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I believe you meant to say Bitcoin is a "risk on" asset, given that you think it'll trade lower with the broad market. The idea of "risk on" and "risk off" is something made up by traders, who on average underperform the S&P 500. The S&P 500 has not reached a new all time high in gold terms since 2000.

Bitcoin is an asset you want to HODL, if you want to protect against any of the following risks: confiscation, debanking, capital controls, or currency debasement.

Jerome Powell 21iQ 40TPW 5d ago

If you want to trade, you're better off holding the S&P 500. If you want to hold the S&P 500, you're better off holding gold. If you want to hold gold, you're better off holding Bitcoin.

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𝕞𝕪𝕡𝕒𝕥𝕙𝕥𝕠𝕗𝕚𝕣𝕖 5d ago 💬 2

So its ok to hold BTC even though its RISK ON?

Jerome Powell 21iQ 40TPW 5d ago

Depends on the type of risk you're concerned about and your time preference.

If you have a high time preference and you're more concerned with short term price fluctuations, you may want to hold cash or gold.

You may want to HODL Bitcoin if you have a low time preference and you're more concerned about confiscation, debanking, capital controls, or currency debasement.

It depends on your own personal risk assessment and also how much you can afford to lose. Jack Mallers and Michael Saylor for example, have enough Bitcoin that they can handle an 80% drawdown.

𝕞𝕪𝕡𝕒𝕥𝕙𝕥𝕠𝕗𝕚𝕣𝕖 5d ago

I will just stack sats and stay humble.