This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COI have had the fortune to speak with some of the world's most famous investors in the past few months for the podcast, and one theme continues to arise repeatedly - weak hands.I was so moved by my April conversation with Mark Yusko, that I had my YouTube editors pull together some of the clips on the subject, which you can watch here. My upcoming conversation with Anthony Scaramucci focuses on the same topic - getting in early on a company like Amazon, Microsoft or Apple, or on an asset like Bitcoin, and holding... forever. To paraphrase some of Mark's thoughts:Amazon once lost 95% of it's value, and has seen consistent 50%+ drawdowns over it's 20+ year history. It is just as volatile as Bitcoin. As Mark asks in the video - when was the right time to sell Amazon? Never. And How many people still own Amazon from the IPO? 4. Jeff, his ex wife and his parents.The reason is weak hands. Investors in the Amazon IPO suffered the dotcom bubble, a transition from being an online book store, countless drawdowns and the Great Recession. Each and every time there was downside, weak hands decided to sell.People get shaken out because they focus obsessively on price. As I always say - when in doubt, zoom out. Short term price action is utterly irrelevant if you are long term holder of an asset that you firmly believe in.In our conversation, Mark predicted that there would be a major sell off at some point this year for Bitcoin, and the best thing that investors could do would be to lock their Bitcoin away and make it impossible to sell.For various reason, I have the bulk of my Bitcoin in multisig or on platforms with white lists. It would take me at least a week to sell any of my longer term holdings. I want to protect myself from hackers, of course, but also from myself. Price should not dictate action for an investor, unless you are buying the dip. I am human, so putting systems in place to make me think HARD about selling is important.One amazing tidbit that he shared in the video was this - the best performing accounts at Fidelity are the abandoned and deceased clients. The dead people who never touched their assets are literally the most successful. Think about that.As Mark said, don't just do something, sit there. Active investing rarely beats a hands off approach and a long time horizon.The market will return, and those who continued to dollar cost average, buy dips and have strong hands will prevail. You just have to wait.Side note - the XLM trade on the BTC pair quickly hit its target of 850 for a roughly 10% gain. I don't see any setups I love at the moment, but am hopeful next week could be fun for altcoin trading.In This Issue:Weak HandsBitcoin Thoughts And AnalysisJP Morgan Is Allowing More Crypto TradesEIP-1559 Limited NFTsBlockFi In Regulatory CrosshairsThe Early Stages of Ethereum 2.0Ashton Kutcher, Mila Kunis, And Vitalik Buterin?My Recommended Platforms And Tools
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The Wolf Den #292 - Weak Hands
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This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COI have had the fortune to speak with some of the world's most famous investors in the past few months for the podcast, and one theme continues to arise repeatedly - weak hands.I was so moved by my April conversation with Mark Yusko, that I had my YouTube editors pull together some of the clips on the subject, which you can watch here. My upcoming conversation with Anthony Scaramucci focuses on the same topic - getting in early on a company like Amazon, Microsoft or Apple, or on an asset like Bitcoin, and holding... forever. To paraphrase some of Mark's thoughts:Amazon once lost 95% of it's value, and has seen consistent 50%+ drawdowns over it's 20+ year history. It is just as volatile as Bitcoin. As Mark asks in the video - when was the right time to sell Amazon? Never. And How many people still own Amazon from the IPO? 4. Jeff, his ex wife and his parents.The reason is weak hands. Investors in the Amazon IPO suffered the dotcom bubble, a transition from being an online book store, countless drawdowns and the Great Recession. Each and every time there was downside, weak hands decided to sell.People get shaken out because they focus obsessively on price. As I always say - when in doubt, zoom out. Short term price action is utterly irrelevant if you are long term holder of an asset that you firmly believe in.In our conversation, Mark predicted that there would be a major sell off at some point this year for Bitcoin, and the best thing that investors could do would be to lock their Bitcoin away and make it impossible to sell.For various reason, I have the bulk of my Bitcoin in multisig or on platforms with white lists. It would take me at least a week to sell any of my longer term holdings. I want to protect myself from hackers, of course, but also from myself. Price should not dictate action for an investor, unless you are buying the dip. I am human, so putting systems in place to make me think HARD about selling is important.One amazing tidbit that he shared in the video was this - the best performing accounts at Fidelity are the abandoned and deceased clients. The dead people who never touched their assets are literally the most successful. Think about that.As Mark said, don't just do something, sit there. Active investing rarely beats a hands off approach and a long time horizon.The market will return, and those who continued to dollar cost average, buy dips and have strong hands will prevail. You just have to wait.Side note - the XLM trade on the BTC pair quickly hit its target of 850 for a roughly 10% gain. I don't see any setups I love at the moment, but am hopeful next week could be fun for altcoin trading.In This Issue:Weak HandsBitcoin Thoughts And AnalysisJP Morgan Is Allowing More Crypto TradesEIP-1559 Limited NFTsBlockFi In Regulatory CrosshairsThe Early Stages of Ethereum 2.0Ashton Kutcher, Mila Kunis, And Vitalik Buterin?My Recommended Platforms And Tools