Read on Twitter
1/ Been getting many calls about #Bitcoin 
and whether now is a good time to buy. I'm not a financial advisor and these are my personal thoughts not financial advice. Do your own research before deciding what to do.
and whether now is a good time to buy. I'm not a financial advisor and these are my personal thoughts not financial advice. Do your own research before deciding what to do.
2/ There isn't a one size fits all answer here. It depends on
A) Your time horizon
B) Your ability to stomach volatility
C) Your discretionary income
A) Your time horizon
B) Your ability to stomach volatility
C) Your discretionary income
3/ In the long run I think #Bitcoin is still cheap. At R650k ($41k) I still think over the next few years it could more than 10x from here. At a $750bn market cap it's still 1/15th the value of #gold and I think it will far surpass the value of gold in the long run.
is still cheap. At R650k ($41k) I still think over the next few years it could more than 10x from here. At a $750bn market cap it's still 1/15th the value of #gold and I think it will far surpass the value of gold in the long run.
4/ I still stand by the below thought process and think #BTC will outlast many fiat currencies and by definition will then be valued at an exchange rate of #infinity. https://twitter.com/farzamehsani/status/905885543896113152?s=19
will outlast many fiat currencies and by definition will then be valued at an exchange rate of #infinity. https://twitter.com/farzamehsani/status/905885543896113152?s=19
5/ Timing is everything though. After the Dec 2017 peak of ~$20k, #BTC crashed 85% to just over $3k a year later. Many sold and crystalized a huge loss. But if you didn't sell and held til now 
https://twitter.com/farzamehsani/status/1347443757092888577?s=19
crashed 85% to just over $3k a year later. Many sold and crystalized a huge loss. But if you didn't sell and held til now https://twitter.com/farzamehsani/status/1347443757092888577?s=19
6/ Point is that if you buy now the price may 
. However there is also a very good chance that #BTC goes 
. In 2017 the #BTC price 20x'd so even after the 85% decline post the Dec 2017 peak, if you bought at the start of 2017 you would have still been up >200% at the trough.
. However there is also a very good chance that #BTC goes . In 2017 the #BTC price 20x'd so even after the 85% decline post the Dec 2017 peak, if you bought at the start of 2017 you would have still been up >200% at the trough.
7/ So if you are not prepared for please don't count on . You'll learn a lot about yourself through the ups and the downs. But it's important that you remain wise.
please don't count on . You'll learn a lot about yourself through the ups and the downs. But it's important that you remain wise.
8/ It's unwise to buy #Bitcoin with money needed for necessary expenses such as food, housing, school fees, healthcare and even the holiday you may be saving for in a few months. So start with money you can afford to lose and that you don't plan on pulling out for several years.
with money needed for necessary expenses such as food, housing, school fees, healthcare and even the holiday you may be saving for in a few months. So start with money you can afford to lose and that you don't plan on pulling out for several years.
9/ Don't just buy with the hope of getting rich. You may feel very poor in the short term if you're not prepared for the volatility. And be careful of using leverage - while this enhances any gains it magnifies your losses too.
10/ The best thing you can do is educate yourself. Not just about #Bitcoin . More importantly about the frailties of our current financial system. E.g. ask what it means that 1/4 of all USD came into existence this past year
. More importantly about the frailties of our current financial system. E.g. ask what it means that 1/4 of all USD came into existence this past year
11/ Read about money (authors like @nfergus @JamesGRickards @SteveForbesCEO). Read about #BTC (authors like @aantonop @saifedean @cburniske). Listen to podcasts (by @laurashin @APompliano @PeterMcCormack @stephanlivera). Engage on Twitter (w/ @AriDavidPaul @RaoulGMI @nic__carter)
(authors like @aantonop @saifedean @cburniske). Listen to podcasts (by @laurashin @APompliano @PeterMcCormack @stephanlivera). Engage on Twitter (w/ @AriDavidPaul @RaoulGMI @nic__carter)
12/ Be wary of what you read/hear too - I don't agree with everything the above people say or stand for (there is a lot to learn even from people you disagree with). Beware of short articles by journalists (many have to get stories out but don't understand #BTC or #crypto)
or #crypto)
13/ Just question all you've been taught. I've realized many young people understand this stuff better than nobel laureates, world-renowned economists, profs and investors because they aren't stuck in the current paradigm. And paradigms shift. That's what's happening now.
