Under $100k will soon be the new under $10k

A few reflections on the past four years.

I bought my first sats in Feb 2021, added at the worst possible times during the bull market, and then spent three years lowering my cost basis my averaging down during a bear market. When I first got into bitcoin, I envied those who were 'lucky' enough to have bought when bitcoin was under $10k.

Well, it's not even four years later, and even my worst purchases are now up >70%, and my best purchases are up 5x (if only I'd bought more at the bottom!). Soon bitcoin will be >$100k and new entrants will envy the Class of 2021.

I'm looking forward to completing my first cycle. I've almost never sold a sat—I did sell some recently, but only so I could get some exposure in my tax free investment account (my ISA). We don't have BTC ETFs in the UK unfortunately, so I bought miners and MSTR instead.

The only depressing thought is that, as most of my lifetime earnings are in the future, I'll have to buy most of my bitcoin stack at higher prices than today!