Umair
From FOMO to HODL
I begin this story with the disclosure that I am, by nature, a tremendous skeptic when it comes to crypto.
Years ago, I read stories, articles, posts and an interesting book about how it was going to accomplish all these wonderful things, would have massive utility, would bring a way for the unbanked masses of the world to instantly transfer currency across the globe, and whatever else the cult of crypto bros said.
I also suffered from FOMO, for sure. In late 2016, I first read articles about Bitcoin on Yahoo! Finance on a defunct laptop while reclining in my backyard, when it was trading around $800 per coin.
I casually observed in shock and awe as it continued to rise to six figures in value recently, all the while knowing there was no way in hell I would have held onto it for that long.
Also, I was into speculating and lightly trading stocks back then, and the maximum I would have gambled into it at that time would have likely been $4,000 for five Bitcoin. Going for ten would have been too rich for my blood, with a stay-at-home wife, two highly immersed suburban kids, a house, cars, and bills up the ying-yang. All while trying — and succeeding — to save at least $100k for each of our children’s educations.
Of course, if hindsight was 20/20, which it never is, I would have gone all-in with the $20,000 or so that I had to my name back then and then HODLed it for years, with the twenty-five now worth about enough today to not feel the squeeze should the T-Rump I will soon work for gives me the DOGE treatment.
A few savvy investors I know cashed out enough of their stock shares once the price rose significantly, keeping the rest with the concept of it being “The house’s money.” In particular, one of my dearly departed work friends did that with his Ford stock as it rose from $1 per share to $10 after he purchased 10,000 shares.
So, had I even cashed out $4,000 of “real money” from my theoretical five Bitcoins once it…
