What is the reason Oliver doesn't trade Bitcoin and how does he approach this during his speech?
Oliver addresses the question of why he doesn't trade Bitcoin, emphasizing that it's an 80% volatile asset with historically significant drawdowns, making it a losing strategy. He also highlights the misconception of viewing Bitcoin as an inferior asset to be traded for something superior, emphasizing its importance.
In his passionate speech, Oliver compares Bitcoin's volatility to the early days of Amazon and highlights the challenges of trading Bitcoin due to its unpredictable, short windows of opportunity, as well as the importance of accumulating it for the long term as an asset that empowers individual autonomy and privacy. He also discusses how trading Bitcoin can impact individual financial decisions, emphasizing that trying to time the market, especially for short-term gains, can lead to significant tax implications, transaction fees, and the risk of losing wealth due to impulsive spending.
His advice is to hold onto Bitcoin as a long-term store of value and focus on accumulating more satoshis rather than chasing the US dollar price.
Note: This talk was delivered live on Twitter (X) in September of 2023.
Oliver addresses the question of why he doesn't trade Bitcoin, emphasizing that it's an 80% volatile asset with historically significant drawdowns, making it a losing strategy. He also highlights the misconception of viewing Bitcoin as an inferior asset to be traded for something superior, emphasizing its importance.
In his passionate speech, Oliver compares Bitcoin's volatility to the early days of Amazon and highlights the challenges of trading Bitcoin due to its unpredictable, short windows of opportunity, as well as the importance of accumulating it for the long term as an asset that empowers individual autonomy and privacy. He also discusses how trading Bitcoin can impact individual financial decisions, emphasizing that trying to time the market, especially for short-term gains, can lead to significant tax implications, transaction fees, and the risk of losing wealth due to impulsive spending.
His advice is to hold onto Bitcoin as a long-term store of value and focus on accumulating more satoshis rather than chasing the US dollar price.
Note: This talk was delivered live on Twitter (X) in September of 2023.
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