So just to clarify, this is actually not a TradFi post.
This post is about life. Life is an adventure and the bigger the adventure, the more highs and lows you will experience.
Now life does not NEED lows and you are not GUARANTEED highs.
Sometimes good things happen to bad people and sometimes bad things happen to good people.
Even if good things can happen to bad people. That does not mean it’s worth it to do bad things to get ahead. Doing bad things for the “right” reasons is an expensive trade and it’s not worth it imo.
Life isn’t fair and sometimes life doesn’t make sense. Trying to cut corners because you believe you have been treated unfairly is an expensive trade imo.
Even if life isn’t fair, life is still an adventure.
There is always lots to do even if you have a simple lifestyle.
So you may be wondering why I have included this chart of Microstrategy.
I will get to that. So Micheal Saylor is the founder of Microstrategy.
He has been a pivotal figure at this company for its entire existence.
Micheal Saylor is very wealthy but his journey has been bumpy to say the least.
Micheal Saylor used to be a critic of Bitcoin. But Micheal Saylor does not get married to his ideas like some people do. He pivots.
He adopted Bitcoin as a treasury asset in August 2020.
Prior to August 2020, Microstrategy was a “Zombie company.”
What is a Zombie Company? A “Zombie Company” is a company that only makes enough money to operate and cover its interest expense but does not grow enough to pay off its debt.
A lot of Zombie Companies either go out of business or get bought out by another company. But Microstrategy bought Bitcoin.
At the time it was a “crazy” idea. If you look at this chart it still looks kind of crazy lol.
Most Zombie Companies are too scared to do anything bold.
But Micheal Saylor did not want to settle for mediocrity and he did something tactical and bold.
Businesses get much cheaper debt than individuals and businesses get better terms on their debt than individuals.
Micheal Saylor leveraged this idea (pun intended) to buy Bitcoin.
Micheal Saylor’s life has been one hell of an adventure.
Now Micheal Saylor is a super genius. He is very smart. Most people are not Micheal Saylor.
I dam sure am not Micheal Saylor. Like if you look into Micheal Saylor’s full history there is no way I could do what he has done over the course of his life.
I am a different person and I have my own adventure.
Now Micheal Saylor is not perfect. That first pump and collapse in the stock price back in the 1998-2000s was because the SEC accused Microstrategy of accounting fraud.
Microstrategy did not admit guilt. They paid a fine and restated their financials.
Then the dot com bubble burst.
It took a long time before Microstrategy had a major turn around. And at the end of the day, all Microstrategy did was buy Bitcoin 😅.
Now I’m not saying people should buy Bitcoin or Microstrategy by any means.
I am just pointing out things do not happen the way we expect.
Micheal Saylor worked his ass off for 20 years before his company made a comeback.
Sometimes that’s what happens. We fail but we still work our ass off until that next opportunity presents itself.
Now Microstrategy is way down from its all time highs. But that is Bitcoin for you. Lots of highs and lows.
Life has a lot of highs and lows. Sometimes we just have to wait, stay positive, and keep working.
I am not a fan of bear markets. I, just like everyone else, wish markets always went up. But that is not how life works and that’s not how markets work.
Sometimes you just have to wait for the next big opportunity and pivot when that time comes.
Cheers,
Hurt
„Life has a lot of highs and lows. Sometimes we just have to wait, stay positive, and keep working.“
That‘s my approach though its not an easy one. I am keeping my head up and go on nevertheless.
I really liked this post, Hurt since it had a lot of wisdom in it. Really.
And what you wrote about Saylor is exactly why I admire this guy. He went on, stayd alive and he finally turned a bunch of lemons (zero interest rates) he got from the market into a juicy fruity lemonade with adopting BTC early both personally and with his company.
Thanks! Yea I really admire the guy too!
I wish I met him before he got famous. They have this thing called Microstrategy World. It used to be a lot easier to get into and meet Saylor but not as much anymore.
Kind of interesting that super nerds become famous and admired in today's society!
Maybe I am lucky and will be able to see him live at BTC Prague this summer. Fingers crossed.
Dude that would be awesome if you get to meet him!
Hopefully he is not an ass like most famous people are 🤣
Yeah. Fingers crossed. I don‘t expect to get near him since there will be hundreds of people wanting to take a pic or anything and I am bot the kind of „celeb groupie“. But who knows? Life can surprise us sometimes as you wrote in your latest post. 🤷🏼♂️😋
At least being there will create the opportunity to meet him? 🤷♂️
But yea from what I heard he has a lot more security now. He's a famous now so they are trying to keep him safe 😅
MSTR has a lot of key man risk with him so it makes sense they are protecting him.
True. I‘ll do my best and have my camera ready…😋
I gotta say that these few weeks have almost only been lows for nearly my entire portfolio! 🤣
Thankfully I already deleveraged from all my margin trades and if this turns into a global extended bear market again, I'll just hunker down. I do hope it doesn't though. I don't like seeing myself lose money at all! 💸
I'm not sure how long this bear is going to last in crypto.
I honestly thought the FED would have cut rates more by now.
If oil stays high for too long it could really slow down the global economy.
Lots of uncertainty right now so makes sense markets are down as uncertainty usually is interpreted as more risk.
Glad to hear you were able to deleverge your margin trades in time. I mostly avoid leverage myself.
I never got into the whole MTSR thing. I always preferred to hold my BTC myself. It just made more sense to me. I guess some people have made a ton of money on MTSR though, I don't know.
Some people have made a ton of money on it and some people have lost a ton of money.
It's a hard trade. I have never recommended it to people as an investment.
It's not even really an investment like Bitcoin is.
MSTR is a company and they have changed what they are doing to acquire Bitcoin many times.
MSTR is more of an active trade imo as opposed to Bitcoin which is pitched as a HODL.
Short answer, I think the majority of people should probably avoid MSTR like the plague 😆
A fair assessment!
Talking about projects and life...
A very interesting insight about it it's to always re-check the project, because things always change, just like what happened with microstrategy!
Yes! And I would assume longterm Microstrategy will change again.
Who knows what they are going to do with all that Bitcoin longterm. I don't think anyone knows.
That's a great question we don't have an answer yet. Years in the future what they'll do with it.
Yeah. Keeping positive it should be. I just hope it can still last long even with all this odds right now.
Who knows man. Really hard to predict how long these bear markets last.
we just really have to wait patiently, while trying other things. fun things.
In life you have to hope to step on less shits possible, you can't avoid them all, sooner or later you will hit one and have to stop and clean your shoes and walk again, hoping to step on an other one the later you can... You need to have the right mindset, the shoes cleaner
Mindset is a big factor.
Interesting analogy with the shoes. I guess people who never get their shoes dity so to speak don't get as many opportunities.
The above sentence was my mediocre attempt to keep the analogy going 😆
Haha well we are very colored here in speaking 😂
Interesting.
To be honest, I had never seen an "all time" chart of Microstrategy till just now... and this whole thing reminds me a bit of what I feel is an "overlooked" approach to investing — because it is neither "exciting" nor "sexy" — which is the value of sheer patience.
If you know you have a good and valid idea and execution strategy, sometimes the only way to "make it work" is to be really really patient. Maybe not so much applicabel to investing as to business in general, it seems a lot of projects fail not because they weren't viable, but because the principals/founders quit too soon.
=^..^=
Yea the all time chart is wild LOL.
I would lean towards patience is important in business and investing.
I guess it really depends on the business though.
so when will HIVE make new highs?? :P
actually, being bipolar, my goal is to stay stable somewhere in the middle of things.. no highs or lows..
New Highs? Who knows.
I think we should think more about getting to 7 cents right now 😅
Got luck with staying stable in crypto. This is a hard space to not want highs and lows.
Good luck on your Hive adventure!
In a weird way, human psychology makes it so that you'll constantly experience highs and lows.
If you live in relative comfort for sometime. Your brain would make that the new baseline that it measures lows and highs from.
And if you live in terrible conditions, that would be your new baseline and even a slight improvement to it would be a high. Even though it is objectively terrible.
Totally agree.
Just as an example, within the same country you can find happy people who live in poverty and you can find financially wealthy who are absolutely miserable.
Psychology of the individual is a huge factor on “happiness.”
After experiencing the altcoin crash, a bear market doesn't bother me. At this point, a crypto bear market would even be great.
With the same money, you can buy more tokens.
If Saylor wants to pray to the God of BTC, let him; it's his business. For the next bull run, whenever it may be, I'd rather bet on Vitalik than on BTC.
Fuente: https://www.losandes.com.ar/economia/vitalik-buterin-el-creador-de-la-cripto-ethereum-dejo-de-ser-billonario
When you say betting on Vitalk, do you mean betting on ETH?
Yes, I think it can rise at a higher rate than BTC in the next bull market.
That is an interesting prediction.
What makes you think that?
I don't worship Bitcoin. I don't consider it digital gold.
I see Ethereum as a highway connecting other highways. And I see it as having a longer lifespan.
Time will tell.
If I look at the current prices of my cryptocurrencies, I should say I'm a disaster. But the mistake I made was not taking profits, staying invested (I traded many for others), and waiting for a crazy BTC price of 200k.
The only good thing is that the coins I chose didn't turn out badly.
Except for Memecoins, which I don't consider an investment (I see them as an expense that could go to zero or give me something).
That’s an interesting idea. I never really thought of it that way.
It's already being built; it's nothing new or innovative.
POL (ex matic), arbitrum, Optimism (OP), and Immutable X are examples of ETH's Layer 2 architecture.
In the crypto world, everyone makes their own decisions; they're always personal.
Everyone does what they think is best.
This week, Arcade Colony crashed. Should I kill my friend who suggested I buy 1 million Colony tokens? I don't think so. I was the one who bought them, playing Moonkarts.
He took a risk and succeeded; strategy and a lot of luck. But the most important thing was his determination to take the risk despite everything. A tremendous lesson.
Nothing ventured, nothing gained
I think people assumed what Saylor did was riskier than it actually was.
Like Saylor using corporate debt to buy Bitcoin is very different than a retail trader trading on margin.
Like Saylor only has to meet the terms of his debt agreement and he will never be margin called.
The money to be made in the MSTR trade already happenened imo.
The money that was made was making a bet that the risks were not as big as the average investor thought they were.
At this point MSTR is in the NASDAQ 100. Saylor can't do much better than that. Maybe he gets in the S&P 500 but that's the last big thing he can do with MSTR in terms of getting added to index funds.
I believe MSTR getting added to the S&P 500 at best would create a very small increase the price of the stock and will mostly be symbolic in the sense that Bitcoin is fully ingrained in Traditional Capital markets.
I need to digest this information properly to understand it; finance is a whole world in itself, it takes some serious thought. Thanks for replying, I promise I'll do my research, please excuse my ignorance.
with hReplier
We are ignorant in the world of TradFi 😇
I love this story because it has a very, very happy ending, just the kind I like.😍
(Feelings are beautiful too.)
Twenty years is a long time. It takes a lot of perseverance and tenacity to achieve what this man did. He dared, and he succeeded.
Leverage kills.
Absolutely.
A lot of retail traders yoloed into MSTR with leverage and options.
Then Jim Chanos came out of no where and shorted MSTR down to 1.2 mNAV.
It’s a rough trade. Lots of lessons to be learned from this one stock in particular.
The moral of the story with Strategy is that when the going is good, it's very good, and if the going is bad, it's very bad! It's almost like a leveraged Bitcoin investment. He definitely has amassed an incredible amount of Bitcoin in a relatively short amount of time though.
Congratulations @hurtlocker! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next payout target is 20000 HP.
The unit is Hive Power equivalent because post and comment rewards can be split into HP and HBD
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPNo matter how experienced a person is, they will definitely make a loss in such a market
Adventures always have peaks and valleys