In our household, Bitcoin is more than just an investment—it’s a savings technology. After a hundred plus of hours of research—reading books, listening to podcasts, and watching interviews— I concluded that Bitcoin is the apex predator of financial systems. I believe all capital will eventually flow through the Bitcoin network, not by wishful thinking but by the superior monetary properties of Bitcoin. Watch this three-minute video on Why Does Bitcoin Have Value?
Understanding the Problem Bitcoin Solves
When I first started this journey, I didn’t have a financial background or education in finance. To fully appreciate Bitcoin, I had to educate myself about money—what it is, how it works and its history. Here are the resources that helped me the most:
- How Money and Banking Work (and Why They’re Broken)
Lyn Alden’s explanation of the flaws in our current monetary system was a game-changer for me. Watch the video here. - Government Confiscation of Gold in 1933
I learned about Executive Order 6102, issued by President Roosevelt in 1933, which allowed the U.S. government to confiscate the public’s gold. This history is critical to understanding the vulnerabilities of traditional monetary systems. Read more here. - The Bretton Woods Conference in 1944
The Bretton Woods Conference of 1944 was a pivotal moment in global finance. Delegates from 44 nations agreed on a series of new monetary rules following World War II. Understanding this event gave me insight into the birth of the IMF and the World Bank. Read more here. - The Gold Standard’s Collapse in 1971
In 1971, President Nixon took the U.S. off the gold standard, fundamentally reshaping the global financial system. Learning this history clarified why Bitcoin’s fixed supply is so significant. Read more here. - What Makes a Good Monetary Asset?
Vijay Boyapati’s The Bullish Case for Bitcoin is an excellent, non-technical introduction to Bitcoin and why it stands out as a monetary asset. Read it here. - Why Everything Is Falling Apart
Understanding why the current system feels broken is essential. Guy Swann’s visual explanation of these issues helped me see the bigger picture (warning: it contains some language). Watch this five-minute video here. - The Bitcoin Standard
If you’re serious about understanding Bitcoin, The Bitcoin Standard by Saifedean Ammous is a must-read. Its first seven chapters, which delve into the history of money, are particularly enlightening. Find the book here.
Our Bitcoin Journey
- Our First Purchase
We made our first Bitcoin purchase in January 2021 and quickly realized its potential. Between January and July 2021, we made additional heavy purchases at random intervals. - Switching to Dollar-Cost Averaging
On July 2, 2021, we started dollar-cost averaging (DCA), buying Bitcoin every day.- How We Do It: We don’t try to time the market. Instead, we take profits from our business and extra cash, deposit it into a holding account and use it to purchase Bitcoin daily.
- Why We Do It: DCA smooths out Bitcoin’s price volatility and eliminates the stress of market timing.
See Where My Family Buys Bitcoin: Our Go-To Platform and Why
- Our Commitment
- We haven’t sold any of our Bitcoin.
- Our goal is simple: to have more Bitcoin today than we did yesterday and less Bitcoin than we will tomorrow.
There are different ways to dollar-cost average, such as daily, weekly, or monthly buys. For us, daily purchases keep us focused and consistent.
Lessons Learned
- Bitcoin vs. Real Estate
Apart from our primary residence, we’ve chosen not to invest in additional real estate like rental properties, multi-family units or office buildings. Instead, we allocate that capital to Bitcoin. Here’s a great comparison of Bitcoin vs. Real Estate. - Alternative Coins (Altcoins) Are a Distraction
When we first bought Bitcoin, I thought diversification was important, so we invested in altcoins like Ethereum, Litecoin, XRP, Chainlink, Filecoin and Uniswap. After six months of research, I realized altcoins were distractions. While I had some wins and losses, I ultimately sold all our altcoins in the summer of 2021 and reinvested in Bitcoin exclusively. This article by Parker Lewis explains why Bitcoin obsoletes all other money. - Bitcoin-Backed Loans
I am excited about the potential of Bitcoin-backed loans and their role in the future of finance. Watch this 6-minute video to learn more.
Why We Buy Bitcoin Every Day
Buying Bitcoin daily has placed our family in a remarkable wealth-building position over the last four years and we are excited about our future! My wife and I want to leave an inheritance to our children’s children (Proverbs 13:22).
- Consistency Is Key: Whether you choose to dollar-cost average daily, weekly, monthly, or quarterly, what matters most is growing your position consistently.
- Market Timing Isn’t Necessary: DCA eliminates the stress of timing the market while allowing us to steadily build wealth.
Bitcoin has been transformative for our family. If you’re exploring it as a savings technology, start with small steps, educate yourself and remain consistent.
Remember friends…it’s Bitcoin, not crypto.
See Where My Family Buys Bitcoin: Our Go-To Platform and Why
