How the Rich View Crypto
I have read multiple articles and discussed with many of the wealthiest people I know, the merits of Bitcoin. While the response has veried, there seems to be a strategy that they are either implementing themselves, or can't disagree with.
The strategy is simply 1%.
Not 1% like the wealthiest 1% you have heard about in the news. I mean investing 1% of your net worth in crypto. By doing this, you create a win/win situation. If crypto tanks, 1% of your net worth is nothing most people would lose too much sleep over. Conversely, if crypto ends up exploding to the moon in value, your 1% investment will be sizable enough to be a material improvement on your life.
This approach provides a logical and emotionless gameplan to invest in cryptocurrency without losing sleep on the swings. These are the strategies that make fortunes in the long run.
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That is the advantage the wealthy have. They can take 1%, which is a usually a pretty big number, and invest it in something as a spec play. The average person, even if they did this, would be putting $500 maybe into it. Now $500 in the right crypto can make a fortune yet the odds are stacked on picking the right one. Of course, $500 in crypto can yield a huge return and turn into $5000 or even $10000 yet that isnt really life changing money.
The rich get richer for a reason...they have a larger stack of money to start with. That said, from what I can see, crypto is the one area where the average person can close the gap. Tremendous wealth was already generated in the sector with more to follow.
Absolutely. Crypto is creating a new era of wealth. It's a special time!
I agree @bitbaron
This is the internet circa 1995...still a good 4-5 years before things really are in full force with the technology.
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At some point, it becomes a self fulfilling prophecy
Let's hope!
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