Ted Rogers Profile picture
Jun 23, 2018 9 tweets 3 min read Twitter logo Read on Twitter
1/ I understand the pain from #bitcoin's drop in price but the only relevant question is “Has anything changed with my initial investment thesis?"
2/ If the thesis that justified your investment in #bitcoin is still valid, then logic dictates HODL or increase your position.
3/ If your rationale for investing in #bitcoin no longer exists, then sell and move on. Take the tax deduction.
4/ If you never had an investment thesis, didn't understand what you were investing in, risked more than you could afford to lose and/or expected to get rich quick, then you've learned several priceless lessons - ones that may save you from ruinous losses in the future.
5/ Personally, nothing has changed in my investment thesis since 2013, except the time frame. #bitcoin's spread is going to take longer than I expected, mainly because of regulations/compliance and their impact on onboarding and user experience.
6/ On the other hand, risks to #bitcoin today are much lower than in 2013 and my conviction in the investment is much deeper. #Bitcoin has won the store of value (Gold 2.0) use case and will ultimately become the world's reserve asset.
7/ Chances are good that #bitcoin will also be used as a currency in, at worst, several important use cases, e.g., large international settlements, and I believe it will become a global unit of account.
8/ Final thoughts:
- the pain of a bear market is when you earn the rewards of a bull market
- #btc will return to $20K & move beyond, HODLers will be thankful for every bitcoin they never sold
- my main regret is not having more $$ to increase my BTC position at these prices
9/ Don't confuse trading and investing or you'll suck at both.

P.S. All this is just my opinion - smart people disagree with me. I'm not giving investment advice. FFS do your own research and come to your own opinion on bitcoin - you won't regret it.

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More from @tedmrogers

Jan 10, 2018
1/ Don't conflate sound money and currency. The former is extremely rare and very valuable. The latter is common, easily-created and not very valuable.
2/ The biggest competitive advantage investing in the "crypto" market is a deep historical knowledge of the evolution of "money" and a fundamental understanding of what it is.
3/ That's very fair, since that understanding takes work and research that most aren't willing to do, including people at the highest levels of finance.
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