A Practice To Continue
Even if you are completely sold out on altcoins, something I believe everyone should be doing is building a BTC stack. Not only is it a logical move, considering corporations, high net worth individuals and financial institutions want the security and history of the oldest and most secure Crypto but more holders also limits the supply. More people hodling BTC means that the supply shrinks and ultimately drives the price up, including alts. Let's be honest, most people in the Crypto space are largely speculators. Speculators are generally more concerned with the next big mover and generally tend to exclude Bitcoin.
Holding alts in the medium-term can be an extremely powerful strategy for increasing BTC holdings. I had a couple of alts performing really well in this bull run thus far. One of them being BTMX, the BitMax exchange token which recently rebranded to AscendEX. This token went from approximately $0.03 at the commencement of this run to an all time high of $3.26, which is more than a 100X in a very short amount of time indeed. Selling these sort of holdings for BTC can definitely give your BTC stack a massive boost.
I have a certain allocation of small to micro cap coins that I am waiting on, in the hopes that these can be converted to BTC after some very significant and explosive upside! This is then ultimately considered a BTC stack, as I am monitoring the BTC value for a permanent exchange at an acceptable level.
Multiple Stacks Means Multiple Approaches
Holding alts with the intention and strategy of converting to BTC is one way of indirectly accumulating BTC. Another approach is to simply buy on a regular basis and dollar cost average into building another stack. This approach can also be very rewarding because you will ultimately be able to gain some entries at significantly lower prices over time.
One of my main approaches to building multiple stacks is to send passive earnings to dedicated wallets and build unique and separate BTC stacks over time. This is obviously the best and most favorable approach because there is no cost, or work needed in order to gain the BTC! I focus very strongly on this approach and when I may seem to be a little quiet in regards to producing content, you can be sure I am most likely working on this dynamic. Though passive streams ultimately create BTC with zero effort, building and structuring them does require work and effort.
However, this is the type of work I really enjoy doing because it is a form of work that will continue paying you well into the future. It is not the typical once off exchange of your time for a monetary reward. In building theses stacks, I sometimes assign particular revenue to a separate wallet. I do this in regard to my CryptoTab earnings, as many have said that you cannot make money utilizing this service. Well, it all depends on how you utilize it. By doing this I have a BTC wallet that is dedicated to amassing CryptoTab earnings in BTC and I am able to remind myself of how wrong people can be and refer to as an encouragement to keep working at what works for me.
Due to the fact that you do not have to dedicate any time towards a system such as CryptoTab, or similar passive systems, the earnings are inconsequential as they will just continue to grow and grow as time goes by. Imagine you were passively earning thousands of satoshis a day since 2009! Sure, it will take time but that is all! All there is to do is simply keep checking your wallet and seeing your BTC stack grow! This is the mindset that becomes wealthy.
Another approach is to build stacks in a BlockFi or Celsius wallet. These will grow over time as well due to the compounding effect on the monthly and weekly interest being earned. I slowly add to these and simply allow them to mature and grow over time.
The Benefits To Multiple Stacks
In the world of Crypto, diversification is still one of the most important approaches to maintain, as it ultimately hedges you against potential threats. Hacks, exploits and other risks are very real and having your holdings spread across a number of wallets and services certainly does offer a significant amount of protection. I always consider this and implement this approach as much as possible. It does provide some peace of mind and I am sure many will possibly agree with this concept.
Please do not consider this investment advice. These are my thoughts and approaches in the market and serve to provide food for thought that may encourage personal research.
