This was quite the week for sure. It’s likely your portfolio went down quite a bit, just like mine. Pretty sure I’ve had my worst week and worst day in investing so far. But I’ve ‘only’ been investing for a little bit more than one year now.
I think in times like these it’s good to zoom out. Many people just look at the daily price action, or maybe the price action of the last couple of days. But how has your portfolio grown over the last year? Especially if you’re a long-term investor, one day, one week or even one month of price action doesn’t really matter. Zoom out and you’ll likely see (very) green numbers instead of (very) red numbers.
Personally, I saw this as an opportunity to buy the dip. I added a bit to some of my long-term holds and notified the Discord premium members. Next week during the livestream on YouTube I’ll do another portfolio and business update to show you where things stand right now....
Hope you’re having a great week. It’s been quite a crazy week, for me at least. I’m thinking about writing a quick ‘newsletter’ every week to share my thoughts on what happened that week. Let me know what you think!
First of all I’ve reached 5000 subscribers on YouTube. It’s honestly weird. At first I was super happy when I reached 100 subscribers. Then I was relatively happy when I hit 1000 subscribers. And now I don’t even feel that much excitement hitting 5000 subscribers. We as humans keep setting new limits for ourselves and get used to situations quickly I suppose.
Even though 5000 subs is great (and thank you if you’re one of them), I do need to keep my eyes on my long-term goals. In the short term, in the next couple of years, I just want to build an audience and a reputation. I’m doing that by creating specific content so that I can rank high in YouTube search results. But my long-term goals are to...
Some of my friends were asking me all sorts of questions. And I've read many posts on places like Reddit (yeah, I know). Here's a summary of my reactions to these questions and posts:
“Bitcoin is pure speculation”: I think I would agree with that. But the question then becomes: what is your risk/reward ratio? You can only lose 100% of your money, but the potential upside in my opinion is quite large (there’s an ‘asymmetric risk’). I think bitcoin is currently on its way to become digital gold. Gold has a market cap of about 10 trillion USD, bitcoin ‘only’ a bit more than 600 billion. So if bitcoin does become digital gold, having superior characteristics compared to gold, it still has a long way to go and it could appreciate 15x if gold’s market cap remains unchanged. Multiple wealthy people (example: Raoul Pal) are actually moving away from gold and into bitcoin. Also worth reading The Bitcoin Standard to get more background...