I recently wrote a blog post titled "how to get rich doing absolutely nothing". It seemed to resonate well with a bunch of you, so let's pull on that thread a bit more and utilize the context of my biggest investment: Bitcoin.
I've been buying and HODL'ing BTC for almost 8 years now. I've spent a lot of time learning this industry, investing in it and now even building infrastructure within it.
The idea of doing nothing and getting rich is a highly appealing one. I have never met a single human being who did not want to lay around and get wildly wealthy.
It's not quite as easy to do as you might think. As humans, we love to meddle into things. We don't like to let things lie and sit. We are not patient.
However, patience is a virtue. In most aspects of your life, applying a bit of patience will allow you to reap massive rewards. I like to apply patience on large timescales and hustle on short timescales.
Meaning, my short-term goals are things I sprint towards like I'm being chased by a rabid bear. My long-term goals are things that I am patient with and allow time to mature and evolve.
Bitcoin: Relax, The Cycle to $100k+ Hasn't Even Begun Yet
The featured image in this post is from a tweet by Will Clemente. He does some great on-chain analysis of Bitcoin.
Just look at how early we are in this cycle relative to other cycles. Most people are standing around and wondering wen BTC moon and if it will ever recover.
Not me, I've been in accumulation mode ever since BTC dipped below $30k. If you go back a year ago to my blog posts, I started talking about buying more BTC and dollar-cost averaging into a larger position.
Now is the time to accumulate Bitcoin - in my personal opinion, NFA, ofc - and this is a massive opportunity to (once again) catch the cycle at a good moment.
The Do-Nothing Approach
My Do-Nothing approach to investing actually takes a lot of work. I spend a lot of time reading, researching and learning about the industry. I am always up to date on what's happening.
BUT, I DO-NOTHING when it comes to my actual position. Instead of trying to sell the tops and buy the bottoms, I continue to accumulate when I believe that Bitcoin is undervalued. Do I find BTC to be undervalued at $26.5k? Yes. Keep DCA'ing.
Doing nothing also entails being busy elsewhere. That's why you see me grinding away building the LeoVerse. My Bitcoin portfolio is sitting there for long-term wealth creation and it's been doing a fine job of that the past 8 years.
While I sit and continue to accumulate that portfolio, I am also occupying myself elsewhere in the industry. In fact, right here where you're reading this post.
I believe that generation wealth is going to be made in the coming BTC Cycle(s). One only needs to accumulate and do nothing.
Don't get caught in the day-to-day noise. There is 10x more noise in crypto than any other industry. Keep your head down and stick to the plan.
About LeoFinance
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And when will you make a post talking about our favorite project (Outside of Hive of course) Thorchain? Can't really believe that I can get Rune at these prices right now
It is a very informative post about the behavior of Bitcoin. Before reading this post I think that crypto is a game played by whales. Whales increase and decrease the price to liquidate new small accounts.
But after reading this post, Now I have the knowledge of 8 years of experienced person that Bitcoin set its own price according to the market situation. Your confidence forces me to believe that now it is time to invest in crypto. Thanks for creating this very interesting post for newbies like me.
I don't know for what reason but some say this is the last bull market...