How To Succeed In Blockchain Investing Beyond The Cryptocurrency Roller Coaster
In 1849, a young Bavarian immigrant headed to California’s gold fields to make his fortune. But Levi Strauss wasn’t interested in the back-breaking work of panning for gold in a mountain stream. Instead, he set up shop in San Francisco, selling ‘49ers the pans, picks, and pants they needed to succeed.
Now we’re in a far bigger, far more complicated gold rush, this time around cryptocurrencies and other blockchain-based technologies.
Once again, you can do the “mining” yourself, as some do, playing the averages with banks of expensive computers and access to cheap power. Or you can buy already mined Bitcoin and Ethereum, then do the HODL, a misspelled motto of partisans committed to holding on through crypto’s many gut-wrenching ups and downs.
Rather than just HODL, though, smart long-term investors should instead consider the Strauss method: Investing thoughtfully in the companies whose technologies will bring blockchain to the masses, while giving the miners, investors, analysts, and even regulators the tools they need.
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