Taking out a loan to buy bitcoin.

So i didn’t take out a loan to buy bitcoin but i did buy a fixer upper house at the end of last year and have been renovating it all on 0% interest credit cards . I have the money to pay for these renovations but that would mean selling sats to pay for it upfront . I think I would be a little bit fearful to take out a 20k loan and putting it in BTC but for some reason I hold 0 fear running up 20k on credit cards knowing I have the funds in Btc and can pay the cards off at anytime I’d like . I always envied people taking loans to buy BTC . BTC has made a lot of us a lot of money . If you had the balls to take out loans to increase your stack it probably paid out well !

I could have sold some BTC to put a larger down payment (lowering monthly payment )on the house in August but did not want to sell anymore BTC than I absolutely had to in order to get into the house. My family and my loan broker looked at me crazy when I was signing the loan agreements and was saying I believe BTC will be 100k before the end of the year . (BTC was around 60k at this time )I decided to put the bare minimum 3% down on the house . 3 months later we broke 100k. Had I put more down on the house I would have lost out on almost 100% gains !

Just sharing my story . My mom has since started investing in bitcoin as well . My dad is telling her he would invest everything in bitcoin if he was in charge of the money . I went from people looking at me crazy to people asking me how do they do the same thing ! Man I really love BTC and feel we still have alot of gains left on the table for this year . I hate being in debt . I’ve never really been in debt my whole life . But boy do I feel confident in holding my BTC and putting the home renovations on credit cards . Unfortunately my credit cards are almost maxed out and there are still renovations to be done . I want to build a fence around the back yard and will probably need to sell some in order to do this. I need a fence for my dogs or else I would wait. I will only be selling the bare minimum of what I need to get the home into the shape I am happy with . Everyone HODL your BTC. The more time that goes by, the more you look like you “ got lucky “ . Cheers everyone to being involved with the best asset of the century !

submitted by /u/Dayo22 to r/Bitcoin
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Quelle: bitcoin-en