How much time do you spend thinking about Bitcoin?
Not reading about Bitcoin. Not talking about Bitcoin. Not fighting about Bitcoin.
There’s a big difference.
The reason is propaganda. There are a lot of people, institutions, and governments out there and they’ve got their narrative.
And the narrative is…BITCOIN IS NOT MONEY. Well, that’s what is at the root of it all, but they spew forth a billion arguments.
Maybe it’s time to just sit and meditate on Bitcoin for a bit…
Bear Market Blues Can Shake Your Confidence
A lot of us just came through our first bear market.
While Bitcoin has recovered quite a bit, many of us stacked, stacked (and stacked some more) during the last bull. Buying Bitcoin happened from $40,000 all the way up to the top near $70,000!
Did we make a mistake?
Fiat brains will tell you so.
They’ll post charts every day and twice on Sunday showing the drawdown from late November 2021, until today…
Don’t fall for it, don’t lose your conviction. Don’t listen to the naysayers, the haters, and the flat-out liars.
Eliminate Paralysis by Analysis
The sheer amount of information out there on Bitcoin can be overwhelming.
And there are plenty of opinions out there about the future of course…but you know the old saying about opinions and a$$holes, everyone’s got one!
So, what’s a pleb to do? In a word - simplify.
Audit the information you are taking in day-to-day.
Are you following traders on Twitter? Are you stuffing your mind with content from macro bois? How about dollar apologists? Or how about the monetary metal maximalists who are slamming Bitcoin at every turn and predicting a return to the gold standard?
Clear your mind…
Review who you are listening to, and how often you are listening to them. Not that you need to live in a Bitcoin echo chamber, but all of the arguments made against Bitcoin have been debunked. There’s no need to consider FUD from haters in 2023.
While it can be tempting to try to “time” the market - you never really know when Bitcoin can launch into one of its massive upside bull runs. You don’t want to miss it…
Time in the market, rather than timing the market.
Long Term View - Always Look Out a Decade with Bitcoin
Like Warren Buffett stated: If you’re at a crossroad in your investment decision, get in a room by yourself, and just think…
Think about the long-term.
No, one year is not long-term.
A decade is long term.
Two or three decades…even better.
How about a full century? Can you envision what the world will look like then?
Where do you think Bitcoin will be in 2123?
Now that is a thought exercise that will harden your bullish conviction and encourage you to HODL through thick and thin. To save for the next three or four generations that you produce…
Then you will have clarity.