₿ Bitcoin
Asset Guide · Crypto · very high risk
Bitcoin: the "digital gold"
The first and largest cryptocurrency. Enormous potential, with a roller-coaster that takes your breath away.
Programmed scarcity
Its biggest advantage: a hard cap
21 million
is the most bitcoins that will ever exist
No government can "print" more. That's why many see it as digital gold: a store of value against the devaluation of traditional currencies.
Why it sparks so much debate
Revolution or speculation?
For some
the greatest financial revolution of the century
For others
speculation without backing
The practical truth: it's a young, highly volatile asset in the process of adoption. It can multiply or crash.
The cycles · understanding this is everything
Euphoria and depression take turns
Cycle top
the worst time to buy
- Everyone is talking about crypto
- Price explodes, greed at its peak
Cycle bottom
historically, the best time to accumulate
- Nobody wants to know, "end of Bitcoin" headlines
- Price 70% below the top
The cycles are long and partly tied to the "halving": the event that cuts issuance in half every ~4 years.
Who wins with the cycles
Those who buy in euphoria and sell in panic lose. Those who do the opposite, with the patience to hold for years, usually come out ahead.
Seasoning, not the main dish
A 70% drop in a small position
Risk a little to potentially gain a lot: it's an asymmetric bet.
Illustrative example.
Who it's for
Where it makes sense and where to avoid it
Makes sense
1% to 5% of the portfolio
- A small position
- Bought at the cycle bottom
- Held patiently for years
Avoid
euphoria and leverage
- Buying at the cycle top
- Using money you need, or leverage
- Never your emergency fund
How to invest in practice
Two ways to own bitcoin
Exchange
Binance, Coinbase, Mercado Bitcoin
- Self-custody or held at the exchange
- You deal with wallets and keys
ETF or BDR on B3
the simplest way
- Skips the technical side
- No wallet or key to look after
Names mentioned only as examples, with no affiliation.
Remember this
Three ideas from the guide
- Scarce by designThere will never be more than 21 million: hence "digital gold".
- It lives in cyclesBuying in euphoria and selling in panic is how you lose.
- Seasoning, not the dish1% to 5% of the portfolio, only with money that can take a 70% drop.
Quick test · 1 of 2
Historically, when was the best time to accumulate bitcoin?
?
At the cycle bottom. When nobody wants to know and the price is 70% below the top. The euphoria at the top is the worst time to buy.
Quick test · 2 of 2
Where does bitcoin make sense in a portfolio?
?
Seasoning, not the main dish. Drops of 70% have happened several times: only allocate what you can watch fall like that, and never your emergency fund.
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