I sold 100 BTC in 2017 for 1.5M USD - here's how I feel about it

This is for all those getting started or midway through the journey - there are many ways to "do it right" and you have to figure that out for yourself.

In late 2017, I sold 100 BTC (not my full stack) + all my BCH for an after-tax profit of around 1.5M USD. It allowed me to feel comfortable enough to take a year off from working and try out being retired. I never went back to work. (You can check my post history for yearly FI/RE updates and a few bitcoin topics + how I felt about this 4 years ago).

While my net worth has grown (from non-crypto investments and my remaining BTC) over the last several years, it certainly would have been higher if I had not sold the 100 BTC. I would have sold the BCH no matter what because fuck that garbage. I see people on here talk about never selling their BTC, but many seem to act like if you sell any, you must sell all. I don’t know why they see it as a binary situation, but that mindset comes out here over and over again. Maybe it’s because they own a small amount ($500 worth) so they can’t imagine selling $150 worth vs. the full stack (fuck it, just cash out?)

When you are talking about a really large amount of money (and that number is different for everyone based on your personal situation, where you live in the world, how you were raised, what social class you identify with) things get weird. I grew up poor. My grandfather always talked about “making a million dollars” as his life goal – so much so that my dad, who basically raised himself because my grandparents weren’t around, would say derisively “your grandpa was too busy trying to make a million dollars to spend time with his family.” So a million bucks struck me as a legit amount of money (even though I knew that to retire, I would need more than that) and when BTC soared to $20,000 and BCH hit the major exchanges like Coinbase, I felt like it was the right thing to make the move. I suddenly had stupid profits in a highly speculative and potentially restricted/illegal/who-knows-where-this-is-going instrument. It made sense to lock in some profits in case of some sort of implosion. Less seasoned HODLers might not realize just how weird the legal and financial landscape was at this time – it was a definite inflection point.

I’m sure some people wonder – do you wish you sold less, or none at all? The answer is both simple and complicated. On one hand, selling right then gave me the ability to quit my job and take care of sick family with NO worries whatsoever. That was really important in a really shitty time for me, to take away that financial stress and just deal with the day to day surprises that were being thrown my way. On the other hand, I now know I would have been fine economically without ever selling (due to other investments) and I’d now have around an extra 7 million before taxes (because my 1.5M cashout has grown in other investments). But then I have to ask – what would I do with that money? The answer is unclear. I have everything I want right now without the extra money. I have no debt. I have an old truck I like to drive. I have a decent bike. I own a house. I just don’t want a lot of stupid shit or a bigger house, or… I like being home. I don’t want another house (vacation or whatever). I don’t give a shit about fancy cars, clothes, stupid food, or trying to impress other dipshits. I could see myself travelling a bit more and with slightly higher quality accommodations but technically I could do that right now, so I’m sort of grasping at straws. Truly, I’d give the money away over time to organizations that can use it for stuff I care about (like art, education, and kids). I’m doing that now but on a smaller scale.

So my choice 8 years ago gave me financial freedom at the cost of current net worth. I was able to physically care for family, set up my niece with some college money (but not a free ride), and enjoy life without ever having to go back to work again. I may sound like I’m unwilling to admit faults but I really do think I made a rational choice. It did not maximize my wealth, but it did help my sanity – and I get to sleep in, or travel, or get whatever I need whenever I choose. So my material needs are fulfilled – that’s worth a lot. Also… fuck it, I still HODL after that set of sells I executed back at the end of 2017 so I’m still in it for the long haul, just not at 100% of original holdings.

Best of luck, and HODL on!

*Edit: I'm gonna go back into hiding so I won't answer any more questions on this thread. I'll probably do another FI/RE update in the spring and maybe post here in a year or two. Be well.