had right now are slim. I think my journey is emblematic of some of the changes in the community. I got into Bitcoin as freedom money and became part of Wall Street's adoption. So now I'm going to sit on the sidelines, HODL, and wait for whatever the next chapter is. For now I'm going to be shifting that DCA into VUG or VGT. submitted by /u/NerdFarming [link] [Kommentare]