December 9, 2024 • 14 mins
Chris's unique views and strategies regarding investing in crypto1
Mark as Played
Transcript
Episode Transcript
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(00:00):
Welcome back everyone.
(00:00):
Today, we're going deep on this guy, Chris.
Yes.
This crypto billionaire.
Yeah.
Yeah, self-made billionaire.
Pretty impressive.
Yeah, I mean, he went from driving a taxi
to living it up in Dubai in like five years.
It's crazy, just five years.
So we're gonna try to figure out how he did it,
what his strategy is,
and what we can learn from all this, you know?
(00:23):
For sure.
I think there's a lot to unpack here.
We've got some good stuff to dig into.
There's this YouTube video tour of his,
like crazy lifestyle, million dollar cars, you know?
Yeah.
Digital art instead of TVs, the whole nine yards.
Oh wow.
And then we've got this interview
where he actually talks about some of his crypto strategies.
Okay, so first off,
I think we gotta just like emphasize
(00:44):
how wild this transformation is.
It really is.
I mean, just five years ago.
This guy's driving a taxi.
Yeah.
And today he's living in this like
luxury duplex apartment in Dubai.
Yeah, and that's not all.
He's got this collection of like crazy expensive cars.
Oh yeah.
Like a one of a kind Mansory G-Wagon pickup truck.
What?
(01:05):
Worth over four million dollars.
Wow.
And then there's his NFT collection.
Okay.
Estimated at 15 to 20 million dollars.
That's insane.
Yeah, so you know,
when you see that kind of jump in wealth
in such a short time,
you gotta wonder what's going on there.
Right, right.
There's gotta be something interesting
going on with his investments.
(01:25):
Yeah, for sure.
And one of the things that really stood out to me
in the interview was this never sell philosophy.
Oh yeah, he's big on that.
He says he's never sold a single NFT.
Wow.
Only bought them.
That's a bold strategy.
It is.
You know, you gotta think about it.
To actually make money from an investment,
you gotta sell it at some point.
Right, to realize the profit.
Exactly.
(01:46):
So this never sell thing,
it's got some downsides, you know?
Like what?
Well, for one, it can mean you're not very liquid.
Like if you need cash fast,
you might be stuck
because you haven't actually sold anything.
And then there's always the risk
of the market crashing, right?
If your assets plummet in value
and you haven't sold any,
(02:07):
you're sitting on some big losses
that are hard to recover from.
Yeah, that makes sense.
Yeah.
But it seems like Chris is really in it for the long haul.
He is.
Like he's betting on the future value of these assets.
Oh, absolutely.
He's definitely playing the long game.
Yeah.
And that actually brings us
to another big part of his approach.
His belief in Bitcoin.
Okay.
He thinks Bitcoin could go up
(02:28):
like a hundred times its current value.
Wow, a hundred X.
Yeah, making any dips along the way.
Basically meaningless compared to the potential gains.
That's some serious conviction.
It is.
But you know, that belief is based
on a couple of big ideas.
First, Bitcoin supply is limited.
There's only gonna be so much of it ever.
Right.
And second, more and more people
(02:48):
and institutions are using Bitcoin.
So Chris figures those two things together
and mean the price is gonna go way up over time.
So he's basically betting on Bitcoin
becoming even more scarce and popular.
Exactly.
But it's super important to remember
that Bitcoin is notoriously volatile, right?
Right.
It's gone up a lot, but it's also crashed hard in the past.
Yeah, it could be a wild ride.
(03:08):
Totally.
Yeah.
So, you know, this hundred X prediction,
it's just that a prediction.
Right, right.
It's speculation.
You gotta be careful and do your research.
Absolutely.
And I think it's good to remind everyone
that everyone's situation is different.
For sure.
What might work for Chris might not be right for you.
Exactly.
You gotta think about your own goals,
how much risk you're comfortable with,
(03:29):
all that stuff before you make any investment decisions.
100%.
And diversification is key too.
Meaning what?
Not putting all your eggs in one basket,
even if that basket is Bitcoin.
Makes sense.
A good portfolio should have a mix of different assets
to help manage the risk.
Okay, so we've talked about Bitcoin.
Now Chris is also really into NFTs.
(03:51):
Oh yeah, especially this collection called Clone X.
Clone X.
Yeah, and the cheapest one you can get
costs around $80,000.
80,000 for one NFT.
That's right.
And Chris has a bunch of them.
So that tells you how much he believes in NFTs.
He even calls them the best investments
you could make in this space.
Interesting.
And it's not like he's just hoarding them either.
(04:12):
Right.
In that video tour, he's showing them off
his digital art in his place.
Exactly.
And while he's watching TV, he's got his NFTs on display.
That's pretty cool.
Kind of adds another layer to this whole never sell thing.
Yeah, it's not just about the money for him.
Right, it's like part of his lifestyle.
Totally.
But you know, we've got to remember the NFT market
is still pretty young.
Right.
And it's very speculative.
(04:33):
Just because some collections like Clone X
have gone up a lot doesn't mean they'll keep going up.
So what should you be looking at
before you jump into NFTs?
Research is key, just like with any investment.
Okay.
You gotta look beyond the hype.
Look at the team behind the project,
what the NFT is actually used for,
and how active the community around it is.
Makes sense.
(04:54):
So we've talked about this never sell philosophy,
the big Bitcoin bet and this love of NFTs,
but there's this other thing Chris hints at in the video.
Some advice that goes beyond just holding onto Bitcoin.
He says holding is only part of the equation.
There's more to it.
He doesn't say exactly what he means,
but he tells people to check out
his YouTube channel for more.
(05:15):
That's like a little cliffhanger.
It is.
It's a good way to get people curious.
Definitely.
So we've covered a lot about Chris's thinking on investing.
We have.
He's clearly not afraid to take risks.
He's all in on certain things like Bitcoin and NFTs.
Yeah.
And he seems to have this knack for spotting opportunities
that others miss.
He does, but there's another big question here.
(05:36):
What are the risks of this approach?
Right, what could go wrong?
Exactly, because there's always a flip side,
and that's something we need to dig into.
OK, let's do that in the next part of our deep dive then.
Sounds good.
Yeah, so when we talk about risks
with Chris's way of doing things,
I think the never sell thing is a good place to start.
OK, so holding onto stuff forever without ever selling.
(05:58):
Right.
What could go wrong there?
Yeah, what are some of the downsides?
Well, one big one is missing out on good opportunities.
The crypto market, it's all over the place.
Right, it's super volatile.
Exactly.
So if you're never selling, you could miss out
on times when the price is high and you could
have made a nice profit.
So even if Chris is right about Bitcoin going way up,
(06:20):
he could still miss out on some big gains
by not taking profits along the way.
Exactly.
It's like being on a roller coaster and never getting off.
OK.
You might enjoy the ride up, but then you
got to ride it all the way down too
without cashing in at the top.
Makes sense.
You got to be strategic about it.
Totally.
And that actually leads to another risk with never selling.
It can make you too attached to your investments.
(06:42):
Emotionally attached.
Yeah, and that can make you make bad decisions.
Like how?
If the market tanks, you know, crashes,
you might be too stubborn to sell even when
it's the smart thing to do just because you told yourself
you'd never sell.
So you're basically stuck with a sinking ship.
Kind of.
Sometimes cutting your losses and moving on
is the best play, even if it hurts a little.
(07:02):
OK, that makes sense.
What else?
Are there any other downsides to think about?
Yeah, there's also the issue of liquidity.
Liquidity.
Basically how easy it is to turn your assets into cash.
If you're holding onto stuff that's hard to trade,
it can be tough to get your money out if you need it fast.
You give an example.
Sure.
Imagine you have some kind of emergency,
(07:25):
like a medical bill or something,
and you need a lot of money quickly.
If all your money is tied up in assets that are hard to sell,
you're in trouble.
So even if those assets are valuable on paper,
they're not going to help you in a pinch
if you can't actually sell them.
Exactly.
Liquidity is really important to think about,
especially if you might need cash in a hurry.
And we've talked a lot about Chris never selling.
(07:46):
Yeah.
But are there ever times when selling actually
makes more sense?
Definitely.
There are a few situations where selling can be a good move.
If you've hit your investment goals
and you want to lock in those profits,
selling some of your stuff can be smart.
So if you've made a good return, it's
OK to take some money off the table.
(08:07):
Exactly.
Another time selling might be good
is if you need to rebalance your portfolio.
Rebalance.
What does that mean?
It means adjusting how much you have
in different types of assets to keep your risk
level where you want it.
For example, if your crypto has gone up a ton
and it's now a huge part of your portfolio,
(08:30):
you might want to sell some and put that money
into something else.
To spread things out a bit.
Exactly.
Diversify your holdings and manage that risk.
So even if you're bullish on crypto,
you shouldn't put all your eggs in one basket.
Definitely.
Diversification is key for protecting your investments.
This is all really good stuff to keep in mind.
It is.
Especially for anyone who's new to crypto.
(08:51):
For sure.
It's easy to get swept up in all the excitement and stories
about people getting rich quick.
It is.
But you've got to be realistic about the risks too.
Absolutely.
They're going back to Chris's story.
I'm really curious about that secret advice he teased.
Yeah, the thing beyond just holding Bitcoin.
What do you think he might be talking about?
Hard to say for sure, but knowing how he thinks,
(09:13):
I guess it has something to do with actively
managing your portfolio.
OK, so not just setting it and forgetting it.
Right.
Maybe something like dollar cost averaging.
Dollar cost averaging.
Yeah.
It's a way of investing where you put in a fixed amount
of money at regular intervals, no matter
what the price is doing.
And what's the point of that?
It helps take the emotion out of investing.
By investing consistently, you're
(09:34):
averaging out your purchase price.
So you're buying more when the price is low.
Right.
And less when it's high.
Exactly.
It's a good strategy for volatile markets like crypto.
Makes sense.
Helps you avoid trying to time the market perfectly.
Which is really hard to do.
Right.
So it's about managing risk and trying
to get better returns over time.
Exactly.
(09:56):
And Chris might also be talking about rebalancing,
which we mentioned before.
Right.
Adjusting how much you have in different assets.
Yep.
So even though he's all about holding,
he might still be doing some tweaking
to keep his risk level in check and jump on new opportunities.
So it's not just about holding blindly.
No, it's about being proactive, watching the market,
and making changes when you need to.
(10:18):
This is all making me think there's
more to Chris's strategy than just never sell.
I think you're right.
There's probably a lot more going on behind the scenes.
And that's what makes this whole thing so interesting.
We're not just looking at his fancy stuff.
Right.
We're trying to figure out how his brain works.
Exactly, and what we can learn from it.
OK.
Well, let's keep digging then.
What else do we have to look at to understand
(10:39):
Chris a little bit better?
OK, so we've talked a lot about Chris, his never sell thing,
his big bet on Bitcoin.
Right.
But it seems like there's more to his strategy
than just those two things.
Yeah, definitely.
I think his story is more than just showing off his money.
Right.
There are some really interesting lessons
we can take away from how he invests.
OK, so what else can we learn from Chris's journey?
(11:00):
Something that really stands out is
the importance of conviction.
Conviction.
Yeah, really believing in your investments.
OK.
Chris clearly believes in Bitcoin and NFTs
for the long haul.
Right.
And that belief helps him hold onto them
even when things get crazy.
When the market's volatile.
Exactly.
It's easy to panic and sell when prices are going up and down
(11:21):
like crazy.
Right.
But if you truly believe in what you're holding,
you're more likely to ride out those storms.
Yeah, that makes sense.
And that kind of ties into another big lesson from Chris.
Thinking long term.
Absolutely.
He's not trying to get rich quick.
Right.
He's playing the long game, betting on the future
of these technologies.
(11:42):
So instead of stressing about the price every day,
you're saying it's important to look at the bigger picture.
Exactly.
Think about the potential for growth over time.
The crypto market's still young.
You know?
It is.
There's going to be bumps along the way.
But if you believe in the tech, those ups and downs
matter less.
This is such a good point for new investors.
Yeah.
It's so easy to get caught up in the hype.
(12:03):
It is.
That fear of missing out.
Yeah.
But Chris's story shows that patience is key.
Absolutely.
And you know another thing about Chris's approach,
he's not afraid of risk.
Yeah.
He definitely puts his money where his mouth is.
He does.
He invests a lot in things he believes in.
And that's not for everyone.
Of course not.
(12:24):
But it does show the kind of rewards
you can get if you take calculated risks.
So you're saying, well, we've got to be aware of the risks.
We shouldn't be scared to take a chance
if we want to make some real games.
Exactly.
It's about finding that balance between being
careful and being bold.
Right.
And that balance is going to be different for everyone,
depending on your situation.
(12:45):
Now, Chris is all about holding.
But he did mention some other stuff,
some more nuanced strategies.
Yeah, something beyond just holding Bitcoin.
What do you think he might be talking about?
Well, based on what we talked about earlier,
I'm thinking maybe dollar cost averaging and portfolio
rebalancing.
OK.
Remind me how those work again.
So dollar cost averaging is, like I said,
(13:05):
it's investing a set amount regularly, no matter the price.
And rebalancing is making sure your investments still
match your risk level and your goals.
So even though Chris is big on holding,
he might be making some tweaks behind the scenes
to maximize his returns and manage his risk.
Exactly.
He's probably more proactive than it seems at first glance.
(13:26):
This is all making me realize there's a lot more
to Chris's strategy than we initially thought.
Yeah, there's a lot of depth there.
And that's what makes his story so interesting.
It's not just about the never sell thing.
Right.
There's more to it.
It's about understanding the market, being strategic,
and making smart choices.
It's a good reminder that there's no one right way
(13:46):
to invest in crypto.
Totally.
What works for one person might not work for another.
It's all about finding what works for you.
OK, so I think we've covered a lot today.
We started with this guy's crazy lifestyle.
And now we're talking about all these different investment
strategies.
And how to manage risk.
It's been a good dive dive.
Chris's story is definitely inspiring.
(14:08):
It is.
It shows what's possible in the crypto world.
Right.
But it's also a reminder that there are risks involved.
Definitely.
So as we wrap up, what's the most important thing
you want our listeners to take away?
I'd say approach crypto with a balanced view.
See the potential, but also understand the risks.
Do your research.
(14:29):
Make informed decisions that align with your goals.
Perfect.
And for those who are feeling a little overwhelmed
after all this, don't worry.
You don't have to figure it all out on your own.
Exactly.
There's tons of information out there
to help you learn and navigate the crypto world safely.
So keep learning, keep exploring, and remember,
the best investment you can make is in your own knowledge.
(14:52):
On that note, that's a wrap for another deep dive.
Thanks for joining us.
Welcome back everyone.
(00:00):
Today, we're going deep on this guy, Chris.
Yes.
This crypto billionaire.
Yeah.
Yeah, self-made billionaire.
Pretty impressive.
Yeah, I mean, he went from driving a taxi
to living it up in Dubai in like five years.
It's crazy, just five years.
So we're gonna try to figure out how he did it,
what his strategy is,
and what we can learn from all this, you know?
(00:23):
For sure.
I think there's a lot to unpack here.
We've got some good stuff to dig into.
There's this YouTube video tour of his,
like crazy lifestyle, million dollar cars, you know?
Yeah.
Digital art instead of TVs, the whole nine yards.
Oh wow.
And then we've got this interview
where he actually talks about some of his crypto strategies.
Okay, so first off,
I think we gotta just like emphasize
(00:44):
how wild this transformation is.
It really is.
I mean, just five years ago.
This guy's driving a taxi.
Yeah.
And today he's living in this like
luxury duplex apartment in Dubai.
Yeah, and that's not all.
He's got this collection of like crazy expensive cars.
Oh yeah.
Like a one of a kind Mansory G-Wagon pickup truck.
What?
(01:05):
Worth over four million dollars.
Wow.
And then there's his NFT collection.
Okay.
Estimated at 15 to 20 million dollars.
That's insane.
Yeah, so you know,
when you see that kind of jump in wealth
in such a short time,
you gotta wonder what's going on there.
Right, right.
There's gotta be something interesting
going on with his investments.
(01:25):
Yeah, for sure.
And one of the things that really stood out to me
in the interview was this never sell philosophy.
Oh yeah, he's big on that.
He says he's never sold a single NFT.
Wow.
Only bought them.
That's a bold strategy.
It is.
You know, you gotta think about it.
To actually make money from an investment,
you gotta sell it at some point.
Right, to realize the profit.
Exactly.
(01:46):
So this never sell thing,
it's got some downsides, you know?
Like what?
Well, for one, it can mean you're not very liquid.
Like if you need cash fast,
you might be stuck
because you haven't actually sold anything.
And then there's always the risk
of the market crashing, right?
If your assets plummet in value
and you haven't sold any,
(02:07):
you're sitting on some big losses
that are hard to recover from.
Yeah, that makes sense.
Yeah.
But it seems like Chris is really in it for the long haul.
He is.
Like he's betting on the future value of these assets.
Oh, absolutely.
He's definitely playing the long game.
Yeah.
And that actually brings us
to another big part of his approach.
His belief in Bitcoin.
Okay.
He thinks Bitcoin could go up
(02:28):
like a hundred times its current value.
Wow, a hundred X.
Yeah, making any dips along the way.
Basically meaningless compared to the potential gains.
That's some serious conviction.
It is.
But you know, that belief is based
on a couple of big ideas.
First, Bitcoin supply is limited.
There's only gonna be so much of it ever.
Right.
And second, more and more people
(02:48):
and institutions are using Bitcoin.
So Chris figures those two things together
and mean the price is gonna go way up over time.
So he's basically betting on Bitcoin
becoming even more scarce and popular.
Exactly.
But it's super important to remember
that Bitcoin is notoriously volatile, right?
Right.
It's gone up a lot, but it's also crashed hard in the past.
Yeah, it could be a wild ride.
(03:08):
Totally.
Yeah.
So, you know, this hundred X prediction,
it's just that a prediction.
Right, right.
It's speculation.
You gotta be careful and do your research.
Absolutely.
And I think it's good to remind everyone
that everyone's situation is different.
For sure.
What might work for Chris might not be right for you.
Exactly.
You gotta think about your own goals,
how much risk you're comfortable with,
(03:29):
all that stuff before you make any investment decisions.
100%.
And diversification is key too.
Meaning what?
Not putting all your eggs in one basket,
even if that basket is Bitcoin.
Makes sense.
A good portfolio should have a mix of different assets
to help manage the risk.
Okay, so we've talked about Bitcoin.
Now Chris is also really into NFTs.
(03:51):
Oh yeah, especially this collection called Clone X.
Clone X.
Yeah, and the cheapest one you can get
costs around $80,000.
80,000 for one NFT.
That's right.
And Chris has a bunch of them.
So that tells you how much he believes in NFTs.
He even calls them the best investments
you could make in this space.
Interesting.
And it's not like he's just hoarding them either.
(04:12):
Right.
In that video tour, he's showing them off
his digital art in his place.
Exactly.
And while he's watching TV, he's got his NFTs on display.
That's pretty cool.
Kind of adds another layer to this whole never sell thing.
Yeah, it's not just about the money for him.
Right, it's like part of his lifestyle.
Totally.
But you know, we've got to remember the NFT market
is still pretty young.
Right.
And it's very speculative.
(04:33):
Just because some collections like Clone X
have gone up a lot doesn't mean they'll keep going up.
So what should you be looking at
before you jump into NFTs?
Research is key, just like with any investment.
Okay.
You gotta look beyond the hype.
Look at the team behind the project,
what the NFT is actually used for,
and how active the community around it is.
Makes sense.
(04:54):
So we've talked about this never sell philosophy,
the big Bitcoin bet and this love of NFTs,
but there's this other thing Chris hints at in the video.
Some advice that goes beyond just holding onto Bitcoin.
He says holding is only part of the equation.
There's more to it.
He doesn't say exactly what he means,
but he tells people to check out
his YouTube channel for more.
(05:15):
That's like a little cliffhanger.
It is.
It's a good way to get people curious.
Definitely.
So we've covered a lot about Chris's thinking on investing.
We have.
He's clearly not afraid to take risks.
He's all in on certain things like Bitcoin and NFTs.
Yeah.
And he seems to have this knack for spotting opportunities
that others miss.
He does, but there's another big question here.
(05:36):
What are the risks of this approach?
Right, what could go wrong?
Exactly, because there's always a flip side,
and that's something we need to dig into.
OK, let's do that in the next part of our deep dive then.
Sounds good.
Yeah, so when we talk about risks
with Chris's way of doing things,
I think the never sell thing is a good place to start.
OK, so holding onto stuff forever without ever selling.
(05:58):
Right.
What could go wrong there?
Yeah, what are some of the downsides?
Well, one big one is missing out on good opportunities.
The crypto market, it's all over the place.
Right, it's super volatile.
Exactly.
So if you're never selling, you could miss out
on times when the price is high and you could
have made a nice profit.
So even if Chris is right about Bitcoin going way up,
(06:20):
he could still miss out on some big gains
by not taking profits along the way.
Exactly.
It's like being on a roller coaster and never getting off.
OK.
You might enjoy the ride up, but then you
got to ride it all the way down too
without cashing in at the top.
Makes sense.
You got to be strategic about it.
Totally.
And that actually leads to another risk with never selling.
It can make you too attached to your investments.
(06:42):
Emotionally attached.
Yeah, and that can make you make bad decisions.
Like how?
If the market tanks, you know, crashes,
you might be too stubborn to sell even when
it's the smart thing to do just because you told yourself
you'd never sell.
So you're basically stuck with a sinking ship.
Kind of.
Sometimes cutting your losses and moving on
is the best play, even if it hurts a little.
(07:02):
OK, that makes sense.
What else?
Are there any other downsides to think about?
Yeah, there's also the issue of liquidity.
Liquidity.
Basically how easy it is to turn your assets into cash.
If you're holding onto stuff that's hard to trade,
it can be tough to get your money out if you need it fast.
You give an example.
Sure.
Imagine you have some kind of emergency,
(07:25):
like a medical bill or something,
and you need a lot of money quickly.
If all your money is tied up in assets that are hard to sell,
you're in trouble.
So even if those assets are valuable on paper,
they're not going to help you in a pinch
if you can't actually sell them.
Exactly.
Liquidity is really important to think about,
especially if you might need cash in a hurry.
And we've talked a lot about Chris never selling.
(07:46):
Yeah.
But are there ever times when selling actually
makes more sense?
Definitely.
There are a few situations where selling can be a good move.
If you've hit your investment goals
and you want to lock in those profits,
selling some of your stuff can be smart.
So if you've made a good return, it's
OK to take some money off the table.
(08:07):
Exactly.
Another time selling might be good
is if you need to rebalance your portfolio.
Rebalance.
What does that mean?
It means adjusting how much you have
in different types of assets to keep your risk
level where you want it.
For example, if your crypto has gone up a ton
and it's now a huge part of your portfolio,
(08:30):
you might want to sell some and put that money
into something else.
To spread things out a bit.
Exactly.
Diversify your holdings and manage that risk.
So even if you're bullish on crypto,
you shouldn't put all your eggs in one basket.
Definitely.
Diversification is key for protecting your investments.
This is all really good stuff to keep in mind.
It is.
Especially for anyone who's new to crypto.
(08:51):
For sure.
It's easy to get swept up in all the excitement and stories
about people getting rich quick.
It is.
But you've got to be realistic about the risks too.
Absolutely.
They're going back to Chris's story.
I'm really curious about that secret advice he teased.
Yeah, the thing beyond just holding Bitcoin.
What do you think he might be talking about?
Hard to say for sure, but knowing how he thinks,
(09:13):
I guess it has something to do with actively
managing your portfolio.
OK, so not just setting it and forgetting it.
Right.
Maybe something like dollar cost averaging.
Dollar cost averaging.
Yeah.
It's a way of investing where you put in a fixed amount
of money at regular intervals, no matter
what the price is doing.
And what's the point of that?
It helps take the emotion out of investing.
By investing consistently, you're
(09:34):
averaging out your purchase price.
So you're buying more when the price is low.
Right.
And less when it's high.
Exactly.
It's a good strategy for volatile markets like crypto.
Makes sense.
Helps you avoid trying to time the market perfectly.
Which is really hard to do.
Right.
So it's about managing risk and trying
to get better returns over time.
Exactly.
(09:56):
And Chris might also be talking about rebalancing,
which we mentioned before.
Right.
Adjusting how much you have in different assets.
Yep.
So even though he's all about holding,
he might still be doing some tweaking
to keep his risk level in check and jump on new opportunities.
So it's not just about holding blindly.
No, it's about being proactive, watching the market,
and making changes when you need to.
(10:18):
This is all making me think there's
more to Chris's strategy than just never sell.
I think you're right.
There's probably a lot more going on behind the scenes.
And that's what makes this whole thing so interesting.
We're not just looking at his fancy stuff.
Right.
We're trying to figure out how his brain works.
Exactly, and what we can learn from it.
OK.
Well, let's keep digging then.
What else do we have to look at to understand
(10:39):
Chris a little bit better?
OK, so we've talked a lot about Chris, his never sell thing,
his big bet on Bitcoin.
Right.
But it seems like there's more to his strategy
than just those two things.
Yeah, definitely.
I think his story is more than just showing off his money.
Right.
There are some really interesting lessons
we can take away from how he invests.
OK, so what else can we learn from Chris's journey?
(11:00):
Something that really stands out is
the importance of conviction.
Conviction.
Yeah, really believing in your investments.
OK.
Chris clearly believes in Bitcoin and NFTs
for the long haul.
Right.
And that belief helps him hold onto them
even when things get crazy.
When the market's volatile.
Exactly.
It's easy to panic and sell when prices are going up and down
(11:21):
like crazy.
Right.
But if you truly believe in what you're holding,
you're more likely to ride out those storms.
Yeah, that makes sense.
And that kind of ties into another big lesson from Chris.
Thinking long term.
Absolutely.
He's not trying to get rich quick.
Right.
He's playing the long game, betting on the future
of these technologies.
(11:42):
So instead of stressing about the price every day,
you're saying it's important to look at the bigger picture.
Exactly.
Think about the potential for growth over time.
The crypto market's still young.
You know?
It is.
There's going to be bumps along the way.
But if you believe in the tech, those ups and downs
matter less.
This is such a good point for new investors.
Yeah.
It's so easy to get caught up in the hype.
(12:03):
It is.
That fear of missing out.
Yeah.
But Chris's story shows that patience is key.
Absolutely.
And you know another thing about Chris's approach,
he's not afraid of risk.
Yeah.
He definitely puts his money where his mouth is.
He does.
He invests a lot in things he believes in.
And that's not for everyone.
Of course not.
(12:24):
But it does show the kind of rewards
you can get if you take calculated risks.
So you're saying, well, we've got to be aware of the risks.
We shouldn't be scared to take a chance
if we want to make some real games.
Exactly.
It's about finding that balance between being
careful and being bold.
Right.
And that balance is going to be different for everyone,
depending on your situation.
(12:45):
Now, Chris is all about holding.
But he did mention some other stuff,
some more nuanced strategies.
Yeah, something beyond just holding Bitcoin.
What do you think he might be talking about?
Well, based on what we talked about earlier,
I'm thinking maybe dollar cost averaging and portfolio
rebalancing.
OK.
Remind me how those work again.
So dollar cost averaging is, like I said,
(13:05):
it's investing a set amount regularly, no matter the price.
And rebalancing is making sure your investments still
match your risk level and your goals.
So even though Chris is big on holding,
he might be making some tweaks behind the scenes
to maximize his returns and manage his risk.
Exactly.
He's probably more proactive than it seems at first glance.
(13:26):
This is all making me realize there's a lot more
to Chris's strategy than we initially thought.
Yeah, there's a lot of depth there.
And that's what makes his story so interesting.
It's not just about the never sell thing.
Right.
There's more to it.
It's about understanding the market, being strategic,
and making smart choices.
It's a good reminder that there's no one right way
(13:46):
to invest in crypto.
Totally.
What works for one person might not work for another.
It's all about finding what works for you.
OK, so I think we've covered a lot today.
We started with this guy's crazy lifestyle.
And now we're talking about all these different investment
strategies.
And how to manage risk.
It's been a good dive dive.
Chris's story is definitely inspiring.
(14:08):
It is.
It shows what's possible in the crypto world.
Right.
But it's also a reminder that there are risks involved.
Definitely.
So as we wrap up, what's the most important thing
you want our listeners to take away?
I'd say approach crypto with a balanced view.
See the potential, but also understand the risks.
Do your research.
(14:29):
Make informed decisions that align with your goals.
Perfect.
And for those who are feeling a little overwhelmed
after all this, don't worry.
You don't have to figure it all out on your own.
Exactly.
There's tons of information out there
to help you learn and navigate the crypto world safely.
So keep learning, keep exploring, and remember,
the best investment you can make is in your own knowledge.
(14:52):
On that note, that's a wrap for another deep dive.
Thanks for joining us.
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