3 Things to Do After Your First Bitcoin Buy
Most first-time crypto buyers agonize over whether or not to buy Bitcoin (CRYPTO: BTC). But when you pulled the BTC buy trigger, you probably didn't count on the constant nagging worry about what to do next. Before you start obsessively checking prices or buying every token in sight, check out three game plans that could help you make your crypto journey a success.
Bitcoin has had an up-and-down year, and it's no stranger to volatility. Expect more of the same in the months ahead. But viewed over the longer term, its rise has been meteoric. With fiat inflation on the rise everywhere, and state attempts to create digital cash alternatives gathering pace, some advisors think Bitcoin will become a serious hedge against rising prices.
Tesla (NASDAQ: TSLA) and its crypto-loving CEO Elon Musk have taken an unusual approach to its Bitcoin investment. Although its $1.5 million BTC buy in February might have looked like a long-term investment strategy, that's not what the company said. Tesla claims it wants to use Bitcoin as a source of shorter-term liquidity -- and true to its word, when Tesla needed cash to fund its projects in March, it sold a small percentage of its BTC holdings at a favorable price.
Source Fool.com
