His greed is crazy.
Can't sell some of an asset to help out your own parents if they are struggling?
He's gonna hate riding his gains back down even more.
Discussion
"Before" we go parabolic.
Charts are about to gut these worshippers understanding of markets.
It's mind blowing. $100k is a strong psychological level, but I've never seen fomo and hopium as strong as it has been over the past few weeks.
That alone is reason enough for me to be cautious.
Nailed it man. That's all we care about.
FOMO - Fear Of Missing Out
GMOH - Get Me Outta Here
We sell FOMO. We buy GMOH. Asset agnostic.
I agree, it's not an easy decision though. I would probably sell a little, enough to get them through a year, and HODL the rest. I'd also have a sit-down and remind them that now they have a runway to fix underlying issues and get the house in order, so they can sustain themselves better.
I guess it's contextual. What's a small fortune? It could be 1 BTC or he could have a bunch of them, millions potentially.
The people I know who got into BTC very early on regularly sell some and then put it to use, and when opportunities arise again, they buy some more and hold again.
People seem to have this all or nothing attitude, and I think it could eventually humble them.
Buying an asset when everyone is telling you it's a bad idea is hard, but selling an asset when you have made 3, 4, or 10 times your annual salary is way harder.
Also what’s the relationship like. Not all parent/child relationships are good. He might have always been the adult.