Post
Topic
Board Economics
Re: Is it easier to HODL if you are already rich?
by
jaysabi
on 07/08/2021, 04:55:15 UTC
One of those successful cases of bitcoin hodling was a friend of a friend. They (a couple) took an important risk by investing 60k of a dismissal compensation into bitcoin and making a x100 on it before selling half. I do not know what they did with the rest. Now, these people were not rich, they took an enormous risk compared to their total wealth. They had to really believe on the project and pass though some of bitcoins usual "tests of faith".

For someone with let´s say, a net worth of 1M USD or more plus house, hodling 60k until they became 6M would have been not that much of an stress. Do you think it was easier to benefit economically from bitcoin if you were already a bit up in the ladder?

Everything is easier when you're richer.  Obviously investing is too because you're much more immune to the volatility of the market.  Someone who is rich can wait out drops without much consequence.  Someone who is poor is much less equipped to do so and may have to sell low to protect what they have left from going to zero.