Posts about Crypto
We always tend to talk about how destructive bear markets are and how every investor just fears them and usually even paper-hands before the real bear market even started. The situation was not much different exactly one year ago from today, back then we all probably were full of fear as BTC had plummeted from a high of $48k to under $20k in just weeks thanks to the LUNA scam.
Many also paper-handed back then which caused this crash in the first place and many more thought, just as in the prior bear markets people did, that Crypto is officially dead.
Well, thankfully not everyone did that, in fact the people with commitment, dedication and sheer fucking will, like us, did not do that at all. They instead held onto their coins until now.
Those heros, made up for nearly 69% of the whole supply. That's 13.3M BTC out of the current 19.6M BTC circulating supply. That way we see that by far the majority of holders actually have the conviction to just hold through all of the pain because they know what is awaiting them on the other side of it. Just the smaller portion that sells is way more vocal.
And of course we are all a part of that 69% number, so we must finally step back a bit and look at all the pain we endured, but still prevailed. We truly deserve it to be celebrated by ourselves.
BlackRock CEO Larry Fink said in 2017, "you have to force behaviors, which is exactly what we are doing at BlackRock". Feel free to view the entire clip here: https://www.youtube.com/watch?v=KwwN5kwjAtQ
BlackRock is the largest asset manager in the world with about 9 Trillion of assets under management. They clearly wield enormous power and use it to great effect. They of course have filed for a spot Bitcoin ETF and are planning on making a big entry into crypto. Given their 575-1 ETF approval rate, it seems a done deal that their ETF will be approved.
If you know anything about BlackRock you'd know them using their money, power and influence to gain even more money power and influence off the suffering of regular people is nothing new. Actually, that clip of the interview came from an ESG CEI meeting, and most of us should know the ESG is just an excuse for giant cooperation and financial behemoths in BlackRock to control investment and flows of money by other companies, governments and regular people into whatever they want by means of a ESG scored that is decided by them.
And it is a company like this that is entering crypto and quite likely will end up being the first approved spot Bitcoin ETF, gaining first movers advantage and raking in money of big institutional investors hungry for simple crypto exposure. They will likely expand to other ETFs like Ethereum and others and there is honestly a decently high change that we end up facing the same nonsense in crypto because some of some excuse like Bitcoin mining is bad for the environment so they lower the ESG score and reduce Bitcoin investment. And they probably try to force some cryptocurrency they or some other big corporation has create, or even a CBDC as a Trojan Horse like the IMF is pushing.
One thing you could hear here a hundred times during the bear market and even the previous bull market was the advise of diversification. Diversification in the sense of that you have to invest in multiple cryptos, that preferably also are from different sector of crypto, to be a successful investor with the least risk.
While this is a very good investment advise actually and fits a lot of humans as we humans are usually very risk-averse, meaning that we would be ready to pay quite a lot to not lose anything while we would not pay as much to win something. This is according to the principle of diminishing marginal utility, which says that the next dollar for us worth less than the previous dollar. But enough of this economics lecture.
The real reason for many of us to be here is that we want to become rich, as silly as this may sound. We all want to make a ton of money with Crypto. Now if we look at all the legendary investors through the history of humanity, they would agree that the key to becoming really rich off some investments is definitely NOT diversification.
Andrew Carnegie is one of the less known legendary investors, but he mostly plays in the same league as Buffett, Munger and Soros. About one hundred years ago he really became wealthy with his bet on the steel industry. While he did also support the idea of diversification a lot, one thing was clear that is not how you CREATE wealth, diversification is for PROTECTING wealth.
Now also here in Crypto most people got really rich because they had made one investment that completely blew up, finding two of them is already very difficult. If you found one crypto that you made all the due diligence on and you really think it can blow up and you want to create your wealth with it, it would be the smartest to double down on it and not diversify with others.
(This is no financial advice, especially as this strategy in a young market as Crypto is a lot more difficult and risky to apply)
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