The early adopters of any investment instrument are initially viewed as insane. Take for example the late Matthew Mellon who died a Billionaire because of early investing in XRP. Mr. Mellon invested heavily in XRP by putting down $2 Million as initial capital for investing in the digital asset. His investment would peak at $1 Billion when XRP was at its prime back in January. Mr. Mellon followed his guts as well as doing all his research before he went all in.
When interviewed by Forbes magazine back in February this year, he had this to say about crypto:
“Crypto is scary and dark. It’s anti-America. I am pro-America, pro-business and pro-bank. That’s why I went with Ripple.”
This statement summarizes why he went for XRP. He also went on to add that his family thought he was insane for putting down $2 Million on an unproven investment:
“It’s $1 billion virtually for free. I actually have earned it because I was the only person who was willing to raise his hand. My family thought I was insane when I knew it was a home run.”
His story is unique for it exemplifies one of the mantras of investing that says HIGH RISK, HIGH RETURNS. LOW RISK, LOW RETURNS.
So why keep HODLing your BTC, ETH, XRP, LTC, TRX and more?
The following statements might sound cliche, but this is what is going on right now in the crypto-verse.
WE ARE AT THE CUSP OF SOMETHING GREAT and REVOLUTIONARY with cryptocurrencies and blockchain technology. As is the case with everything that is new, the general perception to the general public is one of fear and doubt for it is purely unknown. Once we do our research and peel down the layers of mysteriousness, cryptocurrencies become the most wonderful investment option our generation has ever seen.
Sure, there will be serious ups and serious periods of decline. But that is part of the ride whenever we embrace a new market. It is part of the high risk, high reward part of investing. Therefore, this trying time in the crypto-markets can be reacted to in three ways:
- Total capitulation by selling and cashing out
- HODLing knowing that better times are ahead
- Making an entry into the crypto-markets when the prices of our favorite digital assets are as low as they are
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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