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Replying to Avatar HODL

Here’s a fun bear market story.

I was on a zoom call with two bitcoin friends when bitcoin was at $17k.

One friend a millionaire, the other a billionaire.

The millionaire was talking about buying bitcoin, but was anxious and wondering if he should wait for lower prices “what if it goes to 12k??”

The billionaire goes, “put a big slug of your money into this thing right now in the next hour. I just did.”

The millionaire goes “fuck, ok. I guess I will”.

The lesson?

The billionaire made his decision quicker and more aggressively than the millionaire. He didn’t wait around for anyone else’s opinion or approval. He acted with haste and encouraged others to do the same.

a7
David 1y ago

Reversible decisions can be made quickly, irreversible decisions should be made slowly. It’s much more important to be able to recognize and seize opportunity. That’s what I think the billionaire did, rather than just acting quickly. If the millionaire had waited another week until it was $18,000, he would have still made a good decision for himself.

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