‘I’m never selling’: I’m 47 and buy bitcoin with every dollar I earn. Am I crazy?

A 47-year-old investor converting every paycheck into bitcoin illustrates an extreme version of a strategy known as dollar-cost averaging — committing fixed amounts to an asset on a regular schedule regardless of price. The approach is designed to smooth out entry points over time, but applying it to an entire income stream concentrates both market and liquidity risk in a single, highly volatile asset.

Bitcoin’s price history includes drawdowns exceeding 70% from prior highs, and the asset has no earnings, dividends or cash flow to anchor valuation. That makes outcomes dependent almost entirely on future demand. For readers, the case raises a practical question: how much of a portfolio can be allocated to a speculative asset before it undermines other financial goals, such as retirement funding or emergency reserves?

What to watch: bitcoin’s price trend and volatility, regulatory developments affecting access and custody, and whether the investor maintains separate savings. The episode is less a template than a reminder that conviction and concentration are different things — and that any single-asset strategy carries risks that diversification is intended to reduce.