I’m investing $12k into crypto over the next 3 months — here’s where I’m putting it

Photo by Bermix Studio on Unsplash

I’m absolutely not any type of financial expert (or crypto expert for that matter). Please take none of this as professional advice. Anything I say here is strictly my own opinion based on the research I’ve personally done.

Only very recently have I started to take my personal investing seriously. I’m still very new to the game, and I’m learning so much every week that it feels like info-overload. All I know is that I’m having a ton of fun finding out different ways to make sure future Kyle has a really good fucking life and that my children, grandchildren, and everyone after them does too.

My first priority is my Roth IRA. I’ve been maxing that out the last few years, but I know there’s more. And that’s where crypto started to seriously intrigue me.

There are a plethora of opinions on the world of crypto, but I really believe there’s a lot of money to be made here. I think crypto is our chance that our parents had during the early days of the Internet. And I think crypto could be even more lucrative.

Anyway — enough of that.

I’ve got $12k to use, and I’m putting it into a few select cryptocurrencies that have caught my attention. But I’m spreading it out over 3 months. From there, I’ll be setting up auto deposits because I really believe dollar-cost averaging is the way to go… especially if you’re choosing to play the long game.

It’s almost July and this ballgame got started earlier this month (June).

June 1st, July 1st, and August 1st I’ll be depositing and allocating $4k into the following:

  • Bitcoin ($BTC)
  • Ethereum ($ETH)
  • Solana ($SOL)
  • Dogecoin ($DOGE)

Bitcoin — 20%

The granddaddy of all cryptos — I remember hearing about this sucker back when it was $13 per coin. I also remember wanting to buy a few just because I thought it sounded cool. But I was a dumb, naive 18-year-old at that time. (Let’s be real, I’m still naive… just 11 years wiser haha).

There’s a limited supply of Bitcoin and I don’t see its demand slowing down. I feel this is a good investment based on the game of ol supply and demand alone. More and more companies are beginning to accept Bitcoin. I’ve seen a few banks and credit unions get in the game too.

Even the country of El Salvador is adding Bitcoin as an official tender starting September 7th. And this article talks about how every El Salvadoran adult who downloads the country’s cryptocurrency app will receive $30 in Bitcoin. I believe that’s a massive step in the right direction for the future of the coin.

Just this morning, I read about Cathie Wood suggesting Bitcoin to reach $500k per coin by the end of this year (2021).

Wood is known for making bold predictions. Wood received considerable media attention in February 2018 after she stated on CNBC that she believed Tesla stock could reach a price of $4,000 in five years, a 1,100% increase from its price at the time, and reiterated the claim in May 2019 after its price had dropped 29%. While Wood’s statement was widely ridiculed at the time, Tesla’s price reached her target on a split-adjusted basis two years early in January 2021. In November 2020, she stated she believed bitcoin could reach a price of $500,000. (Wikipedia)

All of this came together for me while $BTC was down about 50% from its all-time high. It has already proven it’s got legs to get to $60k. But I also believe this is just the beginning.

Ethereum — 35%

Ethereum is honestly kinda confusing to me, and I don’t exactly know what it does in terms of its use cases (because I barely understand blockchain in general). I’ve always associated $ETH with being the 2nd in charge when it comes to the world of digital tokens (behind Bitcoin).

All I know about Ethereum is that it makes transactions more efficient on the blockchain.

(Someone — anyone—please put me in my place if this is off-base).

$ETH briefly touched $4k per token a few months back and it’s sitting around $2100 per token right now. I’m ready to play so I feel this is a good entry point. It may go down, sure, but that’s with anything. I’m looking 20–30 years down the road and I don’t see any way it doesn’t get back to $4k… even in the next few months.

Investopedia is always a favorite of mine, and they’ve got a great article breaking down the differences between Ethereum and Bitcoin. Check it out here.

Solana — 35%

I have a personal friend who is somehow well-connected with the crypto community. I have no idea how he got his feet wet with it all, but he knows his stuff. He told me “Solana is like Ethereum but even more efficient” as far as its actual utility goes. I wish I could remember more of that first conversation about it, but he also mentioned that Solana is better positioned than Ethereum for companies like Visa and Mastercard to use.

$SOL is hovering around $30 per coin right now and it’s a bet I’m willing to go in on. Ethereum already went to $3,000+ per coin and I’ve got a lot of life in front of me so I’m here to play. I’m not at all suggesting that this theory of “Solana being more efficient than Ethereum” is concrete. But I believe certain people are put into our lives at the right times, and I’m taking action on this information.

Dogecoin — 10%

Lol.

For this one, I’m just here to play the game. $DOGE is down considerably from its all-time high. It’s already proven it can hit $0.70 (it’s around $0.25 per coin right now). Doge, in my opinion, will always be the face of the memecoins. I think there’s a lot of fun to be had here.

Should another coin unseat $DOGE as the king of memecoins, there’s no way it doesn’t enjoy a healthy rally during the battle.

Again, these are simply my personal opinions. I don’t believe anything just happens by chance. I needed to put together a plan and stick to it. Really, this is still just Day 1 for me. I just needed to get started.

Like I said earlier, if anyone is reading this who knows more than I do, please put me in my place. My opinions and beliefs are constantly changing based on the information I receive. I’m not here to drive anyone into investing before they’re ready—especially crypto. But for right now, I believe this is the right path to me. And I’m thrilled I get the opportunity to play this game. 🙂

I’m absolutely not any type of financial expert (or crypto expert for that matter). Please take none of this as professional advice. Anything I say here is strictly my own opinion based on the research I’ve personally done. Please do not ever invest more than you’re willing to lose. If you lose money, it’s almost never anyone’s fault except your own.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store