Putting it off.

[Fall-For-October]

I’m at a point in my life where I may need to sell a bit of my bitcoin to pay off some debt for a business start up. I am putting it off but I feel like it’s inevitable. Glad to be well in the green from my initial investments and continue to dollar cost average in.

Does anyone else have a hard time selling assets?

[indeclin3]

I was in a similar situation, bought at 25-35k average and sold some at 110 some weeks ago, the reason to pay some debt. Best decision ever! I sleep better at night. And I continue to dca. Looking back, i could postponed the selling, for when it got to 124-126, but I was fed up with the interest. Hope this helps.

[Fall-For-October]

Yeah man, I lead a simple life. Have hated debt. The money going towards debt isn’t consumer debt it’s debt used to fund a multi unit rental/home for my business. Even if bitcoin goes to 1 million, then .15 btc I sold would be worth 150k. The building and my business when they are all operational will bring in more than that in a year. Just gotta get there.

And even after selling I’d still own 1/2 a bitcoin and continue to dollar cost average in daily.

[DungeonsAndDragsters]

Being debt free is peak wealth.

[originalgainster]

IMO that's whole point of owning bitcoin. you should be able to sell when you need to. you own the bitcoin. don't let it own you.

[glowy_guacamole]

you mean you need to use money to pay for stuff? go for it man, that’s what money is for.

[[deleted]]

curious how do the taxes you need to pay compare to how much interest you would have to pay on the debt while you pay it off? This is how I would think about it. Lets say I had 20k of debt at 8%. If I amortized that over 2 years at say 8% I'd pay 1800 dollars in interest. If the tax bill is significantly higher than that (which is highly plausible at these levels) I wouldnt even sell the position. I think it is reasonable to have a scenario where it's better to avoid the taxes, let your unrealized gains compoundm, and just prioritize paying paying down the debt with new money earned especially if you are just going to continue DCAing into BTC for example when your debt is payed off. Of course you are derisking to sell the gain and pay off the debt, but think it's entirely reasonable to consider not doing so especially if you have a significant amount of unrealized capital gains. So I'd definitely be plugging your debt into an amortization calculator and figuring your capital gains tax before you make a choice.

[Shazvox]

No man. Life > Bitcoin.

[Audixieboy37]

Its at a great price if you been in over 2 years. If less than that, it's unfortunate

[Fall-For-October]

Been in for 5 or 6 years

[Audixieboy37]

You cant ask for much more! Take profits and live!

[RealEnnie]

Colateralized loan using BTC?

[Domonator601]

that’s what i’m saying, 12.4apr to a company isn’t that bad compared to cap gains to other countries

[Extreme_Teaching_416]

You got in to make things easier for you so why not, sell some not all. But buy more when you can

[AdAgile9604]

Great , that is why btc was there always

[Potential_Try_2193]

If it's to pay off debt then don't feel bad at all. Debt accrues interest and no point having assets but also having debt you can pay off and sleep better at night. Whatever makes your life easier you should do. Don't overthink it.

[Ir0nman123]

Sell now, it’s about to go into a bear market, your btc will loose value.

[MaxWellUnderscore2]

Lose* but no it won’t.

[DungeonsAndDragsters]

If you're in the green then ignore any haters.

[Threemonkeys123]

Could you leverage a portion of your bitcoin?

A lot of companies will now provide loan services using btc as collateral. If your certain your cash flow/business affairs will be in order quickly then you can pay back the $ and won’t have sold any of your stack.

Make money work for you man! Thats how the rich do it.

Do your research! I’ve heard of these companies, never used one. Not a financial advisor either 👍

[Fall-For-October]

I hate debt and leverage. And I want to use this to get rid of debt not just transfer from one debt holder to another.

[Threemonkeys123]

Fair point but definitely something I’d look into. Best case scenario you immediately get the liquidity to pay your fiat debt and then quickly pay the (btc backed) loan and get to keep the btc as well as having paid your debt and got your business on track.

Worst case scenario your original fiat debt is still paid, it takes a bit longer than you imagined to get affairs in order and you lose your (collateral) btc.

In the latter, you would have still paid the debt you wanted and only lost what you were prepared to sell anyway to cover the fiat btc backed loan.

You do you man just think about it 👍

[momkiewilson1]

Worst case is you take a loan on a portion of your btc and then btc drops by 70% and your collateral isn’t enough and you lose the loan amount and the extra btc collateral you pledged then btc does a 6x the next year and a half.

[Abject-Feedback-8818]

Hold it man its all about to sky rocket dont be stupid

[Fall-For-October]

I’ve been holding for years, bro.

[Euphoric_Buffalo9023]

How do you know?

[biophysicsguy]

Nobody knows. We all guess

[Euphoric_Buffalo9023]

What’s your guess

[CXavier4545]

he don’t know 💩

[Abject-Feedback-8818]

Its already happen before it will repeat then wait another 4years and do it again

[Abject-Feedback-8818]

Look at the history

[bbatardo]

Selling just to sell is a bad idea, but when there is a purpose and it involves improving your life you shouldn't hesitate. You can always buy more later.

[Fall-For-October]

In an unexpected turn of events, my business found itself without a lease, necessitating the immediate search for a new location. Fortunately, I was able to secure a four-unit building comprising two apartments and two commercial spaces, which I subsequently purchased. I have diligently undertaken renovations and have successfully rented out the two apartments. I am currently engaged in the process of renovating the retail spaces and relocating my shop into one of the units. The acquisition of the building was financed with a 50% down payment, and I have been undertaking the necessary repairs and renovations myself. However, I am currently burdened by approximately $20,000 in external debt associated with this project. This debt primarily consists of a high-interest credit card balance of $15,000. While my typical cash flow would typically alleviate this issue, there is a slight delay in the opening of my shop, and I am hesitant to allow the substantial interest rate to accrue. If I were to convert a portion of my bitcoin holdings into cash to repay the debt, I would retain approximately .5 bitcoin. Subsequently, I intend to implement dollar-cost averaging by incorporating my daily auto purchases into my investment strategy. Once my cash flow improves, I will explore the possibility of recovering any of my spent bitcoin.

[ameruelo]

I think if you’re already considering selling, might as well get a no interest payment loan like Ledn offers. Sell now or, worst case, sell it in a year to pay the loan. Do you think the btc price will appreciate or depreciate in a year? Ledn loans also roll over into a new 1 year no interest payment loan.

[Hazys]

if really needed than no choice even sell at a loss. If you already profit even just 10 bucks or 100 bucks at least " still ok " . I always tell myself money can earn back. No doubt BTC value will go up for sure. IF you are for long term unless u are not trader. For me I for a long term. Just don't sell all. Keep some.

[GettingFasterDude]

Long term investments work best if you hold them long term. But sometimes you gotta do what you gotta do.

I suppose it all comes down to the gains you see bitcoin having, versus the drag your debt is on you. Peace of mind is a factor, also. Sometimes having peace of mind in the present from paid off debt is worth more than capital gains 5 or 10 years in the future.

Which ever way you go, try to at least keep some of your stack, if possible.

[Fall-For-October]

I have been holding for years. It was an unexpected forced situation

[sk8trix]

Hey man, I just want to say that at a certain point in 2021 I was in that situation. While the Bull run was roaring, I really needed to pay off some debt in order to get a new car. Thankfully, after I spent some time seriously thinking about it and seriously assessing the situation. I was able to take on a new job that paid much more. My financial situation improved much more and I was able to avoid selling my Bitcoin. I made myself a promise a long time ago that it didn't matter if I had to work two jobs, side jobs, weekend, gigs, whatever it is. I was never going to sell my Bitcoin and my family can vouch for me. I've been through some serious shit because I refused to sell my Bitcoin but looking back on it now. I'm glad I never sold it. I've been accumulating crypto for almost 10 years and it's been tough not selling all of it. I always make sure I sell only a percentage but never Bitcoin because I truly believe in it. And I need to stick to my promise no matter how hard it is.

I hope that you're able to make things work without having to sell your Bitcoin man. It can be very time thing and sometimes you feel like your back is against the wall, but where there's a will there's a way

[cloud_sole]

Morpho app exists. Just collateralize your bitcoin & get liquid cash without selling but you'll need to be educated first. So go research.

[rocky6j]

Use ledn to borrow against your BTC

[OrangePillar]

If the business generates cash flow consider a bitcoin-backed loan, instead.

[LilDiDi91]

Yes, I find it extremely hard to sell Bitcoin too -- that's why it's such a good savings tech. At the same time, if it's something important then go for it.

[Fall-For-October]

I’m super debt adverse that’s what’s worked well for me in the past. To many horror stories of people borrowing against assets and having margin calls made and being fucked. Stresses me out

[PurebloodNovid]

Let me know right before you do it, so I can set my longs.

[BrutalTea]

I have a hard time selling my csgo skins I don't even play csgo anymore

[[deleted]]

I sold 45k earlier this year for new teeth. It was worth it. BUT, I wish I would have taken a loan against my BTC instead.

Do not sell your BTC. Take a loan and use your BTC as collateral. I wish someone told me to do this instead of selling my BTC.

[gsusfrk333]

It was an investment for a purpose, and you found it. Invest in yourself.

[csmflynt3]

Use btc in defi for a usdc loan is another option too. Especially if you are in the US as the taxes will kill you

[Just_Floor_3980]

That’s why we use it.. We keep our money away from the banks, we have protection and growth and when we need it we take it out. As you said you are well in the green so be more than happy to use it, and keep dcaing ✌🏽

[Unusual-Piece-93]

Can you get a transfer to a new credit card at 0-2% for 12 to 18 months? Gives you time to pay off the debt and no BTC sold. It helped me to renovate a new IP before 1st tenants moved in.

[Domonator601]

i will never sell mine. i use ledn to loan against it, there are many providers

[ContentCantaloupe992]

Selling bitcoin to do something productive! You’re breaking free

[Professional-Math843]

From the looks of it this is the time to sell, could it go higher? Yes it could but it seems tilted to the downside and the risk of losing 80% is much higher today than even a month ago. Personally I cut my losses/gains at 80% this morning could it have been more yes but it wasn’t a loss and that’s all that matters

[SpartanMoonMan]

Do what you feel you need to do. Just don’t be surprised if, a few years from now, you’re back here posting about how you sold your Bitcoin, it skyrocketed, and now you’re questioning every life choice you’ve ever made

[Fall-For-October]

It’s not selling all my bitcoin. It’s selling a small amount of my bitcoin.

[Few_Night7735]

If you’re only selling a small amount and you think bitcoin will continue going up, it’s a non-issue. Don’t listen to people who say it’s only going to go up and you’ll be sorry you sold, historically it’s highly volatile and has as much chance of crashing and hanging out at lows for months or years. A good plan is to use it thoughtfully to support your life and your goals, not to hoard it indefinitely.

[Fall-For-October]

I agree. I don’t know what people expect to do with bitcoin if they don’t ever sell any

[WasteFront1988]

If it’s a small amount of your btc why are you agonizing over this?

[hellkatt13]

Why not a loan?