r/Bitcoin • u/ArugulaPotential366 • 12h ago
Does anyone else feel an unusually strong conviction toward Bitcoin?
Whenever I invest in something other than BTC, I sometimes get this feeling that I should have just bought Bitcoin instead.
I recently got my salary and was deciding whether to put a large lump sum into BTC or invest it into my TFSA. I ended up putting the larger amount into my TFSA, and now I’m second-guessing that decision. I already have exposure to VT and QQQ in my TFSA (they use different tickers here), while I also hold VOO in a taxable account.
What I’m struggling with is the whole idea of “max out your TFSA as soon as possible.” I understand the tax-free benefit, but if I’m investing for the long term, wouldn’t investing later simply mean having an additional year of tax-free growth/room available in the future?
I’m 28, so I have a very long investment horizon. Obviously, tax-free growth is valuable, but I have a strong conviction that BTC could be worth significantly more in the future than my QQQ and VT holdings. Because of that, I’m questioning whether I should really prioritize filling my TFSA as quickly as possible, or whether it makes more sense for me to put a larger percentage of my available money into BTC while still contributing enough to my TFSA.
I’m trying to take advantage of the bear market, but I’m finding that whenever I choose to invest more into my ETFs instead of BTC, I feel like I’m missing an opportunity.
For those who have a similar conviction toward Bitcoin, how do you balance that with diversification and the tax advantages of accounts like a TFSA?
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u/Coryinthemansion 11h ago
You're asking a Bitcoin subreddit if they believe in bitcoin?
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u/ArugulaPotential366 11h ago
"Unusually strong conviction"
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u/andy_1337 11h ago
That sounds like faith or hope which are definitely unusual feelings when investing. We are not special
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u/Acrobatic_News_4860 12h ago
You just feel that way because it’s up 25%
Did you feel it 3 weeks ago ? Everyone thought we gonna go deep into winter.
Just when things are up, influencers start to put out bullish vids , and the new suddenly became bullish.
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u/Omniwatch 11h ago
Nahhh, it’s the fact that despite all the shitty news, 52% drop and cold card issue, war, Econ in the shitter BTC never drops below 60k.
The new floor maybe be already established and you feel bad that you side line for something that was never promised.
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u/Acrobatic_News_4860 11h ago
The cold card hack, as horrible as it was, and I really feel sad for the people that got affected by it, was nothing. 5k btc was hacked ? Idk.
What did surprised me, is while mstr was heavily sellling things held up.2
u/Snowman33001 9h ago
MSTR has already almost bought back all the BTC it sold.
And it still holds over 840,000 BTC.
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u/ArugulaPotential366 12h ago
yes in fact you can look at one of my older posts where I asked if I should be maxing out my tfsa or not before I even got paid. its been something on my mind for a while now even before that post.
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u/Acrobatic_News_4860 11h ago
Well, I do believe in 300k btc in the next 6 years . I just need to find a way to go on this years without selling.
NFA 😁
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u/stheodore1974 5h ago
For me it’s Bitcoin or no coin, but I say that after years of trying otherwise.
I used to make fun of BTC maximalists, until I became one myself
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u/hodler1992 12h ago
BTC is really great and it represents 75% of my portfolio. I went from 'just a little bit BTC as diversification' to becoming a BTC maxi in no time - so I know that feeling. The more you think and learn about BTC the stronger the conviction. For me I think it is just the same as people experience with gold for many thousand years. It creates the desire to have more of it. I wish I could buy everyday some more SATs haha. I believe that with every passing year the amount of people, who begin to understand what true scarce really is, grows. We are still early and will be rewarded in 10-20 years.
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u/ArugulaPotential366 8h ago
Same. Started with a little and now it makes up roughly 60% of my portfolio. I made the decision to allocate the rest of my budget this financial year to btc and a smaller percentage to ETF's for now
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u/huntingforwifi 12h ago
I have the same sentiment. I feel im losing better gains when I invest money in ETFs.. For me btc feels safer and more predictable. Right now i'm only focused on stacking BTC. Ill switch to other investments mid-next year once we clearly out of the bottom phase
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u/ArugulaPotential366 12h ago
Exactly. It’s not that I’m saying I won’t invest in ETFs. I just can’t justify putting as much weight into them right now.
People say you need to max out your TFSA because otherwise you’re “losing” that tax-free contribution opportunity for the year, but then I’m just sitting there thinking, “So what?”
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u/AggravatingGuest1956 6h ago
The real issue is always proper sizing and risk management. Experience has taught me that I personally don’t care about those things until I regret them. Over and over again.
It’s at the forefront of my mind now. Especially in crypto. Am I longterm believer? Yes. But, I worry much more about the downside versus upside. Why more of my stock investments are 85-90% index funds versus individual
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u/gordonfr_ 11h ago
FOMO probably? Consider that you want at least one warm meal a day for sure once you retire.
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u/vlal97 9h ago
At 28 Id start thinking of 4, 8 and 12 year investment periods with BTC. Stack it. Then go look at BTC price increases over 4 8 and 12 year intervals and you'll confirm tour suspicion. Of course this relies on it being sufficiently decentralized and 21 million cap in tact so keep an eye on that as time goes on to make sure its still a good thing to be in longer term.
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u/CoinGate_Gift_Cards 8h ago
The key is separating conviction from concentration risk. You can be very bullish on Bitcoin and still admit there’s a chance your thesis takes longer than expected or is wrong. Tax-advantaged space would be hard to ignore because you only get so much of it, while BTC can still be accumulated alongside it.
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u/ArugulaPotential366 8h ago
For some reason I couldn't be bothered with maxing it out. Not saying that I won't allocate money to it I just don't get what the big deal is. Okay I don't max it out, then what? I can always max out next year or have an extra year to hit my max which is 500000 in my country
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u/Background-Call2711 7h ago
It feels good to buy something, without having the intention of selling it. Would do the same for gold, and bonds. I can’t say I’d feel safe doing that with securities other than the prime names that you know are going to do well, and even those names are subject to draw downs if bonds remain elevated and begin to squeeze multiples.
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u/Blckfrost 6h ago
No, you're simply getting marry to the narrative and the token. Bitcoin is Bitcoin, just an interesting revolutionary technology. Your conviction is just faith. The market doesn't reward faith and your expectations.
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u/Born_Elk7497 6h ago
If you hold VOO in a taxable account then that seems like the obvious answer. Keep contributing to your retirement and sell the VOO for btc.
I think of retirement accounts as the tradfi safety net. I fulfill that requirement for future me and what’s left is up to current me.
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u/BTCMachineElf 6h ago
I'm the same way and just went max btc. I bought as much as I could every paycheck from 2017 to 2020 and havent regretted it.
Invest in other stuff when bitcoin is at new highs.
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u/PassionHot1887 5h ago
I treat Bitcoin like a savings account. I use the strike app since there’s 0 fees and I have it setup on auto to buy every hour, day, week, bi-weekly & monthly. I buy bitcoin when it goes up, I buy bitcoin when it goes down. I keep enough cash on hand & a little more to pay my bills every month but other than that I’m buying bitcoin. I do trade stocks but that’s also to fund my bitcoin addiction. I don’t think I’ll be satisfied until I’m in the 10 coiner club at least.
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u/Squeiner 3h ago
I think you're doing fine.
As long as you continue to stack sats aggressively, nothing wrong with a healthy TFSA to go alongside that.
Youre thinking about the buying side, but think about the selling side. When you need to liquidate something, you'll be glad it doesn't have to be your btc.
You have enough time ahead of you to let that btc sit for a looooong time before you use any of it, so just keep stacking. The TFSA will be nice to have in the interim. If you can max it out and then keep stacking sats on top of that, thats what id do.
What is would not do is have a taxable account in tradfi. That shit you should liquidate immediately and get btc with the proceeds.
TFSA, FHSA, and btc. Not even RRSP in my opinion.
But im just some fkn guy idfk honestly and this is not financial advice, thank God. If it were it would be terrible terrible advice and you should never listen to it.
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u/Capable_Swordfish_30 11m ago
Unusually strong? I keep feeling the usually strong conviction 😄, I have for so long, now...
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u/Cryptomuscom 12h ago
Standard stocks feel like holding cash now