Most wouldn’t hold Bitcoin after it past $10

There’s this rosy picture of Bitcoin and becoming a millionaire today if we had invested in it 10 years ago.

The truth of the matter is, most of us (including myself) would not have held Bitcoin if it had hit $10. And for the most patient of us, maybe $100.

You would have to be a lunatic to continue holding a coin that had 10x’ed or 100x’ed.

Put it into perspective and imagine Cardano or Matic shot up to $5 and then $10 this year. How many of us would continue holding it? How many would sell it to recoup losses in the past year? Now imagine it just kept going up. It went to $50.. $75… hit $100? That would be life changing money for the few thousand dollar investments that you had.

If you invested $10k in Cardano today and it shot up to $100, you’d have $2.85 million. No way in hell would a reasonable person continuing holding it for it to maybe go to $150? It’s more likely than not that it comes back down.

Cardano is just an example, but pick your favorite coin. If it shot up 10x, most of us would sell.

So it’s fun to imagine how we would hold Bitcoin for 10 years as it shot from sub $1 to $69k. But it’s not realistic. Only those who forgot their secret phrase, lost their hardware or forgot they ever purchased bitcoin would hold it as it went up 69,000%.

We would more likely take out the money, like any sane person would do, and reinvest it elsewhere or go buy a nice house.

That’s just my two sats.