Fellow humans,
Not if, but when bitcoin reaches $100,000 per coin (2024-2026 in my opinion), we’ll hear people say things along the lines of I wish I bought a whole bitcoin at $25,000, or I’m waiting for bitcoin to drop back to $25,000 so I can buy a whole coin. I’ve had the same mentality in 2017 when bitcoin was $3,200.
I was talking with people about waiting until the price fell back to $1,500 so I could buy a whole coin in a single purchase. That was over 2,000 days ago, and I’m still waiting 🤡. For those who might be new, dollar-cost averaging into bitcoin is the most effective strategy for most investors. Stack sats!
Everybody wants to be an early investor in successful projects. Nobody wants their investment cutting in half. Everybody wants to go to heaven, but nobody wants to die! Who doesn’t want to win all the time? As much as we desire constant success, it’s not a realistic goal, so I shoot for majority instead.
As long as the outcomes of my pursuits end in my favor at least 51% of the time, I’m successful. I could forever regret the time I squandered the opportunity to make $250,000 in Dogecoin, or when I refused to buy Ethereum at $100, but holding onto failures does not help us move forward in the right direction.
By the grace and generosity of God, new opportunities are always being created and presented. We just need to be open for His wonderful gifts. Last month I had a moment of weakness, and thought about liquidating my entire investment portfolio, then I remembered an invaluable piece of wisdom — never quit.
Two days later, Stacks (STX) was up 15 percent, and I remember feeling relieved and grateful. In a sense, I felt like God rewarded me for sticking with the plan, and not letting my emotions make decisions. Then, STX was up another 132% the following week (my 33rd birthday). Moving markets is light work for Him.
Working to learn something new can be uncomfortable, awkward, and inconvenient. Being patient during rough times requires immense discipline and confidence. Witnessing our goals unfold is spectacular. I’ve done my research and homework on Stacks (still learning too), and I’m planning to hold for years.
As much as I hate trends, I’ve learned how to identify not-yet-realized economic trends in order to maximize profits. Decentralized finance (DeFi) has endless potential in technology and financial markets. Ethereum has been the #2 cryptocurrency by market cap for a valid reason — DeFi is useful.
One of the most important aspects of DeFi is smart contracts, which are basically self-executing computer code. Once specified conditions are met, the contract does exactly what it’s supposed to do, rather than relying on humans to push buttons. DeFi will likely play a huge role in the future of the internet.
Don’t get me wrong, DeFi and Bitcoin are not playing the same game. Grouping Ethereum or Stacks, and Bitcoin in the same category of assets is a mistake. Yes, all three assets are accompanied by their own token, but Chuck E. Cheese also has a token, yet we understand the concept of intrinsic value differences.
Bitcoin and DeFi have separate use-cases. Like gold, bitcoin is money. Neither gold nor bitcoin needs to accomplish anything other than storing economic value. Gold has been the undisputed leader of physical money for thousands of years, and bitcoin has already established itself as the digital equivalent.
Although DeFi and Bitcoin have different use-cases, DeFi tokens and bitcoin trade in the same market, which means game-on for an open-minded investor like myself. My goal of buying or trading altcoins (any crypto token other than bitcoin) is to earn more bitcoin, not just dollars. It’s all about trading pairs.
Looking for a quick way to double your bitcoin holdings? Hindsight is 20/20. I do not recommend day-trading for like 99% of people 🫠.
As you can see in the second chart, STX floated around 30 cents for months, then all of a sudden jumped to 1 dollar, and has since pulled back to 65 cents.
For those curious about the Stacks network and road map, click here. In simplistic terms, Stacks is like Ethereum, but the Bitcoin version. The network is continuously upgrading, the community is growing, and the market value has been on the rise in 2023. Although I’m done buying, I’m not done holding.
Until next time,
Salvatore Norge
P.S. — Recently I’ve been watching Ed Bassmaster’s hilarious videos.
“Keep falsehood and lies far from me; give me neither poverty nor riches, but give me only my daily bread. Otherwise, I may have too much and disown you and say, ‘Who is the Lord?’ Or I may become poor and steal, and so dishonor the name of my God.” -PROVERBS 30:8-9
I’m not very wise. Never financial advice. Do your research.