4 Comments
May 6, 2021Liked by Chris Franco

Making my part : Crypto regrets calculator :)

https://buyandhold.substack.com/p/cryptoregrets

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Interesting model for thinking about the madness of crowds.

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I question whether the HODL'ers have any real conviction on BTC and other cryptos, or are they just passionate about them because of market exuberance and rising prices?

I don't see the intrinsic value. The reason I don't own any is because I know that if prices started to fall, I would sell out. I don't believe there will be enough price support in these markets for everyone to be able to get out the door at the same time. The prices of these things will crater so fast once the run for the door starts. It's not like there are market-makers and index fund buyers to support them.

On the other hand, if prices of businesses in my portfolio started to fall for no other reason than market sentiment, I would add more. Because I know that they are still viable businesses that will continue to make money for shareholders.

Not a judgement on anyone who holds some for exposure or wants to speculate.

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