Do You Even Crypto?
An average person's take on cryptocurrency
The future is hopeful for many reasons. My current feeling of hopefulness derives from the future of finance (money). The future of money is cryptocurrency. The market is still considered in its infancy (approx. 2009). It is extremely volatile. It has had extreme bull runs, making millionaires. It has had pull backs, bear runs, that have cut, previously millionaire’s “bags” in half. The press and legacy finance shills have brow beat crypto to cause hesitancy from both retail and institutional investors.
Today, August 22, 2021, the cryptocurrency market is experiencing a bull run. There are many people jumping into the sphere with little knowledge of what cryptocurrency is. All they know is their friend, family member, coworker, or acquaintance made some profits, and they want too as well. Yet less than one percent of the adult population is invested in the crypto market, in some manner.
According to Tyler Winklevoss, of the Winklevoss twins and founder of Gemini, a cryptocurrency exchange, “currently there are 45,500 public companies on the stock exchanges around the world. 34 public companies have some sort of crypto on their balance sheet.” Only 12 of those are U.S. companies. I am not even close to being a cryptocurrency expert. Although I did spend a considerable amount of time during the pandemic of 2020 deep diving all the articles and YouTube videos about crypto I could. I also watch a YouTube channel called Altcoin Daily, where they give you the news of the day in the crypto world. I can see that institutional adoption is eventually going to cause the crypto market to boom far beyond what it has done and what it is currently doing.
Bitcoin was inevitable. Or should I say decentralized money was inevitable, given the long-standing centralized banking system, which has most of the wealth in the hands of the few. I am not a genius or even that smart in the great big picture of things. I do, however, see Bitcoin and other cryptocurrencies causing the greatest shift in individual wealth, in the history of man. Blockchain technology will create a more level playing field in the finance industry.
I am not saying anything that others don’t say. My intentions are not to give advice on whether one should dive into the cryptocurrency ocean or not. My intentions are to give an average guys view on the industry. If the future of money lies in cryptocurrency one must at least look at it. I say look at it, figure out how to put some money into it today, hold it, so that in the future you will have a slice of the pie.
My investment strategy into crypto is Dollar Cost Averaging (DCA), when I can, buy the dips, and hold. When I say hold, I mean “hodl”, with “diamond hands” and eventually borrow against the value 5-10 years down the line. There are those that day trade this stuff and make money just doing that. Every person who gets into this should only invest what they can afford to lose, invest in protocols they feel good about, and figure out their own investment strategy. The thing is, there isn’t a one size fits all way to invest into cryptocurrency. I do believe it requires an immense amount of patience and ironclad resolve. The naysayers are many. The daily, weekly, monthly volatility is not for the weak. In my view, cryptocurrency is here to stay. I have more confidence investing money into this than any legacy type investment. I am getting in on the ground floor of a technology that has the potential to change the world, much like the internet in the mid-1990’s.
Comments
There are no comments for this story
Be the first to respond and start the conversation.