Bitcoin has always been like a mistress in my investment portfolio – it is never treated as a serious investment and not a lot of resources are devoted to it. I shared many years back whereby I bought bitcoins around US$400 and sold off at US$10,000 during the craze in 2017. Looking back I find myself foolish. Now that it went to US$20,000 after I sold the bitcoins but I bought bitcoins again in 2020 at US$12,000. In between I ‘lost’ that US$2,000 profits by going in and out. I should have just held it.
To be fair, the level of conviction was different. Bitcoins have become a lot more accepted and becoming a legitimate store of value. My conviction has increased in tandem. I see that bitcoins to millennials are like gold to boomers. There would be a new generation of adopters who would create the demand for it.
So I decided to really hold bitcoins for the long term this time round.
...