With 10 Bitcoins in Hand, He’s Still Skipping Travel to Buy More

I often see people who have a significant amount of money yet still aren’t satisfied and keep grinding for the next level. Someone with $10K chases $100K, someone with $100K chases $1M, and it goes on.

We’re often advised to set a financial goal so we can stop actively working for money after reaching it—commonly referred to as financial freedom. If we never define what amount is enough, we may end up chasing bigger numbers for our entire adult lives.

This doesn’t apply only to fiat money we work hard for today; the same rule applies when you’re stacking Bitcoin.

Today, we’re sharing why setting goals in your financial journey is important, using a real-life example. We’re presenting this story purely as a reference and do not agree or disagree with how individuals manage their finances.

Rajat Soni, a prominent CFA charterholder, described a conversation with one of his clients. Soni conducts one-on-one sessions to help individuals progress in their financial journeys, often through investing in Bitcoin. In a recent video, he explained why most people are never satisfied with how much Bitcoin they own and highlights a recurring pattern among investors: no matter how much Bitcoin they own, it often never feels like enough.

The Psychology of “Never Enough”

According to Soni, Bitcoin accumulation can quickly become an open-ended pursuit. Reaching 0.1 BTC often leads to the desire for 0.2. That target shifts to 0.5, then one, two, five, and beyond. The progression rarely stops because, in theory, there is no upper limit to how much wealth a person can accumulate.

This mindset is not unique to Bitcoin. It mirrors behavior seen with fiat savings, real estate, and stock portfolios, where each milestone simply resets expectations rather than delivering lasting satisfaction.

A High-net-worth Case Study

Soni described a recent call with a financially successful client. The individual owned a profitable business generating roughly $30,000–$40,000 per month, held multiple rental properties, and had already accumulated more than 10 Bitcoin. He had also borrowed against his properties—including his primary residence—to increase his Bitcoin exposure.

Despite this substantial position, the client was focused on one question: how to borrow even more to buy additional Bitcoin.

What concerned Soni was not just the leverage, but the imbalance. The client prioritized the number displayed in his wallet over essential considerations such as secure custody, estate planning, and ensuring his family could access the assets if something happened to him.

Leverage, Volatility, and Stress

During their discussion, Soni challenged the client to consider downside scenarios. What if Bitcoin dropped 40%, 60%, or even 80%? The client admitted he would be extremely stressed and unsure how he would cope emotionally.

While Soni expressed long-term confidence in Bitcoin, he emphasized the importance of being psychologically and financially prepared for sharp drawdowns—particularly when leverage is involved. Excessive borrowing can magnify both gains and stress, turning volatility into a personal risk rather than a market fluctuation.

The Hedonic Treadmill Effect

Soni connected this behavior to the concept of the hedonic treadmill, a well-known psychological theory suggesting that people tend to return to a baseline level of happiness regardless of achievements or possessions.

Whether it’s buying a luxury watch, a bigger house, or accumulating more Bitcoin, the initial satisfaction often fades. New desires emerge, expectations rise, and the cycle continues. In this sense, Bitcoin can become another asset caught in the same loop—despite its long-term monetary potential.

Bitcoin Vs Material Consumption

Soni noted an important distinction: unlike consumer goods that depreciate, Bitcoin is often viewed as a long-term store of value. However, the emotional pattern around accumulation can still resemble consumer behavior if investors tie self-worth or security solely to growing balances.

In some cases, people replace shopping therapy with investment therapy, taking on more assets, more properties, or more leverage—sometimes at the cost of time, relationships, and peace of mind.

The Importance of Balance and Planning

A key concern raised in the example was the lack of practical planning. The client’s spouse was aware of the Bitcoin holdings but did not know how to access or manage them. In a worst-case scenario, this could leave family members with significant debt and limited access to the assets meant to protect them.

Soni argued that beyond accumulation, investors should prioritize secure custody, clear instructions, and open communication with loved ones. Wealth that cannot be accessed or used when needed loses much of its purpose.

Rethinking Financial Freedom

The broader takeaway is not that buying Bitcoin is a mistake, but that accumulation without a defined end goal can lead to perpetual dissatisfaction. Going from zero to one Bitcoin may be life-changing. Going from 10 to 11, by contrast, may offer diminishing returns in terms of real-life impact.

Financial freedom, in this framing, is less about maximizing numbers and more about aligning money with values—time with family, personal health, meaningful experiences, and long-term security.

A Measured Approach to Stacking

Soni ultimately encourages a balanced strategy: recurring purchases over time, avoiding unnecessary leverage, and accepting that it’s impossible to ever feel finished accumulating Bitcoin.

Rather than obsessing over totals or price fluctuations, the focus shifts to sustainability—both financially and personally. Building for the future does not require postponing life indefinitely.

As Soni summarized, Bitcoin can be a powerful tool for long-term optionality. But without balance, even the strongest conviction can turn into a source of stress rather than freedom.

I personally prefer not postponing the things that truly make me happy—like going on a long drive, watching a movie at the cinema, or spending money on things that genuinely bring joy (not on addictions, which may only provide short-term happiness).

We should focus on what makes us happy and what brings joy to our loved ones. This is often the best way to understand what true happiness looks like. In the example, the client was stacking more and more Bitcoin, which clearly made him happy at the time. But would his wife or loved ones feel the same when they realized he was accumulating more by avoiding trips or vacations?

Share your point of view in the comments. I’d love to hear different perspectives on stacking more while postponing meaningful life experiences—moments that could truly make us proud to look back on, even from a wheelchair in our 90s.