I’m going to kick this paragraph off by saying that I’m not a financial expert, all of this is conjecture and that we aren’t responsible for any gains or losses you might experience following any investment or financial pursuits.
That being said, I have made a pretty big point out of Bitcoin being a currency during this article and making the worrying claim that one day there could be an ‘oh’ moment, where everyone realizes what they are hodling onto is actually worthless if nobody wants to buy it.
So, if I had a big wallet of Bitcoin right now, here is what I would do. First I would wait a reasonable amount of time so that I can generally recoup or grow on my initial investment to a reasonable degree. This is entirely luck-based, but it’s not unreasonable to expect Bitcoin’s price to grow.
I wouldn’t wait too long though.
Then, I would consider two options. The first would be to disseminate my Bitcoin into retailers and other vendors that accept the coins as payment. This has two advantages. One: I’m buying things for myself. Not a pizza, like that one guy, but long-lasting products or potential real estate depending on what’s available – bankable items that I can make money on in the future, but the second value is much more altruistic: that it gives credit and credence to the use of a coin as a currency.
No matter how big or how small the spend is, using Bitcoin as it was designed to be used is going to spark market interest and trust in Bitcoin as a currency solution. You can’t expect the value of a coin to grow if nobody is using it, and a decentralized, anonymous method of payment is too good a potential thing to screw over in a selfish bid to get rich off of market interest.
Yes, this might lead to losses, but hopefully, any rise in the price of Bitcoin could cover them, and you can repeat the cycle. It’s all about circulation and validation of Bitcoin in a market that’s still skeptical.
My other option is just to sell it all to other users interested in the coins, and reap the rewards. Selfish, but more reliable in terms of value and it will allow me to make other investments that could hold weight for longer.