1/ The thing I find interesting about this interview with Lasry, a billionaire with 1% of his assets in #Bitcoin, is that:
- He bought his first BTC years ago
- The majority of his holdings are from recent purchases.
cnbc.com/video/2018/07/…
- He bought his first BTC years ago
- The majority of his holdings are from recent purchases.
cnbc.com/video/2018/07/…
2/ This is an example of what I've described as being "mentally captured"
3/ I know several instances of people who bought small amounts of BTC and as its price rose their confidence in its staying power increased commensurately. Eventually they were confident enough to allocate meaningful capital to it.
This is the Lindy effect in action
This is the Lindy effect in action
4/ In this past hype cycle there were perhaps millions of people who made small allocations to BTC. In the next cycle these people, in the process of being mentally captured, will be ready to increase their allocation, dramatically increasing the reservation demand for BTC.
5/ Some of these people, like Lasry, will be billionaires. You don't need many billionaires to be captured to see a dramatic effect on price.
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