Crypto Takes The Elevator Up and The Window Down
Crypto is SUPER volatile. It's not uncommon to see 10-15+% changes up or down in a single day. Make sure you have the stomach and the long-term mindset with crypto, and not get too swayed (it's hard!) by daily changes.
<aside> 📈 What matters is "Time In", not "Timing" the Market.
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Concentration Builds Wealth, Diversity Protects It
If you've ever wanted to get good at something, you have to lean in and invest time at practicing that thing — at the expense of other things. Investing is no different - if you want to get wealthy, you have to choose your bets and concentrate your portfolio around them.
"I like putting all my eggs in one basket and then watching the basket very carefully." — Stanley Druckenmiller, famed investor
Being diversified is a great way to protect wealth (you're in enough buckets so one bucket going down won't dramatically affect your net worth) — but not a good way to build it.
If you are a crypto believer, put your $$ where your mouth is and bet sizably on your conviction.
https://twitter.com/arampell/status/1421127179035758593
<aside> ⚠️ THIS IS NOT INVESTMENT ADVICE!!!
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<aside> ⚠️ PSA: The right way to consume this playbook is to consider these strategies + opinions as a map towards your investing goals. As you learn, double-down on what you agree with and/or are working, and drop the ones that aren't. It is critical to understand that these strategies/opinions, and you should invest based on your understanding and opinions of the space.
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Wealth is built by owning a collection of appreciating, scarce assets (such as crypto) for long periods of time. Your mission - should you choose to accept it - is to be greedy in stacking assets any chance you get - no matter how small.
In crypto, focus on stacking best-in-class category leaders (BTC/ETH).
Great ways to do this is using yielding (Rule #11) or rewards (Bitcoin credit cards, Lolli, etc).
Oh and lean in when prices are low!