Here Is What Would People Do If Bitcoin Hits $100,000

By Marko Vidrih on The Capital

An interesting poll shows what BTC owners would do if the Bitcoin price hit $100,000. Hold or sell? That’s the question.

One of the most important decisions an investor has to make is to develop an exit strategy. In other words, he has to get a clear picture of when he will sell his holdings. It’s no different with Bitcoin.

Despite the variety of special features, it has compared to traditional investments, it is also an investment option like any other — its price goes up or down. Therefore, those who buy them as investment funds must give a number at which they would eventually sell their holdings.

An interesting poll on Twitter found that when the price of Bitcoin reaches $100,000, most people would prefer to sell either all or part of their property for a fiat currency.

What exactly Bitcoin owners would do is reflected in this poll:

In a very simple question, Chris Dunn asked Bitcoin holders what they would do if the price of BTC reaches $100,000. 1,790 people took part in the poll.

• 45.1% of them replied that they would sell part or all of their BTC for fiat currencies.
• 26.4% of respondents replied that they would sell their Bitcoin for physical assets.
• 20.9% said they continued to hodl their holdings.
• 7.5% would do something different.

In other words, $100,000 seems to be a number that many people see as a price target for selling their BTC holdings, but a large group seems to want to hold their Bitcoins no matter what the price is.

What motivates people to HODL?

The survey shows a very interesting similarity to another survey. At the end of 2019, a survey by Binance Life showed that 23% of 7,262 people had no intention of ever selling their Bitcoin holdings. In Dunn’s survey, 20.9% of people said they would not sell their BTC when it reached $100,000, but instead would HODL.

At what price would you sell the majority of your Bitcoin?

• 32% would sell at $1,000,000.
• 20.6% would sell their BTC against fiat currencies at $250,000.
• 24.4% at $50,000.
• 23.1% would never sell their BTC at any rate.

So there is a large group of people who buy Bitcoin and keep it, no matter what price the Bitcoin may reach. Bitcoin Hodler sees the BTC as a practical and cross-border good without the influence of third parties.

In a scenario where Bitcoin replaces traditional fiat currencies, as far-fetched as this may seem at the moment, you would “no longer need cash anyway because you spend your Bitcoins instead”. This statement could explain the attitude of many hardcore hodlers.