I Have a Friend Who's the Most Financially Responsible Person I know. He entered the crypto market in 2017 at the ATH. Here's how it went.

Quick story. He's the most responsible person I've ever known.

The type of person that stays at a job for a very long time. He's every employers dream, he will be there until the company goes out of business. You can always count on him.

Hes never taken out loans for a car. He saves until he can buy one straight out. He tells me he never wants to deal with the burden of constantly owing money. He even bought his house in full. Seriously. He saved his money for 15 years and held it in an interest bearing account. You don't see many middle class people saving that much since they were 18. He even prepaid for his phone service. If he can't afford it with cash, he just won't buy it. Makes sense.

So he never invested into ANYTHING either. One day he asked me some simple things about crypto because he didn't know jack.

I told him the deal that prices can be very volatile.

He bought exactly

• 1 whole bitcoin at $17,000
• 1 ETH at $900
• 1 LTC at $150

He said something about better to have a complete coin instead of fractions. Said he can't deal with fractions because it complicates things.

Idk what the fk he meant by that but whatever. He wanted 3 main ones and told me likely if everyone heard about it, people will most likely get those in the future. ????

I guess we all have our own strategy.

His goal he told me was to cash out exactly $50K while leaving his original investment amount in.

Less than a month later everything crashed.

He had no reaction. He told me he expected that eventually but believed it will be back.

When I told him how many people get scared and sold low he told me in his exact words.. That's horrible buying just to sell low a month later, that's a problem, investments take years to mature

The way he described it I was almost certain he had stock market experience or something. He didn't at all. But he worked for an insurance company for many years so maybe he picked up something I don't know.

So that's what he did. The most financially responsible person I know just Held. Well, recently when BTC was 65K. He cashed out exactly $50k distributed evenly from BTC, and ETH. Left the rest in.

He did this calmly like it was just another day, and now he wants to buy $5000 in moons but says he doesn't have time to figure it out.

So there you have it. If a financially responsible person says "You have to just Hold". Then that means there's some logic behind that.

Just hold. You plan to hold for 3 years or 5? Then stick to your original plan. Don't sell low a month later. That's not how long term investments work.

Note: I believe he had no reaction to everything crashing because of his years of patience saving. You have to be very disciplined as a young adult to have enough for a brand new BMW, and not spend any of it, not even on a nice watch until your final goal is met.