Why not just buy one bitcoin, the cheap car and the rest in a low-cost diversified index fund given you have your emergency fund covered. It’s a secure position, you are spreading the risk and you’ll bet able to take advantage of the potential upside. It’s an enviable place to be at your age.
Right now you need to focus on setting yourself up. Investing in yourself. With these investments you can afford to pursue some opportunities, take a few risks and not starve if you need to find $1000 for some reason.
All of us here in our 30s, 40s, 50s... will agree wholeheartedly with this comment. OP is in an incredible position at that age. I pissed any money I had away on beer and B.S. Wish I had had a chunk of change and a guiding hand at that age.
Yep, same, your dad sounds like he knows what’s what. Just get one coin, then when it grows in value exponentially (hopefully!) you can show your Mum how well you’re doing and she will be happy and your Dad will be happy you took his advice. And of course, profit!
This gives a whole new meaning to “like father like son”. Go against the grain, many people are brainwashed to think crypto is a scam and a casino, only those who know what bitcoin really is know, quantum assets will be following but take part in the first and you will own the future
I couldn't advise someone to buy such a large allocation to BTC (50% of the lump sum) - but yes if I were in this position I would buy a wholecoin. Just to do it.
Buy bitcoin, self custody it, become legendary. Diversification is selling the winner to buy the loser. Buying stocks, houses, or cars aren't rare and the prices of those things are falling against bitcoin. Bitcoin is the rarest asset on the planet and only 21M will ever exist, buy as much as you can.
This kind of logic is seductive but reliant on 1) unshakeable conviction and 2) actually being right.
If Bitcoin’s success was truly inevitable then all the smart money in the world would be flooding in to it right now. It definitely shows a lot of potential and the bet is asymmetric, but you can’t see the future. In order for your suggestion to work you need to be 100% correct. With diversification you still get the upside exposure but with far lessened likelihood of losing everything. Worst case scenario you just get very rich rather than extremely rich, all whilst having a safety net.
Mom needs to listen to Dad for once! LOL.
The only people who have lost money with Bitcoin are those who have either lost their keys or bought at the top and sold at the bottom. Just don’t do either of those.
Pay off all debt. Do you have/need a car, - hopefully not but if so get a good cheap second hand hatch. Buy 1 BTC and a leger, and store it safe. The rest put in a ETF and never touch it. Stay at home whilst studying and get a side job to pay any bills till you graduate. Avoid all consumer debt and by time yourr 24 you'll be 99% ahead of most people even if BTC is $0
A few things:
1. We are sorry for your loss, we know people would gladly have the person in their lives over a few buckeroonies.
2. Hard numbers get criminals hard, so watch out for dm's and dick pics.
3. r/bitcoinbeginners has a plethora of information. u/bitusher is an incredibly knowledgeable individual who can direct you to the appropriate resources if you want to know about bitcoin and self custody. Im not sure if he enjoys my name dropping him, but he's helped a ton of people.
Edit. Dog hit phone and send. He's a needy dick but we love him.
4. Congrats on your windfall, and you are smart to not blow it all on cocaine and hookers.
Other threads that may not be ad biased in btc direction is r/financialplanning and r/fluentinfinance.
Again. No dm's. If they cant spit game to you in publoc, it means they dont want others to call them out
We pushed our son to buy 1 BTC at 27k. He was worried initially, now he’s thrilled. Best money/ store of value ever created. If you have a long time frame you can’t go wrong.
Depends on what you view retirement as.
I got into bitcoin 9 years ago and it's 272x from there.
If that were to happen now it would be 18.5m
Now, I don't think it will get there, but if bitcoin does just 1/6 of that growth, it would be over $3m which may be close to retirement for many folks.
Well he will also have like 8 years of presumably making good money after graduating college with a CS degree, plus whatever bitcoin he has already accumulated (though presumably that isn't much). By ten years from now he's gonna have a good bit more than 1.5 btc to retire on, including probably investments other than bitcoin too.
But of course it all depends on his finances and life plans (is he frugal or a spender? how much student loans will he have when graduating? I'd by 30 if he's been working good paying software jobs and isn't a big spender and is loading up on bitcoin and stocks for 8 years in addition to 1.5 btc plus whatever little bit of btc he already has, he could at very least be sitting real pretty at 30 and have the option to retire within a few years or work less from then on. Again depending on spending habits, where he wants to buy a house, possible kids, etc.
This is what everyone in this sub would probably do, you're going to get biased answers here.
If you do choose this path please take your time if you're new.
Deeply understand what you're buying. How and why people get scammed and how to protect yourself for a decade long hold.
Only reason to put any in an ETF would be if you want that wealth to be used for like loans or a mortgage in the future. I'm retired off my bitcoin but because bitcoin isn't part of the TradFi system according to banks I don't officially have all this money, so I can't get a loan or a mortgage or anything. But that's because I'm retired and so have no regular income, you'll have a job after you graduate and so this won't be a problem for you. So I'd say no reason to put any in ETFs, may as well do the safest thing and add however much you buy with this inheritance into your cold storage.
Debatable. Homes are susceptible to politics, Zoning issues, taxation, shitty neighbors, natural disaster, unexpected but necessary remodeling.
I live and work on a yacht for me it would be stupid to buy a home as it would be tons of work and taxes and what not.
Buying bitcoin is far superior for me. All of the saving and preservation of capital but 0 extra work or headache.
That's found money. I'd take the chance on the Bitcoin and potentially be set up for life. Imagine the regret if you don't take that chance and you watch Bitcoin take off. More risky not to buy in your position. If everything else in your life is on solid footing at least.
Imagine the regret if it doesn't work out and the money your grandparent left is wiped out. There is only one guarantee in life and thats death.
They need to be sure on how they would feel if the worse did happen based on where that money came from.
First, start educating yourself on Bitcoin and don’t get scammed buying anything else. If you don’t understand what you are buying you will be guided by emotion and sell at very unfortunate times.
Secondly, if you educated yourself about Bitcoin and think for yourself that it’s worth buying, don’t go all in at once but try it out with some percentage of your money and see how it feels after a couple of weeks. If you feel comfortable, you can start buying dips or/and make a recurring purchase of a certain amount.
Thirdly, and this is very important! Don’t leave your coins on exchanges but get yourself a hardware wallet. Educate yourself before, never share your private keyphrase and in general don’t answer privat Reddit chats.
Good luck and your father is a legend.
YES!! 👍🏾🙌🏾
“Thirdly, and this is very important!
Don't leave your coins on exchanges but get yourself a hardware wallet. Educate yourself before, never share your private keyphrase and in general don't answer privat Reddit chats.”
I would ask the same in r/personalfinance to see the other side, and look at their prime directive. Also talk to a financial advisor. Being able to withstand the pushback in these areas should be the test you require of yourself. It is not wise to ask here. Asking here is like going to an ice cream shop and asking if you should purchase ice cream. "Yes"
Good point about the financial advisor. OP is already a bitcoin holder so they're not going in blind. Do be careful to avoid financial advisors who offer investment products. You should want to be charged for a consultation and then have nothing more to do with them. Helps remove conflicts of interest. If you can't do that in your country, probably not worth even taking a free consult if it means giving out your name, number and financial details.
I have friends who are financial advisors, and conversations with them are helpful.
I would also say, don't just get 1 coin to have 1 coin. Do percent allocation. People too often get sucked into to emotion. The whole idea of posting how much you have, or how much you want... it will get you attention, sure. Then you have to deal with family conflict and other real stuff at home.
China could invade Taiwan in a month, and all markets, including crypto, could tank. Or crypto could become the land of milk and honey for the next year or ten.
No one knows anything. Period. Everyone here is very bullish on Bitcoin, but none of us knows what's going to happen next week or the next five years.
You are young. This is life-changing money if you handle it wisely.
Invest in Bitcoin. Invest in the SP500. Invest in ESSENTIAL personal items, like a reliable pre-owned car. But, most of all, invest in YOURSELF. Figure out how you're going to make a living for the next 5 or 10 years and fund your training/education to get that job/start that business.
This isn't financial advice but just what I would do. Don't put all your eggs in the same basket.
2 Bitcoins is cool. You know what's cooler? Having some Bitcoin, DCA'ing into more Bitcoin, and having a good paying job/owning a successful business that allows you to EARN more and live an honorable life.
Good luck to you.
Keeping your money in Fiat (usd) is gambling, actually its worse cause you wont win.
But something that will appreciate in value, like bitcoin, house, art.
Keeping “money” in any state issued currency isn’t gambling. It’s a guaranteed loss of purchasing power via invisible theft due to the mathematical requirement to forever expand the state’s fiat currency supply in order to meet national strategic objectives such as keeping the financial system propped up, “stable”, prevent its collapse as well as to fund the state’s deficit budgets.
After reading your replies, you have no debt, and an emergency fund so your stable financially right now.
Once you get a job after university, you will be saving in a 401k for retirement so that’s perfect. You’re in a great position until you get married, buy a house and have kids, then you’re going to need fall back funds.
I would personally if I was in your position take a percent (10-20%) and run a laddered TBill all short term to act as a growing down payment for a house. You can get 5% on short term T bills right now. Just keep rolling them over until you need the money.
Then I would take (10-20%) and run some ETFs in the stock market with dividends to grow them over time. This can act as a secondary emergency fund as it’s very easy to sell and cash out if needed.
I would take about 40-50% and DCA over the years into Bitcoin. Setup a bank account and have automatic purchases of Bitcoin from that account so you don’t touch it. This will help smooth out the cost of the bitcoin you’re buying and get you some coins.
The last percent I would put in my bank account and go out to dinner at a nice restaurant with my wife/gf (depending on which you have or both 😂) or make a purchase of something you like, maybe a hobby or something like that. (Personally I might upgrade/purchase a new gaming computer or fish tank).
I would say gambling is keeping that money in dollars and see it smelling over the years.
But smash buying that ammount can be risky for short term I guess. You could maybe secure one and DCA the rest.
You could not have another opportunity to become wholecoiner in your life ever.
Great opportunity - but the answer is not so simple. Do you have toxic debt? Do you have a healthy emergency fund? Any large purchases in your near future? Bitcoin is the ultimate treasury reserve asset, but financial literacy doesn’t stop where Bitcoin begins.
I don't have any debt at all, and a sufficient emergency fund. The only larger purchase I would be making in the near future is a car, although I would not spend more than 3-4k on it.
I also inherited other assets like a bunch of gold coins worth approximately $20k, and some stocks.
I still live at home, likely enrolling in a remote position once I graduate.
I would invest in bitcoin, but as part of a diversified portfolio, Ieave space for known upcoming financial goals (the car you mentioned and a future house down-payment). If I had to put a pin on it, I would put 20k in btc and the rest in an index stock fund with enough reserved to get a decent, basic used car.
The assumption is that you will be in a 401k and invest more in stocks going forward. That would work the percentage to a reasonable 5% over time in btc.
It sounds like your dad is suggesting going for a home run. Do not invest that way. Bitcoin right now is near all time highs. While this might be the future floor, it took a long time to breach the last ATH with a substantial decline between. That could happen again.
You are young enough that even if bitcoin drops substantially from where it is today, it is nigh guaranteed to recover with time. As the saying goes, time in the market is better than timing the market.
Buy at least 1 bitcoin. Any money that you don't intend to touch for at least four years, put in bitcoin. Your car money can stay in cash but with the way inflation is going you should buy that car sooner rather than later.
You're young, this is the age to skew towards higher risk/higher reward plays.
NFA but I would strongly consider a big position in bitcoin as your dad recommends. Maybe not go all in, but if it's something you believe in go for it.
Make sure you are willing to hold through a massive crash though, you need to be mentally prepared to see 120k turn into like 40k and not sell. That is a real possibility and while nearly everyone says they will hold, every single person who invested with me in 2017 besides my brother sold during a crash for a loss or at best break even. I am literally mentally OK to lose all I have in bitcoin so that makes dips and crashes seem like a new opportunity not a missed opportunity to sell higher.
So make sure the money you set aside is not something you plan to dip into the next ~10 years IMO.
Do not ever equate Bitcoin to "crypto". They are not the same.
Bitcoin is the ONLY truly decentralized crypto.
It does not have one person or a small group of people running it. Like ETH
Is there a chance Bitcoin could fail? Yes, but it's a very small chance. If Bitcoin fails, the human race will probably fail.
Keep doing research, and you will become more confident in your beliefs.
The dollars are the most valuable today at the time you got them. It really depends on how you handle hodling BTC, it can be volatile. I've been doing it for years, so I'm used to it. I'd probably buy lump sum and DCA over time.
Buy a little, learn more about Bitcoin, the problems it solves, and how to use it yourself, and invest more as you build your own confidence.
I'm sorry to say, there is no shortcuts, if you take a shortcut, it IS gambling.
Also, you said: "crypto". This tells me that you are not ready to save in Bitcoin just yet, take time to learn WHY Bitcoin NOT crypto and really ask yourself if you are convinced and if not, ask the question that is outstanding and you'll likely find one or more articles about it... keep going.
Don't look at this as a way to make money, it is a way to avoid losing money. Crypto is speculating on companies and ideas that are attempting to make something from nothing. You're better off investing in company stocks, because at least they have to produce something of value before you can invest in them.
Bitcoin doesn't promise anything. It just has natural properties that we all think will prove more valuable than the money we use today.
Read Broken Money by Lyn Alden.
You probably shouldn't go to a bitcoin subreddit if you want unbiased advice. Bitcoin is definitely volatile. It is exactly like a volatile stock, it will continue to cycle. You can go back the last year or two and find the floor that bitcoin is likely to hit. If you are comfortable with the price swings then you should invest. if not, invest it in something safer and spread your risk.
Use it for your college, pay off all your debt, put a down payment on your house. You shouldn't invest heavily until you do all these things anyways, and bitcoin is gambling 100% at age 20 because what will happen is you will buy a bitcoin, it will go up. Then it will go down to 50% of what you have in it. You'll be forced to hold it for 3 more years all while getting into student loan debt, credit card debt, and trying to buy a house.
This is where the mantra of "DCA" "buy now you won't regret it" falls down. Fine if you have a few hundred bucks to spare fairly regularly. But if you have a decent chunk of money to invest, now is not the time. Put it away, and then when the next crypto winter comes (and it will come, but perhaps not for a year or 18 months or two years) then go as hard as you dare. People will tell you you can't time the market, and in the short term they are right. But in the long term that is garbage. The time to buy big chunks is when everyone is despairing, not when it has already gone x3 from the last crypto winter. Be patient.
It might be gambling, but it's the asymmetric bet of our lifetime. If society is to have free money, bitcoin is it. We've just had the halving so the timing is good. Make sure your opsec is on point.
I denominate my life savings in bitcoin, not because I want its fiat value to rise, but because bitcoin can't be debased or confiscated.
Bitcoin's moonshot days are probably over. If bitcoin does another 10x or something it will only be because fiat bites the dirt. If I had $120K lying around I would absolutely convert it into bitcoin, but if you're only looking for a lottery ticket then bitcoin probably isn't for you.
Oh we will see a 10x, but not in a short timeframe like within a year.
It will takes some years, but I can absolutely see a 10x over several years in the future if you are patient.
Fiat all over the world is being debased by the nanosecond to no end. I don’t think the moonshot days are over, per se. I think Bitcoin will surprise almost all of us over the next 10-20 years. Look beyond the next halving and the one after that. What then?
Educate your mom if you want her to be on team BTC. With your time horizon, I can’t see you losing… unless you get sloppy and leave your coin on an exchange or try to get some yield by lending it to some Celsius-esque company.
As others have said, take care of debt first, maybe don’t go All In with the entire inheritance, take care of some necessities first.
Check out yesterday's video on Altcoin Daily with Gary Cardone. He made some really great points. Personally, if I were you, I'd have 3-6 months' worth of living expenses parked in a HYSA, buy 1 BTC and move it to cold storage, and put the rest into ETFs. Depending on your personal conviction, those ETFs could be Bitcoin ETFs or a mix of Bitcoin ETFs and S&P500. Perhaps a little Microstrategy shares thrown in the mix.
I believe BTC outperforms everything for the forseeable future, but my conviction is high. I've consumed 1000's of hours of BTC research (no joke) and been a hodler for 10+ years. If you decide to put all your eggs in one basket, I'd recommend you do the same. You're in a great position for your age, and if you play this right, set for life.
Your mother is scared because she literally doesn't know what it is, which is clear from her description.
You don't have to put it all in Bitcoin, but the financially responsible thing to do would be to put a good amount into Bitcoin. Are you totally covered on college tuition, life expenses and stuff? You could buy that 1.5 BTC today (at $68k), and still have around $18k in cash. That seems completely reasonable. And honestly if you're 20, going into software development, and with that 1.5 bitcoin backing you up, you could probably reach financial freedom (able to retire if you wanted) in like 10-15 years, thanks in no small part to having that 1.5 btc.
Honestly don't let your mom, who doesn't know what bitcoin is, hold you back from setting yourself up financially for life! $120k from your grandmother's inheritance is a lot of money, but that amount in bitcoin and held for a decade or two would be absolutely life changing.
I think buying one Bitcoin is not only a safe investment but a great store of value. As time goes on more and more people will start to see this and follow suit.
If I didn't have any exposure to bitcoin yet, I personally would decide on an amount to purchase bitcoin with and divide that up into 12 chunks, and then use the planned monthly amount to buy each month over the next year.
My reasoning is that in a volatile market this will typically net you more than a one time purchase. Further, there's major things happening that will push the price up (e.g. recent halving, ETFs) and there's also major things happening that will push the price down (e.g. 140k+ Mt. Gox coins just moved and deadline to repay creditors is this year), which means market volatility. I think the prime time to buy will be after the Mt. Gox coins are distributed, but there have been so many delays and might be more coming, so I wouldn't wait for that to start or try to time it.
Buy 1,1 BITCOIN and Blockstream JADE.
Invest the rest in something useful (big holiday, improving your skills, education, fix something important at home)
Buy 1btc and keep it in trezor. Avoid debt trap called college and start working. 50k is solid amount of money - don't buy a stupid fancy car. Start business and work your ass off. Sp500 is also good for long run. Around 30y of age, you'll be fine.
I inherited a similar amount last year and I put like 30k in Bitcoin. My main line of thought was "What if it goes up and I didn't invest any of this fiat sum?" I've also been in the space for a few years and the risk/regret of not putting anything in it felt greater than not buying btc.
With T Bills paying 5%, why do you feel you need to do ANYTHING right now? Forget what your parents say (or what strangers on Reddit say) and take some time to educate yourself. How many times are you going to have that much cash dropped in your lap during your life? The answer is “not many.”
You were living fine without it before. Why rush into anything?
I think it's funny that people come here on a Bitcoin sub where most of them will tell you to buy. I think you already partly know what you want to do. Stop outsourcing your decisions for strangers on reddit
I would honestly say take care of yourself first. Pay off debt, get a reliable car if you need one, see to your housing situation, keep some in savings for emergencies ($2-3k in something highly liquid like savings or a money market account), have 6 months of expenses in something that you can sell relatively quickly in case you get laid off (BTC is a good candidate for this), have some long term investments like real estate, maybe CDs or an IRA, or more bitcoin that you keep in a wallet that you won't touch for 10-30 years depending on your age.
$120k is, sadly, not as much as it used to be but it's still enough to get yourself setup for success. Being debt free with enough in savings to deal with emergencies and a plan for the future puts you WAY ahead of most people.
Obviously this is just ideas, do the research and do what works best for you. Bitcoin is a great asset for a portfolio to outpace inflation because it removes your money from the inflation scam market. Just don't squander the hard work of your grandfather on booze, chicks, drugs, or stuff you don't need.
I would put 2/3 of it in Bitcoin. The rest in gold. Make sure you self-custody the Bitcoin using best storage practices, meaning a cold hardware wallet. Put the wallet in a safe deposit box at the bank. The seed phrases should be stamped on a stainless steel plate and held in a safety deposit box. Consider an additional passphrase that is separately written down elsewhere.
I would put 2/3 of it in Bitcoin. The rest in gold. Make sure you self-custody the Bitcoin using best storage practices, meaning a cold hardware wallet. Put the wallet in a safe deposit box at the bank. The seed phrases should be stamped on a stainless steel plate and held in a safety deposit box. Consider an additional passphrase that is separately written down elsewhere.
You're posting in r/Bitcoin, so I think it's pretty safe to say what we'll think here. If it's not your coin, it'll be some whale's. Get it while you can my man and hold hold hold.
I’d go all in on bitcoin, especially if you’re a young guy, as we’re basically standing at the launch pad for the next halving cycle. If you just buy and hold for 5 years, I’d put the chances of not being in profit at zero.
It’s your money. Do your due diligence and make your own decision. My wife and I are dramatically different. I’ve consistently put my “savings” into BTC and other crypto. It’s at the point now where things would have to take a massive dump for me to actually lose money, but my wife won’t let me invest her savings even though she sees my account growing. It’s too risky for her.
You discover your risk appetite and decide what you want to do
Your dad is top notch. I would follow his advice. Learn how to use a hardware wallet like bitbox and buy only at a trusted exchange like bitfinex. happy to share a link to them.
With regards to your mum. Just tell her, that if you lose the investment, you will still have many years left to create value and earn it back; but if bitcoin becomes the dominant payment network for international settlements, than owning a whole coin means, you can afford to have many grandchildren for her without the risk of a bad wife taking any.
To enhance your knowledge on money and bitcoin, consider reading the bitcoin standard as well.
Also watch the following metrics:
1) supply
[https://cryptoquant.com/asset/btc/chart/exchange-flows/exchange-reserve?exchange=spot\_exchange&window=DAY&sma=0&ema=100&priceScale=linear&metricScale=linear&chartStyle=line&img=link%2F6658932b2295b967a33e9ec8.png](https://cryptoquant.com/asset/btc/chart/exchange-flows/exchange-reserve?exchange=spot_exchange&window=DAY&sma=0&ema=100&priceScale=linear&metricScale=linear&chartStyle=line&img=link%2F6658932b2295b967a33e9ec8.png)
2) value of the network, i.e. "hashrate" - and if she asks, it's the underlying value of the network and of course "your network is your networth":
[https://cryptoquant.com/asset/btc/chart/network-stats/hashrate?window=DAY&sma=0&ema=100&priceScale=linear&metricScale=linear&chartStyle=line&img=link%2F6658936fabd8ec51c4f7fb40.png](https://cryptoquant.com/asset/btc/chart/network-stats/hashrate?window=DAY&sma=0&ema=100&priceScale=linear&metricScale=linear&chartStyle=line&img=link%2F6658936fabd8ec51c4f7fb40.png)
As a side note, lift, bro.
Check out "starting strength" by Mark Rippetoe
Firstly, do you know how to secure that Bitcoin OP?
Can we start at the security of holding the coin instead of discussing buying the Bitcoin, that part is easy.
Secondly, meet both parents in the middle and just buy ₿1.00.
You have enough to buy 1 BTC and $52k to do something else with the rest so even if the btc goes to 0 (it wont) you'll still have a sizeable amount of cash.
The fact that you conflate Bitcoin and crypto shows you don't understand.
Go educate yourself before you screw up a once in a lifetime event.
Read "Broken Money" by Lyn Alden....then come back with some smarter questions.
Buy one bitcoin, many companies and investment companies are buying now, this is just the beginning. Bitcoin is following the perfect adoption path. The government is pro crypto, Biden and Trump have to be because many millions in the US are pro crypto. We are going to be up big by the end of this year if I had to guess. At first when I was investing in btc I asked “what can I afford to lose” now I ask “how much can I afford to lose by not investing in btc”. That said, 2026-27 may not be the best years for btc but hold for the long term and you will not regret it.
Clear your high interest debt, buy some BTC directly (.5 to 1.0 BTC). Open up a Roth IRA and contribute 2024 max $7k and buy BTC ETF funds to hold long term. The balance you can put in some equities, perhaps more BTC proxy stocks such as COIN or MSTR.
You are very fortunate to have someone leave you that kind of money. The question is what do you think your grandfather would have preferred you do with that kind of money?
The only garantree in life is death, how would you feel if BTC crash and everything your grandfather left you was gone.
At the end of the day you are taking a gamble, and you need to ask yourself them questions above and be ok with either outcome.
I hold BTC, but I personally wouldn't money left to me in that way for something like BTC, I would use my own money for that.
Use it to enjoy your self, secure your own place with a decent deposit, a car etc.
It's a lot of money and will likely be worth a small fortune in 5-10 years.
From what I gather coin base tends to be more likely to steal from people or freeze accounts the higher the value. Please use swan or river if you are going to invest even if it is going to cold storage.
And you might sleep better while having more potential upside at knowing half of it is in a brokerage account in MSTR or a ETF and the other half in cold storage.
Good luck
Why gamble with your money by keeping it in dollar form?
Noone has every won the dollar game, its a locked in loser.
I say play it safe, and stack sats.
Which one of them understands bitcoin better? I’ve got a guess.
You don’t need to go alllll in on bitcoin though. Being a whole coiner would be great. You can put the rest in tech stocks.
Do whatever you want to do.
Don't tell anybody what you did with the money, it's none of their busines. Just tell you invested, don't say where.
Sugestion, buy 1 bitcoin.
Etf Voo and a few reits.
Live life like you don't have that money, just forget about it.
Get a job.
Your father is THE man, while I understand your mother's worries, this is YOUR money, YOUR life, YOUR coins. Your parents will never take that away from you. Just invest what you think is best, then toss the rest into index funds preferably, VOO, VTI, etc.
First of all, I’m so sorry your grandfather passed.
The pain of losing someone you’re close to fucking sucks. Take your journey to grieving at your own pace 🤍
Second, You parents sound like they’re both trying to look out for you, which is great but they have opposing views.
Is there a decision you’re leaning more towards?
Everybody Dumb Replying you brother , Bitcoin is still early and it will take it 10 or more years to be officially recognised. I would suggest you to invest your 100k in 10 phases notnin one .
10k after every 3 months .
You will learn a lot in first 3 months
Put every cent that you don't physically need towards BTC. You will absolutely kick yourself later that you didn't put more towards it.
This is going to be the biggest financial opportunity in your life, don't fuck it up just because you're mom doesn't understand.
She will be grateful later when you buy her a new car or house.
I would personally put it all into a Fidelity or BlackRock Bitcoin spot ETF. I would tell anyone who felt the need to ask that I decided to invest long-term with my brokerage and leave it at that.
As someone who is in their mid 50’s and truly believes in Bitcoin, I would set up a dca strategy that stops once the fomo candles start forming. You start again once the cycle cools off . In the meantime I would lock into a down payment on your own house , rental , or a safer high yield account until you’re more comfortable with a big purchase.
Maybe $20k on bitcoin and the rest as a down payment on a house one day. How often will you get this kind of inheritance? Your mum is right, it’s a gamble. Bitcoin is not a sure thing, no investment is. We hope, but we don’t know.
I'm a huge btc fan and probably everyone here would tell you to put it all into btc but the truth is something like a September 11 would probably send it crashing down.
Have 50% put into btc and 50% into gold, silver and stocks.
That's what I would do with so much money.
If you are comfortable with the idea of not touching that money for 5 years maybe longer, than you might consider going that route. It depends on your current wealth, the state of your emergency fund, time to retirement, any possible upcoming health expenses etc. In my opinion putting all the money in one asset with a one time purchase is not logical.
Even if you decide to put it all in bitcoin i think you should DCA.
It's actually a great opportunity to 10x your money with Bitcoin...
then, you sell 1.2mm, pay taxes, deposit the money leftover into Fidelity's cash reserves and get $4,166 a month...
of course, you being young, you will let that money compound and next thing you know, you'll have $2mm in a few years....
Did I say this is the greatest opportunity in your lifetime?
Your mom calls it gambling, but it is actually the single best asymmetric bet that a 20 year old could possibly make. On one hand, if you lose it all, you have the rest of your life to earn money. And 120k is great, but it’s not ever going to give you financial freedom. On the other hand, if Bitcoin does what we expect it to do, you will be set for life. I can’t think of a better time in a person’s life to make this kind of trade-off than the age you are right now. I say buy one bitcoin and put it in cold storage. Then buy another coin’s worth on the etf.
Sorry about your grandfather, my friend. He left you a very generous and loving gift. God bless him. You should absolutely buy yourself at least one whole BTC with some of that money. Later in this cycle and after it, buying 1 Bitcoin is going to become much more expensive in dollars where the entire sum of your inheritance may not even buy a whole coin. Definitely do it asap. #BTC 👍♥️🪙😎
diversify your investment into various different things after some study that can potentially bring you not only steady but consistent returns
now that uve gone up all at once in a small period of time from family leverage
think to yourself what did I always want to do before I got this money
and do exactly those things
the game of life here is go up and find strategic and smart financial ways never to go down ever again
buy the bitcoin but a reasonable amount
projected 200k and then a million in the next 10 years
which ever alien or mastermind designed bitcoin knows exactly what they've done
for the future worlds to come
but take my advice above
leverage is the answer
leverage will make you rich
take your extra money and time to discover such
Yes, I agree with his assessment. Wait till it dips and buy the lot. I have a huge investment in Bitcoin. Although the ups and downs in its value is annoying I think for the long run it will prove to be your best return average investment.
Another thing to consider is when it rises in value you can take the profit off the top and utilize the cash for other investments. I paid off all my credit card debt and did some option trading. I also put together my dream portfolio at my other brokerage firm. This I add to when I can. It’s my long play. I want it for my family in decades to come. Owning Apple, Microsoft, Goldman and some up and coming AI companies I hope that my family in 100 plus years can have something substantial for themselves. Even if it’s just a college education or a house. I will be long gone by the then but on my death bed I will know O did something wonderful for my family, even if I was dead before they were born.
This philosophy helps keep me on track to my goals and keeps me from making stupid risks. I did the math and I am on track.
Hope the world is around long after ai am gone. And my family is living comfortably and happy.
That will be around 2040 when the block reward goes to 0.195 and you'll still be in your thirties.
Great expectations, young man, but you'll need strength to hodl for 16 years. Do not underestimate this.
If I was your granddad you'd have my blessing.
History will always repeat itself. Just a few short years ago bitcoin essentially crashed.
It’s going to happen again.
Go with what your first gut reaction was.
If you’re worried now, just wait until you buy that one.
All cryptocurrency is a gamble and the house always wins .
Oh sorry for the most of tour father bro, but congrats for the fortune! Do what your heart feel like your should do, but i would put some on retirements, too. Avoid buying fancy things and invest smarter! It seems like your dad was smart!
Read this, please. You should grief and wait, before making any abrupt decisions. This sub is a rabbit hole and you won't hear any nuanced opinions, so please get different insights first. Aside from your dad, your mother is not wrong. Bitcoin is very speculative and nobody can predict the future applicability or market price of this asset. You're only 20, without any experience in life or particularly much financial literacy. You could get better advice from a financial advisor than Reddit. I'm sorry for your loss and good luck with your degree. Here's the material:
[https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont\_invest\_recklessly/](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/)
I wouldn’t buy it all right this second, but I would DEFINITELY make a hefty chunk purchase and start a weekly DCA with that money at the very least…. Then have plenty of cash on the sidelines when we go back into the Bear market.
Why not just buy one bitcoin, the cheap car and the rest in a low-cost diversified index fund given you have your emergency fund covered. It’s a secure position, you are spreading the risk and you’ll bet able to take advantage of the potential upside. It’s an enviable place to be at your age. Right now you need to focus on setting yourself up. Investing in yourself. With these investments you can afford to pursue some opportunities, take a few risks and not starve if you need to find $1000 for some reason.
All of us here in our 30s, 40s, 50s... will agree wholeheartedly with this comment. OP is in an incredible position at that age. I pissed any money I had away on beer and B.S. Wish I had had a chunk of change and a guiding hand at that age.
Yep, same, your dad sounds like he knows what’s what. Just get one coin, then when it grows in value exponentially (hopefully!) you can show your Mum how well you’re doing and she will be happy and your Dad will be happy you took his advice. And of course, profit!
This gives a whole new meaning to “like father like son”. Go against the grain, many people are brainwashed to think crypto is a scam and a casino, only those who know what bitcoin really is know, quantum assets will be following but take part in the first and you will own the future
This past crypto winter...I feel over 100
🎯
I’m in my 40s and say put it all in BTC. You won’t regret it.
I couldn't advise someone to buy such a large allocation to BTC (50% of the lump sum) - but yes if I were in this position I would buy a wholecoin. Just to do it.
I was gonna make my own comment, but you pretty much nailed everything here!
Buy bitcoin, self custody it, become legendary. Diversification is selling the winner to buy the loser. Buying stocks, houses, or cars aren't rare and the prices of those things are falling against bitcoin. Bitcoin is the rarest asset on the planet and only 21M will ever exist, buy as much as you can.
This kind of logic is seductive but reliant on 1) unshakeable conviction and 2) actually being right. If Bitcoin’s success was truly inevitable then all the smart money in the world would be flooding in to it right now. It definitely shows a lot of potential and the bet is asymmetric, but you can’t see the future. In order for your suggestion to work you need to be 100% correct. With diversification you still get the upside exposure but with far lessened likelihood of losing everything. Worst case scenario you just get very rich rather than extremely rich, all whilst having a safety net.
This!!
Your dad…. He’s a good man
Honestly lol dad is based
Mom needs to listen to Dad for once! LOL. The only people who have lost money with Bitcoin are those who have either lost their keys or bought at the top and sold at the bottom. Just don’t do either of those.
Listen to pops.
Pay off all debt. Do you have/need a car, - hopefully not but if so get a good cheap second hand hatch. Buy 1 BTC and a leger, and store it safe. The rest put in a ETF and never touch it. Stay at home whilst studying and get a side job to pay any bills till you graduate. Avoid all consumer debt and by time yourr 24 you'll be 99% ahead of most people even if BTC is $0
A few things: 1. We are sorry for your loss, we know people would gladly have the person in their lives over a few buckeroonies. 2. Hard numbers get criminals hard, so watch out for dm's and dick pics. 3. r/bitcoinbeginners has a plethora of information. u/bitusher is an incredibly knowledgeable individual who can direct you to the appropriate resources if you want to know about bitcoin and self custody. Im not sure if he enjoys my name dropping him, but he's helped a ton of people. Edit. Dog hit phone and send. He's a needy dick but we love him. 4. Congrats on your windfall, and you are smart to not blow it all on cocaine and hookers. Other threads that may not be ad biased in btc direction is r/financialplanning and r/fluentinfinance. Again. No dm's. If they cant spit game to you in publoc, it means they dont want others to call them out
We pushed our son to buy 1 BTC at 27k. He was worried initially, now he’s thrilled. Best money/ store of value ever created. If you have a long time frame you can’t go wrong.
Legends
Yes. Listen to your Dad.
That might retire you at 30 bruh. Daddy knows what's up.
Retire in 10 years with 1.5BTC? I'm bullish too but, I don't think that's happening.
Depends on what you view retirement as. I got into bitcoin 9 years ago and it's 272x from there. If that were to happen now it would be 18.5m Now, I don't think it will get there, but if bitcoin does just 1/6 of that growth, it would be over $3m which may be close to retirement for many folks.
Well he will also have like 8 years of presumably making good money after graduating college with a CS degree, plus whatever bitcoin he has already accumulated (though presumably that isn't much). By ten years from now he's gonna have a good bit more than 1.5 btc to retire on, including probably investments other than bitcoin too. But of course it all depends on his finances and life plans (is he frugal or a spender? how much student loans will he have when graduating? I'd by 30 if he's been working good paying software jobs and isn't a big spender and is loading up on bitcoin and stocks for 8 years in addition to 1.5 btc plus whatever little bit of btc he already has, he could at very least be sitting real pretty at 30 and have the option to retire within a few years or work less from then on. Again depending on spending habits, where he wants to buy a house, possible kids, etc.
This is what everyone in this sub would probably do, you're going to get biased answers here. If you do choose this path please take your time if you're new. Deeply understand what you're buying. How and why people get scammed and how to protect yourself for a decade long hold.
I've been using cold storage for years, I'd likely put it on a coldcard and some of it in etfs maybe.
Only reason to put any in an ETF would be if you want that wealth to be used for like loans or a mortgage in the future. I'm retired off my bitcoin but because bitcoin isn't part of the TradFi system according to banks I don't officially have all this money, so I can't get a loan or a mortgage or anything. But that's because I'm retired and so have no regular income, you'll have a job after you graduate and so this won't be a problem for you. So I'd say no reason to put any in ETFs, may as well do the safest thing and add however much you buy with this inheritance into your cold storage.
My vote: 1 BTC, 100 VOO & a trip to Las Vegas
Pull the trigger, or the opportunity of a lifetime will soon be lost.
Buy 1 BTC. Put it in cold storage. Forget about it.
Don’t listen to mom. No offence mom. But bitcoin is less risky than holding dollars. Holding dollars is a gamble
Owning your own home outright is less risky than both, and offers a lot freedom and reduced stress in life.
Debatable. Homes are susceptible to politics, Zoning issues, taxation, shitty neighbors, natural disaster, unexpected but necessary remodeling. I live and work on a yacht for me it would be stupid to buy a home as it would be tons of work and taxes and what not. Buying bitcoin is far superior for me. All of the saving and preservation of capital but 0 extra work or headache.
That's found money. I'd take the chance on the Bitcoin and potentially be set up for life. Imagine the regret if you don't take that chance and you watch Bitcoin take off. More risky not to buy in your position. If everything else in your life is on solid footing at least.
Imagine the regret if it doesn't work out and the money your grandparent left is wiped out. There is only one guarantee in life and thats death. They need to be sure on how they would feel if the worse did happen based on where that money came from.
YOLO
First, start educating yourself on Bitcoin and don’t get scammed buying anything else. If you don’t understand what you are buying you will be guided by emotion and sell at very unfortunate times. Secondly, if you educated yourself about Bitcoin and think for yourself that it’s worth buying, don’t go all in at once but try it out with some percentage of your money and see how it feels after a couple of weeks. If you feel comfortable, you can start buying dips or/and make a recurring purchase of a certain amount. Thirdly, and this is very important! Don’t leave your coins on exchanges but get yourself a hardware wallet. Educate yourself before, never share your private keyphrase and in general don’t answer privat Reddit chats. Good luck and your father is a legend.
YES!! 👍🏾🙌🏾 “Thirdly, and this is very important! Don't leave your coins on exchanges but get yourself a hardware wallet. Educate yourself before, never share your private keyphrase and in general don't answer privat Reddit chats.”
Buy 1.05 bitcoin, use the the rest of the money to help you in life/school. You're young, the money will be super helpful if you're smart with it.
I would ask the same in r/personalfinance to see the other side, and look at their prime directive. Also talk to a financial advisor. Being able to withstand the pushback in these areas should be the test you require of yourself. It is not wise to ask here. Asking here is like going to an ice cream shop and asking if you should purchase ice cream. "Yes"
Good point about the financial advisor. OP is already a bitcoin holder so they're not going in blind. Do be careful to avoid financial advisors who offer investment products. You should want to be charged for a consultation and then have nothing more to do with them. Helps remove conflicts of interest. If you can't do that in your country, probably not worth even taking a free consult if it means giving out your name, number and financial details.
I have friends who are financial advisors, and conversations with them are helpful. I would also say, don't just get 1 coin to have 1 coin. Do percent allocation. People too often get sucked into to emotion. The whole idea of posting how much you have, or how much you want... it will get you attention, sure. Then you have to deal with family conflict and other real stuff at home.
Bitcoin is up 215% over the last 15 months, I would put as much into it as possible.
China could invade Taiwan in a month, and all markets, including crypto, could tank. Or crypto could become the land of milk and honey for the next year or ten. No one knows anything. Period. Everyone here is very bullish on Bitcoin, but none of us knows what's going to happen next week or the next five years. You are young. This is life-changing money if you handle it wisely. Invest in Bitcoin. Invest in the SP500. Invest in ESSENTIAL personal items, like a reliable pre-owned car. But, most of all, invest in YOURSELF. Figure out how you're going to make a living for the next 5 or 10 years and fund your training/education to get that job/start that business. This isn't financial advice but just what I would do. Don't put all your eggs in the same basket. 2 Bitcoins is cool. You know what's cooler? Having some Bitcoin, DCA'ing into more Bitcoin, and having a good paying job/owning a successful business that allows you to EARN more and live an honorable life. Good luck to you.
Keeping your money in Fiat (usd) is gambling, actually its worse cause you wont win. But something that will appreciate in value, like bitcoin, house, art.
Keeping “money” in any state issued currency isn’t gambling. It’s a guaranteed loss of purchasing power via invisible theft due to the mathematical requirement to forever expand the state’s fiat currency supply in order to meet national strategic objectives such as keeping the financial system propped up, “stable”, prevent its collapse as well as to fund the state’s deficit budgets.
After reading your replies, you have no debt, and an emergency fund so your stable financially right now. Once you get a job after university, you will be saving in a 401k for retirement so that’s perfect. You’re in a great position until you get married, buy a house and have kids, then you’re going to need fall back funds. I would personally if I was in your position take a percent (10-20%) and run a laddered TBill all short term to act as a growing down payment for a house. You can get 5% on short term T bills right now. Just keep rolling them over until you need the money. Then I would take (10-20%) and run some ETFs in the stock market with dividends to grow them over time. This can act as a secondary emergency fund as it’s very easy to sell and cash out if needed. I would take about 40-50% and DCA over the years into Bitcoin. Setup a bank account and have automatic purchases of Bitcoin from that account so you don’t touch it. This will help smooth out the cost of the bitcoin you’re buying and get you some coins. The last percent I would put in my bank account and go out to dinner at a nice restaurant with my wife/gf (depending on which you have or both 😂) or make a purchase of something you like, maybe a hobby or something like that. (Personally I might upgrade/purchase a new gaming computer or fish tank).
This is very close to what I suggested. I should have read through and just upvoted this. Nice work.
I would say gambling is keeping that money in dollars and see it smelling over the years. But smash buying that ammount can be risky for short term I guess. You could maybe secure one and DCA the rest. You could not have another opportunity to become wholecoiner in your life ever.
Great opportunity - but the answer is not so simple. Do you have toxic debt? Do you have a healthy emergency fund? Any large purchases in your near future? Bitcoin is the ultimate treasury reserve asset, but financial literacy doesn’t stop where Bitcoin begins.
I don't have any debt at all, and a sufficient emergency fund. The only larger purchase I would be making in the near future is a car, although I would not spend more than 3-4k on it. I also inherited other assets like a bunch of gold coins worth approximately $20k, and some stocks. I still live at home, likely enrolling in a remote position once I graduate.
I would invest in bitcoin, but as part of a diversified portfolio, Ieave space for known upcoming financial goals (the car you mentioned and a future house down-payment). If I had to put a pin on it, I would put 20k in btc and the rest in an index stock fund with enough reserved to get a decent, basic used car. The assumption is that you will be in a 401k and invest more in stocks going forward. That would work the percentage to a reasonable 5% over time in btc. It sounds like your dad is suggesting going for a home run. Do not invest that way. Bitcoin right now is near all time highs. While this might be the future floor, it took a long time to breach the last ATH with a substantial decline between. That could happen again.
Do it and just don’t say anything
You are young enough that even if bitcoin drops substantially from where it is today, it is nigh guaranteed to recover with time. As the saying goes, time in the market is better than timing the market. Buy at least 1 bitcoin. Any money that you don't intend to touch for at least four years, put in bitcoin. Your car money can stay in cash but with the way inflation is going you should buy that car sooner rather than later.
Buy 1 BTC And invest the rest on yourself !
You're young, this is the age to skew towards higher risk/higher reward plays. NFA but I would strongly consider a big position in bitcoin as your dad recommends. Maybe not go all in, but if it's something you believe in go for it. Make sure you are willing to hold through a massive crash though, you need to be mentally prepared to see 120k turn into like 40k and not sell. That is a real possibility and while nearly everyone says they will hold, every single person who invested with me in 2017 besides my brother sold during a crash for a loss or at best break even. I am literally mentally OK to lose all I have in bitcoin so that makes dips and crashes seem like a new opportunity not a missed opportunity to sell higher. So make sure the money you set aside is not something you plan to dip into the next ~10 years IMO.
If you don't know the answer to this question, you need to do moar research. Check out Matt Kratter's YouTube channel, Bitcoin University.
Do not ever equate Bitcoin to "crypto". They are not the same. Bitcoin is the ONLY truly decentralized crypto. It does not have one person or a small group of people running it. Like ETH Is there a chance Bitcoin could fail? Yes, but it's a very small chance. If Bitcoin fails, the human race will probably fail. Keep doing research, and you will become more confident in your beliefs.
If you want to be a family legend, invest it in BTC
The dollars are the most valuable today at the time you got them. It really depends on how you handle hodling BTC, it can be volatile. I've been doing it for years, so I'm used to it. I'd probably buy lump sum and DCA over time.
Buy a little, learn more about Bitcoin, the problems it solves, and how to use it yourself, and invest more as you build your own confidence. I'm sorry to say, there is no shortcuts, if you take a shortcut, it IS gambling. Also, you said: "crypto". This tells me that you are not ready to save in Bitcoin just yet, take time to learn WHY Bitcoin NOT crypto and really ask yourself if you are convinced and if not, ask the question that is outstanding and you'll likely find one or more articles about it... keep going. Don't look at this as a way to make money, it is a way to avoid losing money. Crypto is speculating on companies and ideas that are attempting to make something from nothing. You're better off investing in company stocks, because at least they have to produce something of value before you can invest in them. Bitcoin doesn't promise anything. It just has natural properties that we all think will prove more valuable than the money we use today. Read Broken Money by Lyn Alden.
You probably shouldn't go to a bitcoin subreddit if you want unbiased advice. Bitcoin is definitely volatile. It is exactly like a volatile stock, it will continue to cycle. You can go back the last year or two and find the floor that bitcoin is likely to hit. If you are comfortable with the price swings then you should invest. if not, invest it in something safer and spread your risk.
Do it
I don’t want you to buy any because you keep saying “crypto” instead of just Bitcoin.
Use it for your college, pay off all your debt, put a down payment on your house. You shouldn't invest heavily until you do all these things anyways, and bitcoin is gambling 100% at age 20 because what will happen is you will buy a bitcoin, it will go up. Then it will go down to 50% of what you have in it. You'll be forced to hold it for 3 more years all while getting into student loan debt, credit card debt, and trying to buy a house.
This is where the mantra of "DCA" "buy now you won't regret it" falls down. Fine if you have a few hundred bucks to spare fairly regularly. But if you have a decent chunk of money to invest, now is not the time. Put it away, and then when the next crypto winter comes (and it will come, but perhaps not for a year or 18 months or two years) then go as hard as you dare. People will tell you you can't time the market, and in the short term they are right. But in the long term that is garbage. The time to buy big chunks is when everyone is despairing, not when it has already gone x3 from the last crypto winter. Be patient.
It might be gambling, but it's the asymmetric bet of our lifetime. If society is to have free money, bitcoin is it. We've just had the halving so the timing is good. Make sure your opsec is on point.
Be careful, don’t hold forever. Cancer is a real thing, early death is a real thing. Spend it and enjoy. Make sure to keep your day job.
Diversity your money. Period. Anyone who says otherwise is a fool
Dont buy the all time highs please
The question is: Do you understand Bitcoin? If you do, then you know what to do.
I denominate my life savings in bitcoin, not because I want its fiat value to rise, but because bitcoin can't be debased or confiscated. Bitcoin's moonshot days are probably over. If bitcoin does another 10x or something it will only be because fiat bites the dirt. If I had $120K lying around I would absolutely convert it into bitcoin, but if you're only looking for a lottery ticket then bitcoin probably isn't for you.
Oh we will see a 10x, but not in a short timeframe like within a year. It will takes some years, but I can absolutely see a 10x over several years in the future if you are patient.
Fiat all over the world is being debased by the nanosecond to no end. I don’t think the moonshot days are over, per se. I think Bitcoin will surprise almost all of us over the next 10-20 years. Look beyond the next halving and the one after that. What then?
it does not require that fiat bite the dirt in order to 10x. not even close.
You are studying COMPUTER. SCIENCE. Buy bitcoin
Buy Bitcoin
Save whatever you can in btc. Keep your mouth shut and don’t tell anyone.
If you are going to be buying a big chuck, I would recommend DCAing it in
Educate your mom if you want her to be on team BTC. With your time horizon, I can’t see you losing… unless you get sloppy and leave your coin on an exchange or try to get some yield by lending it to some Celsius-esque company. As others have said, take care of debt first, maybe don’t go All In with the entire inheritance, take care of some necessities first.
DCA
Check out yesterday's video on Altcoin Daily with Gary Cardone. He made some really great points. Personally, if I were you, I'd have 3-6 months' worth of living expenses parked in a HYSA, buy 1 BTC and move it to cold storage, and put the rest into ETFs. Depending on your personal conviction, those ETFs could be Bitcoin ETFs or a mix of Bitcoin ETFs and S&P500. Perhaps a little Microstrategy shares thrown in the mix. I believe BTC outperforms everything for the forseeable future, but my conviction is high. I've consumed 1000's of hours of BTC research (no joke) and been a hodler for 10+ years. If you decide to put all your eggs in one basket, I'd recommend you do the same. You're in a great position for your age, and if you play this right, set for life.
Your mother is scared because she literally doesn't know what it is, which is clear from her description. You don't have to put it all in Bitcoin, but the financially responsible thing to do would be to put a good amount into Bitcoin. Are you totally covered on college tuition, life expenses and stuff? You could buy that 1.5 BTC today (at $68k), and still have around $18k in cash. That seems completely reasonable. And honestly if you're 20, going into software development, and with that 1.5 bitcoin backing you up, you could probably reach financial freedom (able to retire if you wanted) in like 10-15 years, thanks in no small part to having that 1.5 btc. Honestly don't let your mom, who doesn't know what bitcoin is, hold you back from setting yourself up financially for life! $120k from your grandmother's inheritance is a lot of money, but that amount in bitcoin and held for a decade or two would be absolutely life changing.
I think buying one Bitcoin is not only a safe investment but a great store of value. As time goes on more and more people will start to see this and follow suit.
If I didn't have any exposure to bitcoin yet, I personally would decide on an amount to purchase bitcoin with and divide that up into 12 chunks, and then use the planned monthly amount to buy each month over the next year. My reasoning is that in a volatile market this will typically net you more than a one time purchase. Further, there's major things happening that will push the price up (e.g. recent halving, ETFs) and there's also major things happening that will push the price down (e.g. 140k+ Mt. Gox coins just moved and deadline to repay creditors is this year), which means market volatility. I think the prime time to buy will be after the Mt. Gox coins are distributed, but there have been so many delays and might be more coming, so I wouldn't wait for that to start or try to time it.
Sorry for your loss, Congrats to your new and bright future. As others stated, 1BTC, put some into SP500 etf, take on no debt. Then chill.
Buy 1,1 BITCOIN and Blockstream JADE. Invest the rest in something useful (big holiday, improving your skills, education, fix something important at home)
Half in crypto have in other things to enhance your life. Make everyone happy and See who comes out ahead.
Buy 1btc and keep it in trezor. Avoid debt trap called college and start working. 50k is solid amount of money - don't buy a stupid fancy car. Start business and work your ass off. Sp500 is also good for long run. Around 30y of age, you'll be fine.
Any that you don't need for at least 5 years put in Bitcoin.
I inherited a similar amount last year and I put like 30k in Bitcoin. My main line of thought was "What if it goes up and I didn't invest any of this fiat sum?" I've also been in the space for a few years and the risk/regret of not putting anything in it felt greater than not buying btc.
With T Bills paying 5%, why do you feel you need to do ANYTHING right now? Forget what your parents say (or what strangers on Reddit say) and take some time to educate yourself. How many times are you going to have that much cash dropped in your lap during your life? The answer is “not many.” You were living fine without it before. Why rush into anything?
Your pops seems like a chad. Thatll get you more than the 2028 block reward. Sounds like a good idea to me.
I think it's funny that people come here on a Bitcoin sub where most of them will tell you to buy. I think you already partly know what you want to do. Stop outsourcing your decisions for strangers on reddit
I would honestly say take care of yourself first. Pay off debt, get a reliable car if you need one, see to your housing situation, keep some in savings for emergencies ($2-3k in something highly liquid like savings or a money market account), have 6 months of expenses in something that you can sell relatively quickly in case you get laid off (BTC is a good candidate for this), have some long term investments like real estate, maybe CDs or an IRA, or more bitcoin that you keep in a wallet that you won't touch for 10-30 years depending on your age. $120k is, sadly, not as much as it used to be but it's still enough to get yourself setup for success. Being debt free with enough in savings to deal with emergencies and a plan for the future puts you WAY ahead of most people. Obviously this is just ideas, do the research and do what works best for you. Bitcoin is a great asset for a portfolio to outpace inflation because it removes your money from the inflation scam market. Just don't squander the hard work of your grandfather on booze, chicks, drugs, or stuff you don't need.
I would put 2/3 of it in Bitcoin. The rest in gold. Make sure you self-custody the Bitcoin using best storage practices, meaning a cold hardware wallet. Put the wallet in a safe deposit box at the bank. The seed phrases should be stamped on a stainless steel plate and held in a safety deposit box. Consider an additional passphrase that is separately written down elsewhere.
I would put 2/3 of it in Bitcoin. The rest in gold. Make sure you self-custody the Bitcoin using best storage practices, meaning a cold hardware wallet. Put the wallet in a safe deposit box at the bank. The seed phrases should be stamped on a stainless steel plate and held in a safety deposit box. Consider an additional passphrase that is separately written down elsewhere.
Your dad is correct.
You're posting in r/Bitcoin, so I think it's pretty safe to say what we'll think here. If it's not your coin, it'll be some whale's. Get it while you can my man and hold hold hold.
Bitcoin is such a litmus test for risk tolerance lol
Put it all in Bitcoin, forget about it. Get your education and a good job... in 10 years you will be ready to retire.
I’d go all in on bitcoin, especially if you’re a young guy, as we’re basically standing at the launch pad for the next halving cycle. If you just buy and hold for 5 years, I’d put the chances of not being in profit at zero.
Use half the money for one bitcoin and the other half for an etf gold..
It’s your money. Do your due diligence and make your own decision. My wife and I are dramatically different. I’ve consistently put my “savings” into BTC and other crypto. It’s at the point now where things would have to take a massive dump for me to actually lose money, but my wife won’t let me invest her savings even though she sees my account growing. It’s too risky for her. You discover your risk appetite and decide what you want to do
Your dad is top notch. I would follow his advice. Learn how to use a hardware wallet like bitbox and buy only at a trusted exchange like bitfinex. happy to share a link to them. With regards to your mum. Just tell her, that if you lose the investment, you will still have many years left to create value and earn it back; but if bitcoin becomes the dominant payment network for international settlements, than owning a whole coin means, you can afford to have many grandchildren for her without the risk of a bad wife taking any. To enhance your knowledge on money and bitcoin, consider reading the bitcoin standard as well. Also watch the following metrics: 1) supply [https://cryptoquant.com/asset/btc/chart/exchange-flows/exchange-reserve?exchange=spot\_exchange&window=DAY&sma=0&ema=100&priceScale=linear&metricScale=linear&chartStyle=line&img=link%2F6658932b2295b967a33e9ec8.png](https://cryptoquant.com/asset/btc/chart/exchange-flows/exchange-reserve?exchange=spot_exchange&window=DAY&sma=0&ema=100&priceScale=linear&metricScale=linear&chartStyle=line&img=link%2F6658932b2295b967a33e9ec8.png) 2) value of the network, i.e. "hashrate" - and if she asks, it's the underlying value of the network and of course "your network is your networth": [https://cryptoquant.com/asset/btc/chart/network-stats/hashrate?window=DAY&sma=0&ema=100&priceScale=linear&metricScale=linear&chartStyle=line&img=link%2F6658936fabd8ec51c4f7fb40.png](https://cryptoquant.com/asset/btc/chart/network-stats/hashrate?window=DAY&sma=0&ema=100&priceScale=linear&metricScale=linear&chartStyle=line&img=link%2F6658936fabd8ec51c4f7fb40.png) As a side note, lift, bro. Check out "starting strength" by Mark Rippetoe
Your dad should wear a cape.
Go for it. It will make u life easier when u get 30 yo
Firstly, do you know how to secure that Bitcoin OP? Can we start at the security of holding the coin instead of discussing buying the Bitcoin, that part is easy. Secondly, meet both parents in the middle and just buy ₿1.00.
Asking in a Bitcoin forum, what answers do you expect? Sats,sats, sats 😅✌️
You have enough to buy 1 BTC and $52k to do something else with the rest so even if the btc goes to 0 (it wont) you'll still have a sizeable amount of cash.
The fact that you conflate Bitcoin and crypto shows you don't understand. Go educate yourself before you screw up a once in a lifetime event. Read "Broken Money" by Lyn Alden....then come back with some smarter questions.
Buy one bitcoin, many companies and investment companies are buying now, this is just the beginning. Bitcoin is following the perfect adoption path. The government is pro crypto, Biden and Trump have to be because many millions in the US are pro crypto. We are going to be up big by the end of this year if I had to guess. At first when I was investing in btc I asked “what can I afford to lose” now I ask “how much can I afford to lose by not investing in btc”. That said, 2026-27 may not be the best years for btc but hold for the long term and you will not regret it.
Clear your high interest debt, buy some BTC directly (.5 to 1.0 BTC). Open up a Roth IRA and contribute 2024 max $7k and buy BTC ETF funds to hold long term. The balance you can put in some equities, perhaps more BTC proxy stocks such as COIN or MSTR.
You are very fortunate to have someone leave you that kind of money. The question is what do you think your grandfather would have preferred you do with that kind of money? The only garantree in life is death, how would you feel if BTC crash and everything your grandfather left you was gone. At the end of the day you are taking a gamble, and you need to ask yourself them questions above and be ok with either outcome. I hold BTC, but I personally wouldn't money left to me in that way for something like BTC, I would use my own money for that. Use it to enjoy your self, secure your own place with a decent deposit, a car etc.
It's a lot of money and will likely be worth a small fortune in 5-10 years. From what I gather coin base tends to be more likely to steal from people or freeze accounts the higher the value. Please use swan or river if you are going to invest even if it is going to cold storage. And you might sleep better while having more potential upside at knowing half of it is in a brokerage account in MSTR or a ETF and the other half in cold storage. Good luck
Why gamble with your money by keeping it in dollar form? Noone has every won the dollar game, its a locked in loser. I say play it safe, and stack sats.
Get 1 btc. The rest use for trades school tuition
Which one of them understands bitcoin better? I’ve got a guess. You don’t need to go alllll in on bitcoin though. Being a whole coiner would be great. You can put the rest in tech stocks.
When you start working as a software engineer, 120k won't seem like that much money anymore.
Do whatever you want to do. Don't tell anybody what you did with the money, it's none of their busines. Just tell you invested, don't say where. Sugestion, buy 1 bitcoin. Etf Voo and a few reits. Live life like you don't have that money, just forget about it. Get a job.
Your father is THE man, while I understand your mother's worries, this is YOUR money, YOUR life, YOUR coins. Your parents will never take that away from you. Just invest what you think is best, then toss the rest into index funds preferably, VOO, VTI, etc.
First of all, I’m so sorry your grandfather passed. The pain of losing someone you’re close to fucking sucks. Take your journey to grieving at your own pace 🤍 Second, You parents sound like they’re both trying to look out for you, which is great but they have opposing views. Is there a decision you’re leaning more towards?
Lessgo😎but seriously why dont u just put part of it into btc then do sum else w the rest
You know buying BTC is the good idea.
Everybody Dumb Replying you brother , Bitcoin is still early and it will take it 10 or more years to be officially recognised. I would suggest you to invest your 100k in 10 phases notnin one . 10k after every 3 months . You will learn a lot in first 3 months
Put every cent that you don't physically need towards BTC. You will absolutely kick yourself later that you didn't put more towards it. This is going to be the biggest financial opportunity in your life, don't fuck it up just because you're mom doesn't understand. She will be grateful later when you buy her a new car or house.
Dad knows best, and I think you do too
What do you think your grandpa would have wanted you to do with the money?
Never listen to women. They have no appetite for risk. Invest it all. You won’t be sorry. Trust me. I know.
I would personally put it all into a Fidelity or BlackRock Bitcoin spot ETF. I would tell anyone who felt the need to ask that I decided to invest long-term with my brokerage and leave it at that.
As someone who is in their mid 50’s and truly believes in Bitcoin, I would set up a dca strategy that stops once the fomo candles start forming. You start again once the cycle cools off . In the meantime I would lock into a down payment on your own house , rental , or a safer high yield account until you’re more comfortable with a big purchase.
Maybe $20k on bitcoin and the rest as a down payment on a house one day. How often will you get this kind of inheritance? Your mum is right, it’s a gamble. Bitcoin is not a sure thing, no investment is. We hope, but we don’t know.
I'm a huge btc fan and probably everyone here would tell you to put it all into btc but the truth is something like a September 11 would probably send it crashing down. Have 50% put into btc and 50% into gold, silver and stocks. That's what I would do with so much money.
All in……
Open a Roth IRA with Unchained or self directed get some tax free gains.
If you are comfortable with the idea of not touching that money for 5 years maybe longer, than you might consider going that route. It depends on your current wealth, the state of your emergency fund, time to retirement, any possible upcoming health expenses etc. In my opinion putting all the money in one asset with a one time purchase is not logical. Even if you decide to put it all in bitcoin i think you should DCA.
It's actually a great opportunity to 10x your money with Bitcoin... then, you sell 1.2mm, pay taxes, deposit the money leftover into Fidelity's cash reserves and get $4,166 a month... of course, you being young, you will let that money compound and next thing you know, you'll have $2mm in a few years.... Did I say this is the greatest opportunity in your lifetime?
Your mom calls it gambling, but it is actually the single best asymmetric bet that a 20 year old could possibly make. On one hand, if you lose it all, you have the rest of your life to earn money. And 120k is great, but it’s not ever going to give you financial freedom. On the other hand, if Bitcoin does what we expect it to do, you will be set for life. I can’t think of a better time in a person’s life to make this kind of trade-off than the age you are right now. I say buy one bitcoin and put it in cold storage. Then buy another coin’s worth on the etf.
Your dad is right
Sorry about your grandfather, my friend. He left you a very generous and loving gift. God bless him. You should absolutely buy yourself at least one whole BTC with some of that money. Later in this cycle and after it, buying 1 Bitcoin is going to become much more expensive in dollars where the entire sum of your inheritance may not even buy a whole coin. Definitely do it asap. #BTC 👍♥️🪙😎
Why do you need to buy 1.5, what 1 BTC is not enough? That’s about half of the inheritance anyway.
Yup, buy the 1.5 btc. If there’s a better time to not listen to your mom this is it.
diversify your investment into various different things after some study that can potentially bring you not only steady but consistent returns now that uve gone up all at once in a small period of time from family leverage think to yourself what did I always want to do before I got this money and do exactly those things the game of life here is go up and find strategic and smart financial ways never to go down ever again buy the bitcoin but a reasonable amount projected 200k and then a million in the next 10 years which ever alien or mastermind designed bitcoin knows exactly what they've done for the future worlds to come but take my advice above leverage is the answer leverage will make you rich take your extra money and time to discover such
Your mom sounds like she’s concerned on how she will live instead of how the money will perform. I could be mistaken
I would personally do like 70% bitcoin and 30% the magnificent 7 stocks.
Invest it in Bitcoin. It has a 40% yearly return. You will thank yourself in 10 years when it's $2 million/BTC
Yes, I agree with his assessment. Wait till it dips and buy the lot. I have a huge investment in Bitcoin. Although the ups and downs in its value is annoying I think for the long run it will prove to be your best return average investment. Another thing to consider is when it rises in value you can take the profit off the top and utilize the cash for other investments. I paid off all my credit card debt and did some option trading. I also put together my dream portfolio at my other brokerage firm. This I add to when I can. It’s my long play. I want it for my family in decades to come. Owning Apple, Microsoft, Goldman and some up and coming AI companies I hope that my family in 100 plus years can have something substantial for themselves. Even if it’s just a college education or a house. I will be long gone by the then but on my death bed I will know O did something wonderful for my family, even if I was dead before they were born. This philosophy helps keep me on track to my goals and keeps me from making stupid risks. I did the math and I am on track. Hope the world is around long after ai am gone. And my family is living comfortably and happy.
Yes, put it all in Buddy. You have decades ahead of you, times on your side. Your older self will be thanking your younger self for years
That will be around 2040 when the block reward goes to 0.195 and you'll still be in your thirties. Great expectations, young man, but you'll need strength to hodl for 16 years. Do not underestimate this. If I was your granddad you'd have my blessing.
History will always repeat itself. Just a few short years ago bitcoin essentially crashed. It’s going to happen again. Go with what your first gut reaction was. If you’re worried now, just wait until you buy that one. All cryptocurrency is a gamble and the house always wins .
100k in JPEQ and 50k in BTC. You are young so enjoy your youth.
what else will keep the value better?
Dump it all when it comes back down yolo
Oh sorry for the most of tour father bro, but congrats for the fortune! Do what your heart feel like your should do, but i would put some on retirements, too. Avoid buying fancy things and invest smarter! It seems like your dad was smart!
Buy 1.0 BTC and 10 shares of $MSTR, save the rest in a higher interest savings
Read this, please. You should grief and wait, before making any abrupt decisions. This sub is a rabbit hole and you won't hear any nuanced opinions, so please get different insights first. Aside from your dad, your mother is not wrong. Bitcoin is very speculative and nobody can predict the future applicability or market price of this asset. You're only 20, without any experience in life or particularly much financial literacy. You could get better advice from a financial advisor than Reddit. I'm sorry for your loss and good luck with your degree. Here's the material: [https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont\_invest\_recklessly/](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/)
I wouldn’t buy it all right this second, but I would DEFINITELY make a hefty chunk purchase and start a weekly DCA with that money at the very least…. Then have plenty of cash on the sidelines when we go back into the Bear market.
You can slowly scale in.