I saw a tweet about a wallet address that purchased $TRUMP for one million dollars, so I am not sure what price they paid, but they were in profit of three hundred sixty one million dollars and held for a while.
The most surprising thing here is that this person didn't take profit at $361M despite the fact that they already did x360 which is probably going to be one of the biggest wins in a crypto cycle.
On the surface this seems like complete madness, at X10 most people would already start taking profit, especially when it's a risky meme coins that's pumping based on vibes and hype with no utility. But then I realized something.
So either this guy/woman has insider information, they are ridiculously stupid, or they are extremely intelligent and understand the game they are playing.
Insider Information
Firstly, putting one million dollars in meme coins is something you'll not see everyday, and I don't even want to buy the narrative that the person may be a billionaire.
First, rich people do not become richer by spending their wealth in illogical ways. When rich people spend money, they usually intend to earn much more than that.
So this person may have insider information about this coin in order to have invested such a large sum of money and still be holding even after profiting by x361. This type of information allows you to comfortably hold a coin even when they are actively dumping or pumping.
This information makes you less emotional because you already have significant information on what might dump or pump the coin.
They Might be Extremely Stupid
I am calling them stupid because I believe they are new to crypto. To be honest, this person may have made a lot of money doing their business, and they may simply want to get richer, but I believe they do not fully understand how the market works and believe $TRUMP coin might propel them to one billion dollars.
Greed is what gives the impression that people are stupid. When people are in profit, they get the illusion that they can make more.
This is how it is so easy to become stupid, even if a person appears to be wise in other aspects of life. Crypto is a completely different game, and even the most prudent individuals can be destroyed by a little greed.
They Might Know What Game They are Playing
The third reason is that they may be confident in the game they are playing, which comes back to the first reason: they may have more information than we do. One million dollars is a lot of money, and as much as we like to mock figures in crypto, it would be insane to put such a figure in crypto.
However, I understand that there are a lot of wealthy people, and they are unlikely to go bankrupt by throwing a few million dollars around.
This is the confidence that comes from being a risky investor. While they are aware that they will not go bankrupt, they are also aware that if their risks are successful, they will most likely become wealthy. The downside is, they lose a few millions, the upside is that they can gamble their way to become far more richer then they started out.
This type of confidence comes with already being financially free, and it's why rich people can afford to risks, lose and still don't become poor.
They understand that if they take ten risks and win six out of ten times, they will most likely recoup their losses while still profiting excessively.
However, I still believe that $TRUMP is a huge gamble.
If this was combined with BTC or some other altcoins with potential, it would imply that they are most likely investing for the future.
Conclusion
This is actually a benefit of being wealthy. You can afford to be foolish every now and then; in fact, rash decisions like this can be potentially rewarding; however, if you are not financially capable, you may pass up potentially rewarding investment opportunities because you believe they do not make enough sense.
If you take a look at the crypto space, there are so many people who don't think alt coins makes sense anymore, but in reality, there are alt coins with solid projects with a potential 20 to x30 in the upcoming run.
At the end of the bull run, some of the craziest decisions will most likely result in mind-blowing profits, and not just for BTC maxis.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Posted Using INLEO
May be this is trump himself 😅👀
I don't think so.
Being in the know before the action is how billionaires are made. We just have to figure out how to get in there beforehand! I'm always on the prowl, but haven't found any real gems as of yet. If I find something I'll let you know right away!
!hiqvote
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