Hold Or Sell? Hold Or Sell? Sum-Body Help Me!
The mystery of cryptocurrency.
A couple of weeks ago, I bought Dogecoin at .06 cents a share. I own 81, 000 shares. It cost me $5,000.
Today, I checked the price, and it was at .36 cents a share. That’s about $30,000.
I am facing the ever-present quandary of should I sell, or should I hold?
If I sell, I walk away with about a $25k profit. That’s five times my original investment.
But if I hold, three things could happen:
- It could drop back down to almost nothing;
- It could hold where it is forever;
- It could be the next Bitcoin and skyrocket in value.
Understand, I hold no illusions that Doge and Bitcoin are the same. I know the differences. Doge was created as a joke and has an unlimited supply. Bitcoin is taken more seriously and has a limited supply.
Supply and demand. Bitcoin keeps going up as supply diminishes. Doge keeps going up as people like me speculate it to new heights.
“Experts’ debate Doge regularly. Many say it is worthless and will never be another Bitcoin. Sell now and get out.
Billy Markus, co-founder of Doge says this in a recent Newsweek article posted on MSN:
When asked if he could ever see Dogecoin, or DOGE, hit $1, Markus explained: “It’s an open market, so the current value is simply decided by whatever someone is willing to pay for it at a specific point in time.”
The creator continued: “If the world collectively decides they are willing to purchase it for a dollar, then it’s worth a dollar. In the world of cryptocurrency valuations, I would say, historically the question is less about ‘why?’ and more about ‘why not?’”
So, do I risk it all and see where it goes? Well, the journey and the dreaming sure is fun. Imagine if it reached $1 a coin? That would be a $75,000 profit!
Imagine it leaped to $10 per coin? That would lead to a profit of $800,000!!
Imagine if it made it to one hundred dollars a share? That be $8,100,000!!!!
Hello? Life-changing time! I could get some super-white teeth veneers with texture from the veneer store. I can get a new hair transplant to replace the cheap one that failed. And I can even get my eyelids and lipo done! New life, new money, new man!
And it all might just be a “lottery-dream.” It could crash down today.
On the other hand, I ain’t got nothing else to do. I might as well watch the ebb and flow of the price until it stops.
Watch with me, as my “investment” teases me to potential fortune, fame, and lifestyle of the rich and famous.
Will it be a financial climax, or a frustrating rise to the “edge” and a quick, disappointing, pullback?
Stay tuned!
Chuck ‘don't ask me for money, I ain’t got any, honey’ Roast. Any math mistakes are not mine. I flunked junior high math, so the mistakes belong to the American educational system. Excuse me, could you please pass the blame?