Dollar-cost averaging involves investing the same amount of money in a target security at regular intervals over a certain period of time, regardless of price.
When buying Bitcoin, I follow the recommendations of the IMF, which says that virtual currencies can be useful for those who live in countries with high inflation and no reliable currencies.
In 2004, the Bank of #Norway sold off almost all of its #gold reserves, keeping just seven gold bars as souvenirs. The decision to sell the gold was based on several factors, including the high costs associated with storing and guarding the gold, and the fact that the gold holdings were not generating any income for the bank.
At the time of the sale, the Bank of Norway held around 3.5 million ounces of gold, worth approximately $1.5 billion USD. The sale was conducted over a period of several months, with the bank gradually selling off its gold holdings in order to avoid disrupting the gold market.
The decision to sell off its gold reserves was controversial at the time, with some critics arguing that the bank was making a mistake by getting rid of its gold. However, the bank defended its decision by pointing out that gold is a relatively unproductive asset, and that it made more sense for the bank to invest its funds in other assets that could generate income
The largest purchase of gold by the IMF was made in 1971, when the United States refused to redeem its dollars for gold under the Bretton Woods system. That year, the IMF bought 50 million ounces of gold from the United States, which amounted to about 1.5 million kilograms of gold.
Since the price of gold was fixed at $35 per ounce at that time, the IMF purchased this gold reserve for approximately $1.75 billion. This was one of the largest gold purchases in history.