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- There Is No Bad Time to Buy Bitcoin: Here’s the Proof
There Is No Bad Time to Buy Bitcoin: Here’s the Proof
The Hidden Truth About Asymmetric Opportunities
There Is No Bad Time to Buy Bitcoin: Here’s the Proof
Ever since I first recommended bitcoin in April 2016 at $400 and change, people have given me excuses about why they’re waiting to buy.
These excuses are usually along the lines of, “Bitcoin has gone up too much for me to buy it now…” Or, “I’ll wait until it gets cheaper.”
Then I have another cohort of folks who have said to me, “Sure, it makes sense to buy bitcoin, but I have lousy timing. I always buy the top. So I’m staying out.”
Back in 2016, I explained to my readers that timing didn’t matter.
After I sold Oracle stock too early in the 1990s only to watch it skyrocket over the next decade, I learned over the long term, timing was immaterial. You could have bought every high in Oracle from 1986 until 1998 and still made money.
I explained to my readers that when you get into a megatrend early, the power of the trend will bail you out of bad timing. The bigger risk is not being invested at all.
Throughout 2016 and 2017, I hammered that message on bitcoin all the way up from $400 to $700… $1,200… $2,000… $5,000… and yes, even to $20,000.
Sure, the bear market that followed in 2018 was rough. We saw BTC drop to a low of $3,500. But the same thing happened to me in the early 1990s with Oracle.
I watched my Oracle shares drop 80%. But Oracle had the massive internet adoption trend behind it. And of course, it came roaring back. By the end of the 1990s, Oracle had gone up as much as 14,000%.
Back in the early 1990s, I was too young and too inexperienced to really understand the upside potential I had in my Oracle position. So I let myself get shaken out of it. That’s a decision that added 20 years to my wealth-building journey.
Think about that.
I had the winning lottery ticket… And I blew it. It took 20 more years of working and investing to make what could have been mine by the end of the 1990s.
I wasn’t going to make that same mistake again with bitcoin.
So even though many of my readers were very upset with me, I faced them squarely and told them to not only hold, but to buy more. I told them it would be emotionally difficult… But it would change their financial life if they listened to me.
I explained to them that bitcoin would eventually see mass adoption. I said it would become a widely held financial asset because it possessed attributes not found in any other asset class.
Attributes such as having a fixed limited supply, censorship resistance, no requirement for a trusted third party, instant portability, and the ability to self-custody.
I explained how the world would one day highly prize these unique traits. All we had to do was be patient, and time would do all the work for us.
Since the 2018 lows, bitcoin has risen as much as 32x. And it’s been up as much as 280x since my original buy recommendation at $400 and change.
But what if you had terrible timing and bought each year at the highs?
What then?
The Terrible Timing Test