Is #Strike a good tool to live full-time on #Bitcoin?
Tell us how how you do it please. 🙏
Discussion
I take 100% of may paycheck (every two weeks) directly to Strike in Bitcoin. I pay all my expenses on credit card. A couple of business days before the end of the month I sell just enough bitcoin to pay off my complete credit card bill to avoid interest and to put enough in my checking account to cover my mortgage. So I’m only minimally exposed to fiat for a couple of days.
That's amazing! You managed to bring down your fiat risk to ZERO!
Any capital gain tax risks to keep in mind?
Yup at the end of the year I will have 12 sales, one for each month, so there could be CGT to pay. But the pay I don’t spend is HODL’d so no tax on that. I’d rather pay 25% on a gain than have to hold fiat.
Strike is one tool. You should have multiple tools. I have sats in cold storage, I have sats on a self hosted node using Zeus wallet and I have sats on Strike. I use all 3 tools. Don’t limit your tool bag. #bitcoin #lightning #zeus #strike