To quickly explain : I took $60,000 from my mortgage line of credit (HELOC) to invest it in Bitcoin/Miners. The interest on my home equity line of credit is around 8%.
Interest payments are :
$60,000CAD (43 500$US) comes to $4800CAD/year (3475$US) or $400CAD (290$US) per month in interest.
I invested in Fidelity Advantage Bitcoin ETF (Canada) and Bitfarms from a TFSA account. If prices rise, I don't have to pay any capital gains tax.
I split the $60,000 in 2, 30,000$CAD in Fidelity Advantage Bitcoin Etf (FTBC) and $30,000$CAD in Bitfarms (BITF).
My average is around 17$CAD ($12US) per share in Fidelity and 1.55$CAD (1.13$US) per share.
In total I have 20,000 shares of BITF and 1700 shares of Fidelity ETF for a total of approximately $60,000 CAD or $43,500 US.
I know it sounds a little crazy, but I believe it's worth the risk. I relied on the PlanB chart. I think we're officially in the bullrun.
Price of bitcoin as I write this text: ~37 100$US
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