The thing is, no one can predict the future. That's why there's the saying "the best time to buy Bitcoin is now." The guy bought 18,600 BTC and then the price dropped 35%. It could have just as easily gone the other way. Endlessly postponing buying BTC in the hope that "the price gets lower," you may end up never buying at all.
In 2-3 years' time, the guy who bought 18,600 BTC could be sitting at a few billion dollars' worth of BTC. It could be the smartest investment he's ever made, even if he's "currently losing"...
I totally agree...
However, today he is not "currently losing" , he is just currently losing. (as much as a guy with that much BTC can be considered "losing " lol)
It is what it is,
I am donkeying about, playing devils advocate, whatever....
But, price moves in both directions.
This is not a bug and it is definitely a feature
Y'all realise that some people make/accumulate more BTC, when the price moves down right ?
It is not an "attack"
Jus facts.
btw Viva la BTC !!!!
Nothing wrong with some dry powder
For sure, it is good to keep some dry powder.
One of the risks of lump summing might be that too much of the wadd was blown.
I have my doubts that rich folks go all in at the top, so I would imagine that there has been some deployment of dry powder at various points along the way, and if there had not been, then that would go to show that even rich fucks might need to learn things about portfolio management.
Another point is that some richer folks give few shits at what price they might buy something like BTC because of BTC's hedge angle.. and both rich folks and institutions can frame bitcoin in that kind of a way - in terms of considering bitcoin a long term hedge.. so they might start to worry 8-12 years down the road if the hedge is not working out, but they might not be so bothered if there are ups and downs within a 3-6 year timeframe - even less of a time frame (less than 6 months) as is the case with this $63k average purchase example.