Re: When emergency hits. Will you sell your bitcoin or borrow and keep holding?
by on 06/12/2025, 06:57:07 UTC
I'm a person who don't like to ask for help from someone else, so I will not borrow money from family or friends, high likely I will sell my coins if my emergency funds aren't enough.
If you take a loan from banks or entities, you will have to pay the principal + interest. There's no guarantee if your Bitcoin investment will go up during the deadline you have to pay off your debt. Good luck to find an entities who willing to wait for 4 years if you really want your investment at profit.
Btw when an emergency hits, it's best to avoid selling Bitcoins, especially if it hasn't brought any profit to you and you are in a loss. In the best scenario, use your fiat savings and if you can take a loan and pay it back, then take a loan. If there is nothing else that you can do and you desperately need money, then you have no other option but to sell your Bitcoins. Consider that Bitcoin is an investment for you to later bring you some profit, it's not something to forcefully hold.
Taking a loan from family or friends require you to give them some stuffs or willing to lend them back, if you didn't want to lend them, don't be surprised if your friends will not be nice to you again because they feel you only want to take advantage over them.If you take a loan from banks or entities, you will have to pay the principal + interest. There's no guarantee if your Bitcoin investment will go up during the deadline you have to pay off your debt. Good luck to find an entities who willing to wait for 4 years if you really want your investment at profit.