A viral post on Reddit this weekend shows the benefits of dollar-cost averaging into Bitcoin with small amounts every day.
In a compelling tale of persistence and financial prudence, a Reddit user embarked on a unique investment experiment, demonstrating the potential rewards of consistently investing small amounts, or dollar cost averaging, into Bitcoin. After 365 days of investing $5 per day, the Redditor accumulated a total stack of 0.075 Bitcoin. The average purchase price stood at $24,108.58, while the current price of Bitcoin was $34,158.20.
The Redditor also noted that they accounted for the 0.5-1.0% spread on each of their purchases, meaning the gains remained after adjusting for fees. The user indicated that they buy with Strike, a popular Bitcoin Lightning wallet, and then withdraw the Bitcoin to a hardware wallet, in line with industry best practices.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Frank Harris throws 4 TD passes in UTSA's 41-27 victory over East CarolinaFrank Harris threw for four touchdowns and UTSA defeated East Carolina 41-27 on Saturday to remain tied for the American Athletic Conference lead. The Roadrunners won their 12th straight regular-season conference game, and 14th consecutive including the Conference USA championship games from the past two seasons. They are tied atop the AAC with No.
Read more »
Frank Harris throws 4 TD passes in UTSA's 41-27 victory over East CarolinaNearly 50,000 fans packed the dome, making it the second biggest crowd in UTSA history.
Read more »
Frank Harris throws 4 TD passes in UTSA’s 41-27 victory over East CarolinaFrank Harris threw for four touchdowns and UTSA defeated East Carolina 41-27 on Saturday to remain tied for the American Athletic Conference lead.
Read more »
The Thing Director John Carpenter Has Message For Critics Who Gave Bad Reviews 41 Years AgoThe Thing's director John Carpenter has a message for the critics who panned his film, which is now a horror classic, upon its 1982 release.
Read more »
41-year-old man killed in I-15 crash near Nephi identifiedA 41-year-old man from Enoch has been identified after he was killed during a rear-ended crash on I-15 in Nephi.Sgt. Cameron Roden with Utah Highway Patrol said
Read more »
PHOTOS: Frank Harris leads UTSA to victory with 4 touchdowns against East CarolinaFrank Harris threw for four touchdowns and UTSA defeated East Carolina 41-27 on Saturday.
Read more »