WHY YOU MUST BUY BITCOIN AND DON’T TOUCH IT - MARK YUSK

WHY YOU MUST BUY BITCOIN AND DON’T TOUCH IT - MARK YUSK

In this interview, Mark Yusko explains why people should buy Bitcoin and hold it for as long as they can. Below is the summary of the content:

Amazon has been a public company for 21 years. Every year, it's at a double-digit drawdown at an average of 31%. It also fell by 50% five times and more than 90% twice. This proves that Amazon is a volatile stock. It is interesting to note that the volatility of Amazon is almost precisely the same at 1% as the volatility of Bitcoin. Interestingly, the compound return at over 200% is almost precisely the same. Now, Amazon is 21 years while Bitcoin is 12 years, so Amazon has got a better track record.

The question now is, "What was the right time to sell Amazon?"
You'll agree that the answer is "Never."
How many people bought it 21 years ago and hold it till today? Only Jeff, his mom, dad, and ex-wife.
Why didn't anybody hold it? Because they chickened out. So, people get chicken out because they focus obsessively on price.

A product called a risk-managed Bitcoin was launched in December. The aim was to mitigate volatility to protect investors from their emotions. All of us react to volatility the wrong way but in a human way. Meanwhile, the best thing you can do in investing is to find volatile assets early, buy and hold them and never look at them.

It will interest you to note that the best performing accounts at Fidelity are the abandoned and deceased clients which nobody has ever touched. So, because people are prone to do something and can't wait without doing anything, they tamper with good assets.

We're going to have another bear market in Bitcoin. It's cyclical and caused partly by human behaviors. The reason is that humans are the ones that go from skepticism to optimism to enthusiasm to euphoria. When you get to euphoria, people pile in and price moves way up above fair value, and then bad things happen.

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