To me, it was a free lottery ticket. I bought in at under $0.08. Cashed out $300 yesterday to bring myself whole. So now I’m sitting on 3,500 remaining shares for free. Whatever happens happens... gonna let it ride until it will at least buy me a truck or it hits zero.
Keep it riding brother!!!
I have a small % amount of crypto in my portfolio - it flat out makes sense to diversify with it!
I am not a financial advisor, nor am I giving financial advice - but keep in mind short-term capital gains tax folks! Possibly it does not matter to you, but at the end of next year the IRS will be holding out their hand. So if you make 40%, assume you will pay 30-37% of that incremental gained income to the IRS.. Now, take all the negative debt interest rates in your current life (truck, car, tractor, boat, credit cards, etc.) - add all those up and add to the IRS contribution. If you are not confident you can make more than Debt+IRS, relative to your risk I would consider it a very risky investment, in the short term. After 12 months of holding a stock, you can claim long-term capital gains tax, this is far less and is typically around 15% for most folks.
Just some food for thought! I hope everyone makes a bunch! Be safe all!