To Have And To HODL: What Your Investment Really Entails
Apple Co-Founder Steve Wozniak recently spoke about his crypto investment to an audience attending the Nordic Business Forum in Helsinki, Sweden last month. There, he told attendees about his experience investing in Bitcoin, and why he just couldn’t handle to HODL any longer. Long story short, Wozniak says he bought [an undisclosed amount] Bitcoin at $400 per coin, sold most around the current all-time high, made profit, and was happy to get out of the game. The Apple founder said it simply; “I don’t want that kind of care in my life.” When someone like Steve gets out of Bitcoin because of the care involved in the ownership, it begs the question; are we… married to our cryptos when we HODL?
Steve might have a point, but let’s not forgot that Steve is coming at it from an entirely different angle than most. The co-founder of Apple has already weathered many technological and financial storms and has a vested interest in playing things safe. Also, he is already very well off, hence, he can already buy many shades of Lambo. From the sound of it, he may have broken one of the golden rules of crypto investing when he first bought in; don’t invest more than you’re willing to lose. But here is the problem some HODLers face; what happens when you sign up to buy cryptocurrencies, spend what you’re willing to lose, but then the exchange rate into fiat goes up exponentially? And then down exponentially, and then up again… You might start to see the kind of rollercoaster we’re actually riding here. Do you have the stomach for this long and winding ride?
To the community of HODLers shaking their heads at this article already, there is only one option here; HODL. HODLing might prove to get you that rocket powered Tesla Roadster if Monero hits €200,000 someday. That is why you have said, “I do” to your crypto bride anyway, is it not? You’ve got a strong stomach and you love rollercoasters and will more than enjoy that zero-g experience flying through space and going to the moon when the time comes. To those that HODL on, we salute you! To those that don’t, we understand.
Some hands are weak and cannot hold like yours; this is true. Let us not forget, please forgive this blasphemous statement, HODL is not always a solution for everyone. Call it weak hands, or “not in it for the right reasons” but not everyone who is buying cryptocurrencies is doing it for the same reasons as you anyway, and some folks are selling for reasons you might not be in a situation to relate to. Some folks just need to pay rent, pay off their debts, emergencies come up and liquidity is needed urgently, or they just want to realize some of their gains; possibly even diversify into other assets they never had a chance to invest in. Don’t hate these people; they are much like you, they’re just playing the game differently.
That is all this really is at the end of the day; a game. What is great about this game is the opportunity it has to shape new communities, provide new economic opportunities, disrupt the current financial system (hopefully in a positive way), and take humanity somewhere new; somewhere it hasn’t been before. And for those who HODL to crypto; the opportunity to go somewhere humanity hasn’t been to in a long while; the moon. But let us not forget that if we’re going to take our relationship with our cryptos to the next level, we must realize the commitment we’re getting ourselves into, and be prepared for the ups and downs that come with our highly dysfunctional, highly unstable brides. We’ll see you on the moon Steve!
Follow Marcus Henry on Twitter- @MarcusHenryHODL
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