- Joined
- Jun 8, 2019
- Messages
- 111
Rep Bank
$580
$580
User Power: 112%
Yet another conversation about crypto on the forum... Jokes apart, as many of us these days, I'm wondering to which point crypto can be a wealth creator instead of an income producer for Fastlane entrepreneurs.
My business is currently making around $10k a month, and over the last years, I kept reinvesting most of the profits on the company itself. I do think that crypto is here to stay in some way or another, but I'm wondering whether it makes to invest $200-400/month if not more on interesting crypto projects WITH the idea of wealth creation.
One side of me thinks it is a good idea because I already 10X my crypto investment in the past, and as said, I do believe these projects have great potential - I see these projects as angel investing.
The risk-averse side of me tells me that at this stage, the money is better invested in my business, which I'm in control of and has already multiplied the capital I've invested in it way more than crypto but is limited to just my own resources in terms of team, energies, time, capital to keep growing. In contrast, crypto has hundreds of millions of dollars in momentum.
For now, one move I've done is acquiring a site reviewing crypto exchanges (my company runs comparisons sites in the tech niche anyways). This is to gain exposure to the niche and sell pickles and axes in the gold rush so that even if the crypto projects I picked are not going to skyrocket, I'll still earn from people investing.
Can investing some spare funds (I'm not talking about going all-in) in crypto be a wealth accelerator, or is it just FOMO, and it's better to just focus on my business because I can control it?
My business is currently making around $10k a month, and over the last years, I kept reinvesting most of the profits on the company itself. I do think that crypto is here to stay in some way or another, but I'm wondering whether it makes to invest $200-400/month if not more on interesting crypto projects WITH the idea of wealth creation.
One side of me thinks it is a good idea because I already 10X my crypto investment in the past, and as said, I do believe these projects have great potential - I see these projects as angel investing.
The risk-averse side of me tells me that at this stage, the money is better invested in my business, which I'm in control of and has already multiplied the capital I've invested in it way more than crypto but is limited to just my own resources in terms of team, energies, time, capital to keep growing. In contrast, crypto has hundreds of millions of dollars in momentum.
For now, one move I've done is acquiring a site reviewing crypto exchanges (my company runs comparisons sites in the tech niche anyways). This is to gain exposure to the niche and sell pickles and axes in the gold rush so that even if the crypto projects I picked are not going to skyrocket, I'll still earn from people investing.
Can investing some spare funds (I'm not talking about going all-in) in crypto be a wealth accelerator, or is it just FOMO, and it's better to just focus on my business because I can control it?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
