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Bitcoins hit $140 USD each

Published on 2013-04-08, by in Money.

There’s no big long winded article here because I’m speechless. I leave for a week and bitcoins were $90 each. Now it’s up to $140. I want bitcoins but not at that price. Are bitcoins in a bubble? Are they about to bubble? This is where “safehaven” transforms into “gambling” (what others call “investing for capital gains”). I want to buy Bitcoins because I think they will continue to rise. But  I don’t have the extra investment income to do it.

My advice: If you have over 100k a year to invest. Now is the time to slide 10% of that into Bitcoins. Before that though decide your exit strategy. When do you sell at what price? If they begin to drop when do you dump? Keep the other 90% for real estate and other residual income assets.

 

Example: Buy 10,000 worth of bitcoins at $140. Sell at 300 or when the price drops 5% in a single day/week. Problem is, because of the withdrawal limits can you even exit fast enough? The reduce withdrawal limit might be forcing this into a bubble as more people want in, but others cannot cash out?

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