EnronAg said:
question for the BTC gurus - never had BTC outright, as I've only owned the ETF's and BTC related companies like COIN, MARA, etc.
Question - let's just say I was rich enough to own a couple BTC outright, are there options that you can play (i.e. selling covered calls, buying protective puts) to protect yourself? have no desire to use options outside of hedging my underlying exposure.
(not buying at these levels, but should there be a sizeable correction and I would see an opportunity to buy BTC and use options to hedge volatility and exposure)
I don't own any outright either. I'd look at IBIT (a bitcoin ETF), just like SLV is to physical silver. They trade identically, and there really isn't a good reason to worry about owning the ETF verse regular bitcoin. I will be buying this bitcoin dip. IBIT is less volatile and more predictable than the miners and MSTR. MSTR can be deceptive and hard to play. IBIT, much less so. Options in IBIT too are very liquid, I would not hesitate to play those. I may buy a few calls on this dip.
If bitcoin can hold 98k, it stays in a channel upward and could take out 120k in January. In the next 4 years, if Trump and the Fed start buying a ton of bitcoin (like he has said they will), you will see it take out 400k+ (fwiw, I think it could 3x in the next 18 months). It will remove our reliance on the corrupt ever inflating USD and get us away from the central banking cabal.
just my 2 cents of course, do your own DD.