If you’ve been consistently racking up bitcoins with your daily subscriptions to date, congratulations! Your investment has officially paid off, according to new analysis.
Tweet by Bitcoiner @w_s_bitcoin (also known as “Wicked”) said Monday that investors who continue to “dollar-cost average” (DCA) into the largest crypto assets can now say the strategy is working. “Weighted Average Cost” chart highlighted. It matters when they started investing.
DCA is a strategy in which an investor invests a fixed amount of money in stocks or cryptocurrencies at regular time intervals, regardless of asset price fluctuations.training It aims to reduce the stress and complexity associated with timing notoriously volatile markets and is often recommended by prominent Bitcoiners as a sensible alternative to active trading. .
According to the graph, the weighted average cost of Bitcoins bought as of July 3 was $31,233, the highest since June 2022.
“When the entire orange line falls below the dotted white line, that’s when all the daily DCAs benefit.” explained Evil.
This does not mean that all bitcoin holders are profitable, and certainly not those who bought in November 2021 for $69,000 and then did nothing. But those who have been regular buyers since then have made up for their losses by buying even when prices are low, such as when Bitcoin fell below $16,000 after the FTX collapse. .
“Regular stacking benefits everyone, even if Bitcoin falls 55% from its all-time high.” tweeted Bitcoin Standard author Saifedeen Ammos said Monday. “An amazing testament to the power of Bitcoin as a money-saving technology.”
Bitcoin is up 85.4% year-to-date, due to a drop in confidence in the banking system in March and increased confidence in the possibility of a Bitcoin spot ETF being approved in the US since BlackRock’s approval. supported by filing in june.
Property gains put MicroStrategy back in the profit zone. The company is one of the largest corporate holders of Bitcoin, 152,333 BTC The company’s executive chairman, Michael Thaler, is known to advise followers to never sell bitcoin.
