Started in October 2017 with the goal of 'enough bitcoin to retire'. Got the general idea from the FIRE community (financial independence, retire early) but instead of buying the S&P every month, I chose to buy bitcoin every month. So, basically I save as much as possible from every salary –> buy as much bitcoin every month as possible. When I have a stack of 1 million euros in fiat terms, I consider myself as successfully retired and most likely gonna quit my job. I document my journey in this blog that I try to update once per month, hopefully you like it interesting and motivating! And whatever your capacity and timing for stacking sats is, I'm pretty sure this kind of 'bitcoin retirement plan' is way more efficient than the government one, so starting anything similar is highly recommended. Enjoy reading!
Ps. doesn't work with shitcoins
But but if it doesn’t work with shitcoins and I can’t turn the 13 bucks I found under my seat into billions….. I’ll have to get a job /s.
This is the fucking way dearest shitcoiners.
I admire your discipline and conviction to ride through the ups and downs.
Love the post and the graphs! Really shows how putting some away every month soon adds up.
I remember you ! I was wondering what happened to you. Glad to see youre alive and well.
I was asking before and I will try again, how did you do the graph that shows BTC total stack and fiat stack
Hope it pays off
Are you planning on selling a % during the bull and then going to reinvest in the subsequent bear or is that too much tax headache?
return of the mack!!!!
Are solana/Ordi considere shitcoins?
Ah to be able to buy at 2017 priced again would be a dream.
It’s funny you mention you got the idea from FIRE as they absolutely hate crypto, but congrats to you on succeeding!
Do you transfer each BTC DCA to your cold storage? Isn’t it a problem if you have hundreds of small UTXOs if fees rise? Those small UTXOs can be unspendable.
What your avg cost?
May I ask where do you buy bitcoin and where do you store it?
Love the blog btw.
If I may ask, how are you planning to live off your btc portfolio? 1 mln euro is not enough IMO to just spend, unless you have like 6-7 years of life left. BTC „staking”? Converting it to stock and living off dividend? Other defi?
THIS IS THE WAY
Bro’s gonna be shocked when he finds out 1 million eint that much anymore.
How do you store it? Which HW?
So wheen you cash in your btc gains, how much taxes you expect to pay on it?
Bitcoin pros & cons with related info are in the collapsed comments below.
“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” – Albert Einstein
nice..hope you reach your goal
This is great but any analysis what would the situation look like if you stopped buying when the price jumped up in 2021? I would think the bulk of your gains are for the buys you did pre that year no and the buys since them have actually reduced your overall return?
Hey OP – Congrats and keep up the good work… do not become a writer when you retire.
Bullet Points for the people in the rafters:
OP invests 500€ of his monthly pay
His most recent purchase was at 39,100 € / BTC (or ~.013 BTC), giving him ~4.47 BTC total as of today.
The total amount invested after 6+ years is ~40k. 500€ one month at a time.
This strategy has thus far yielded a profit of ~330%, whereas the S&P strategy would have given me a profit of 42% for the same amount after 6+ years
1 million fiat is not very much money big picture
Only works if the asset just goes up.
Will the government ever stop expanding the money supply?
U got no pay increment for 6 years?
Respect from a former cryptobro.
My only concern is what the bank will say when the time for the final retirement cash out comes… Because its not easy sometimes, for a traditional financial system its an enemy and they do everything to make its interaction unpleasant. Good luck tho m8.
I remember you from way back! Awesome to see you still stacking btc! Can’t wait to see your retirement post! Hopefully this is the bull run that gets you to your goal!
I bought 5 BTC in 2012. Never bought any since.
A million euros isnt that much unless you are well over 50. While its perfectly possible to invest it so that you get enough to live off of it for the rest of your Life.
Taking 3k a month (which is still very average living) out of a million, the million wont even last you 30 years. But yeah, its not like you wouldnt generate passive income but its crazy how at The same time million is alot and isnt that much
Putting your entire life savings in BTC ain’t it. Number 1 rule of common sense investing is diversification. It may work out for you but there’s also a significant chance of failure. Godspeed.
So you are putting all eggs in one basket? Great
I thought the purpose of bitcoin is to become the new digital currency not something you buy and hold like buying an indexfund that pays dividends but use it a currency/medium of exchange. If everyone hoards bitcoin how is it supposed to replace regular fiat?
I rather buy hbar or cardano, better gains in the next bull market.
I’m still at a loss for having bought at a high 70k+ 😭
Love this. Thank you for sharing. I rather enjoy the style and read it in a generic Czech/german style accent and it makes the odd typos quite amusing.
I wonder if you’d started in say, 2021, how your performance would compare? I might go nerd out in excel now and make some similar charts.
Bonne chance with it all.
Are you gunna sell some of your 5.5 BTC when it hits $250K in 20 months then buy it back plus more when it drops to 60K???
Poor guy, all in on a shitcoin that you can’t even transact or use.
There’s no point at all of this, there is better original cryptos that gives you much greater risk/reward.
Forget all dogs and cats and buy original top 7 coins in 2017
When those run you really retire
The PS made me curious and I like spreadsheets so I ran some #s. If you did this with Ether…
I pulled the historical price data in $ from CoinGecko and got historical USD to EURO rates from a Google function built-in to sheets.
In 2017 I cashed out my 401k with heavy penalties…but bought 3 bitcoins.
Smartest financial move I’ve ever made.
That is great but I don’t think you should be banking on Bitcoin for your retirement. You should have other securities as well. diversify, and all that.
I’ve been doing this with ethereum over the past year, and full intend to keep buying every month for the next 5 to 10 years without touching it. Originally I was saving 1,000$/month and 200$ of that was on eth, 50$/wk. So basicslly.my savings is 80% low risk, 20% risky AF. However my risky AF balance is now more than the 80% in low risk investments. I just got a big raise, and don’t really NEED any of that extra money. So I have anew plan starting February.
I’ll be able to save about 1750$/month. I’m going to be doing 1000$ into the LR investments, and 750$ into crypto. I haven’t decided if I’m going to stick with ETH, or switch to BTC though.
TLDR; OP was lucky enough to buy early. That’s all.
If enough of us do this, then the value/price can only go up!
I can only stack ethereum…
How do you plan to cash them out? I mean you are located in Europe, me too, does your country have any regulation about btc regarding taxes?
What is your age range? I didn’t think it’s possible to retire on 1million honestly