The author of the Bitcoin Bible explains why they stopped seeing Bitcoin as just another speculative bet. After recognizing it as a fundamental shift in finance, they started telling friends and family to allocate portfolio portions to it, despite price swings from $400 to near zero.
Chapters
If I would've looked at Bitcoin when it first came out without really going into this rabbit hole and looking at recognizing all the features, which makes it so unique, I would've treated it just like any other investment. I would've bought it. And you hear the stories, this guy had 1,000 Bitcoin, and he ended up selling it all because it went up to $2 or something like that. You know, I probably would have been one of those guys too. It was an investment. And I recognized— when I recognized that it was more than an investment, it was a whole, uh, flip in the financial world. You know, it's a whole new system. Uh, that's what really cemented it for me. And at that point I started with obviously friends and family. Being in the investment world, I always get my friends and family that look to me for some type of advice or bounce things off of me. And I tell them all the time, put a portion of Bitcoin for all the reasons that I could explain it 100 times. And we've seen the booms and busts in Bitcoin. Everybody's heard the stories where it goes up to $400, then it went down to 2 cents or whatever. I'm making those numbers up.