GM

Seen a piece of land with a old house on it

Stunning views

Price guide is right at the top end of what I was thinking

A part of me is so drawn to it

Would be an EPIC base as a family HQ

From an investment perspective the only way it works:

- long term hold

- leverage as much as possible

- add value (ie build something new)

- retain as much Bitcoin equity as possible

In some ways I just have to trust that Bitcoin has my back to carry the debt

Good test of one's capital allocation senses

Worst case scenario?

- you sell it

- it costs you Bitcoin and the consequent purchasing power

- waste's your time

Oooft

Spidery sense is that this is the land for me

If it doesn't become the case, then you know it wasn't the right one

Observing my instinct in itself is an interesting process

There will always be more land

There wont be more Bitcoin

But what better way to re-allocate Bitcoin gains than build a base for a young family?

I can't think of a better one

Some things are worth more than money

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Discussion

GM Jake.

GM πŸ«‚β˜•

GM

Most people misunderstood

Price and Value

Gm! Something for think more πŸ‘πŸ»

sounds great. i just worry about this one for you, if real estate really were to crash 35%:

https://x.com/dotkrueger/status/1924839476796522632

Well this is where the capital allocator must be careful...

Firstly, it's all about position sizing in my view. Eg you take 20% of your BTC stack, re-allocate into a leveraged real estate play, and commit to carry the debt. Sure, your 20% could reduce by 35%, but the key is you would still have 80% of BTC to potentially price action to the upside. It would be about allocating into something you need, whilst not losing the amazing capital growth position that you've built youself. If you really went for it, you could use some kind of BTC collateral tool instead of selling, but I think I prefer the cleaner approach of simply selling

Plenty of thought still required

Note - I would be buying real estate in Australia, I think the chances of a 30% drawdown here are sub 5%

I'm definitely coming around on diversification. I am also coming as round to view the whole point of Bitcoin is not an end in itself but as pairing with real estate (instead of debt) and making development possible. It is harder to split as far as inheritance goes.

ledn loans give me the heebie jeebies. Howard Lutnick basically admitting that the plan is to introduce Bitcoin lending products to use natural volatility to sweep more Bitcoin towards his company.

Yeah I just released an episide with Igor from FireFish, which is a BTC collateral marketplace, and I thought it sounded better than previous products

Still not totally over the line with it, especially when one is considering Real Estate, which itself has sophisticated debt products