Zero To $1 Million Update
What started out as a crazy hair brained idea of being able to grow a crypto portfolio from 0-$1 million is looking more and more possible each month that passes. Personal challenges are fun as it is good to push yourself to the limits.
This is my personal challenge which I like to revisit every now and then just to make sure the numbers are on track. This is not an easy challenge to undertake as it takes years of serious commitment which is expected to be achieved within the next 4-6 years.
The last time we had crypto reaching it's all time highs was the back end of 2021 where my portfolio value had reached in the region of $250K. This represented 44 months of work which is significant as the first year was more about getting the ball rolling where as now it is about maintaining the momentum.
The market is currently in a side ways phase which more importantly is good for accumulation and the hope is this continues for a while longer. We are nearly 18 months on from when last we saw the ATH's and if taking those numbers from that time period the portfolio would have a value of around $400K which represents a 60% growth. Scary numbers considering how quickly this is starting to happen.
What is very apparent is how achievable this will be as the target at the current growth rate will be achieved way sooner than first imagined. The stake in the portfolio is making this growth happen combined with the effects of compounding interest.
Hive is a key weapon in achieving the target as the overall growth is not based on one APR as it has so many earning variables. The stake generates more stake through all the various growth avenues and only increases as time goes on. The scary part is for the first few years of this challenge was it wasn't even a challenge and only over the last 18 months having seen the $250K value did it become the challenge to reach a $1 million portfolio in 10 years. The thought back then was this could be grown into a great pension fund, but clearly this is way bigger than that offering so much more. Deep down if truth be told I think just the Hive part of my portfolio will exceed $1 million by 2030 which is quite remarkable to even contemplate.
Each crypto cycle has it's growth opportunities and having identified each phase of the cycle it is important to maximise each event. The first 4 years of the 10 year plan was nothing out of the ordinary and now during this 4 years certain things need to be adjusted which will make a big difference overall.
The one key factor is what will be the price be next when we see the ATH's whenever that might be as I expect these to increase considerably which will also influence the overall dollar value in the portfolio. Thinking like that is also dangerous so growing at the same rate is imperative and just sticking to what you know.
Having a 10 year plan is slightly longer than what most people do as most want to retire tomorrow with little to no effort involved. If everything was so easy then there would be no value and why having targets is important. Compounding the growth is what takes the time as the growth speeds up the longer it happens and why it is happening over many years compared to many months.
Everyone has the same opportunities and it is what you are prepared to do with them that makes the difference. The crypto cycle is very powerful once you understand the various phases and why it takes anywhere from 2-3 cycles to reach financial independence. Obviously the more cycles you are involved the wealthier you will ultimately become as this is not rocket science mainly involving dedication and sacrifices along the way.
Crypto as an industry will start to mature as the years tick by which will possibly make it harder to grow as there will be many more people involved as adoption takes place. The good thing about that is the portfolio should increase way more in value which would have made these growth phases even more lucrative than what we could have ever imagined. The hope is $1 million will be the tip of the iceberg in 5 years from now and be worth so much more.
You gotta think big thats for sure! Get in there!
Go big or go home. I think everyone should be taking advantage if we are this early.
Absolutely, it shouldn't be too hard to make some fantastic gains of you pan out and think long term
It will definitely be interesting to see what happens with the crypto markets in the next couple of years. I am also interested in seeing how the traditional markets recover after the whole Covid thing. We should see big numbers coming back there eventually. Assuming everything doesn't entirely collapse.
It will be interesting for sure but don't see it collapsing with the EU wanting regulation to happen immediately.
I'm not sure it will collapse either, but a lot of people seem to think the traditional markets will. I guess time will tell.
📈 I think we will see also another bull market at Wall Street & Co. within the next few years. There’s a lot of growth potential ahead of you think about all the AI and robotics productivity emerging. The transition to clean energy will also drive the markets in my view. Infrastructure will have to be renewed etc. I am bullish when it comes to 2024 and further on.
Yeah, you make a lot of good points there. It feels like things could go either way sometimes, especially with the bank failures but I am cautiously optimistic.
Great plan and challenge. 👍🏻 I am also trying to built my crypto portfolio into a main part of my financial independence plan I doubt it will reach 1 million until 2030. And to be honest even the 250k would be a great achievement.
One question: When you say that your Hive position alone will probably hit 1 million $ in 2030, what Hive price do you expect by then? I am „calculating“ with 3-5$ in the next bullrun 2024/25 and maybe 10$ until 2030.
PS: Did you notice you reached a reputation of 80? Thats really impressive! Congratulations!! 💪🏻
Hmm
In all that happens, I just hope that we get favored by the crypto market in a few months from now...
Great read.
Even Albert Einstein had a quote about compounding. Go check it out on google😂 The Eight Wonder Of The World 😎compound interest.
!PIZZA
$PIZZA slices delivered:
@technicalside(3/5) tipped @cryptoandcoffee
Yes, when you look at what you are able to amass, in terms of a four-year cycle, as opposed to an isolated year it becomes rather meaningful. When HIVE hits $10 you will be there... just on your HIVE holdings alone. Keep going!