Why I sold half of my bitcoin

I'm only sharing this because I suspect many other people struggle with this decision and what is "the right thing to do".

I will surely end up regretting this decision, but then my life is littered with regret over making bad investment decisions at the wrong time. However, any regret I might feel is tempered by some peace of mind I have gained back.

The simple answer why I sold half of my bitcoin? Because I had risked more than I was willing to lose. It's truly as simple as that.

I have seen my paper bitcoin profit rise by over 400%. Both the current value of that investment combined with the amount I had originally invested was enough money that, were I to lose it all, it would be extremely painful.

Meanwhile, while holding this large paper profit, I had an equal amount of unsecured debt in the form of home improvements/repairs previously financed and my children's student loans.

By selling half of my bitcoin, I was able to completely pay off 100% of my adult children's student loan debt, something which was weighing them down heavily as they try to start their lives. It is a great relief and gift to be able to give them this fresh start.

In addition to paying off this unsecured debt I was also able to pocket substantial profit such that the remaining bitcoin I still hold has a cost basis of essentially zero. All I can lose now is paper profit, but I will always be able to say I made a great return on my bitcoin investment and helped improve the lives of my kids substantially.

Now that my remaining bitcoin has a cost basis of zero, it's much easier to let it ride indefinitely. If bitcoin ever does 'go to the moon' I will still do very, very, well. But if it has a massive price correction I can accept that much more easily.

Frankly Bitcoin is still a very risky investment. With threats of hard-forks and threats from the state, there are no long term guarantees.

I also did it for another reason. Because I had money at risk, certainly more than I was willing to lose, I was finding that I was feeling undue stress and anxiety about the bitcoin price roller coaster and that wasn't helping.

This post is not to convince any hodler to sell, ever. However, for those who are sitting on long-term paper profits and feeling high anxiety about it, maybe my story offers something​ to think about.

submitted by /u/jratcliff63367
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