I think diversification is fine. Different people have different risk tolerances.
Diversify to preserve wealth, concentrate bets to increase wealth.
Discussion
Right.
But if that wealth is left in fiat, doesn't that show they don't get Bitcoin completely? Which is fine.
But for someone who's read the Bitcoin standard and hosts his own node and lightning node, I'm just a bit confused.
Fiat could survive another 10 or 15 years, while Bitcoin price could swing around wildly. If they have enough Bitcoin to make them wealthier than they were before (arguably anything over 1%) then maybe that's enough risk for them.
And another question is how old is this person? If someone is like 75 then they should only have a small portion in Bitcoin anyway.
Going all in on Bitcoin is for young people who aren't rich already. (In my humble opinion.)
35
Maybe they don't understand Bitcoin.
You gotta have a lot of conviction to go all in. I had less than 3% Bitcoin until 2020, and I had a decent understanding of it.
I'm not saying he should all in.
But I think it's just his beliefs are conflicting and I couldn't figure out where and why.
And how he's only looking at Bitcoin as investment.