Adding BTC to my IRA Portfolio
Been following GBTC for about a month, and while it's trading at a mega-premium to actual BTC price, I think it may be worth it if I stay long.
GBTC is a part of the secondary/shady OTC sector of the market, where there is no regulation. Most mainstream investors won't bother with OTCs because of that, but heck, Walmart started there so, you never know. With BTC's price volatility, I can certainly understand that, but we all know where cryptocurrency is headed. So if you're looking to cryto-cize your retirement portfolio, jump in on it while the price is moderately low.
In order to do so, I placed a limit order for -15% of the current trading price of GBTC(on that day). With volatility, I was almost certain it would hit that magic number and initiate the auto-buy.
Since investing about 10 days ago, price is up ~12% and if predictions about the future value of BTC are even a quarter accurate, I'm in to make some nice return on my initial investment.
Unfortunately I was very late to the cryptocurrency market, or else I could be up (as of market close) about 400%. Shoot.