As much as I don't like Peter Thiel, his fund's timing was excellent. By last March they sold everything crypto. You see, this is how you do it, you evaluate and when you realize your investment is overvalued, you sell, even if you think long term it is still a good bet. If you are right, you can always buy it back much lower. https://worldnewsera.com/news/finan...-down-8-year-bitcoin-bet-before-market-crash/ "Founders Fund, the venture capital firm co-founded by billionaire Peter Thiel, closed almost all of its eight-year bet on cryptocurrencies shortly before the market began to crash last year, generating about $1.8bn in returns. The San Francisco-based fund made its first investment in bitcoin in early 2014 and went on to invest large sums in crypto. About two-thirds of its overall investment was used to buy bitcoin, said people close to the fund. Founders Fund sold out of the vast majority of its entire cryptocurrency portfolio by the end of March 2022 — before the digital assets market became swept up in a crisis in May last year, said one of the people close to the fund."
While all ET crypto fans dream of getting rich, the really rich take the money, and the ET crypto fans stay with the dream. While Thiel was cashing in, johnarb gave thumbs up to all ET crypto fans that were buying. I was closer to the top, and 5 months before Thiel. But I seem to be the idiot on ET. The price when I posted was 50% higher than the price when Thiel got out. 77K moved from Baron's pockets in Thiel's pockets.
He sold it in Mar 2022? I should say the timing was excellent. And for some other investors, they have FAITH. So they ....
Maybe they read my BTC prediction after the SB, or simply just saw the writing on the wall and they KNEW history. It was really a no brainer... Nevertheless later he said: "In April 2022, about the same time that Founders Fund sold out of most of its cryptocurrency holdings, Thiel said he was optimistic about the future of bitcoin. He told a cryptocurrency conference in Miami that “we’re at the end of the fiat money regime” and suggested its price — which was then trading at about $44,000 — could increase by a factor of 100." I wouldn't be surprised if he is now buying it again after the 70% drop. Good for him.
Keep the stupid stupid, and the poor poor. Mark Cuban: We are as close to zero risk as we can get. LOL. He can come to Court soon to explain what he said. These people manipulate the herd. And the herd does not understand that. Was HODL not a writing mistake? It looks like it should be HOLDUP.
There are 1000's of similar stories like the above across multiple investment vehicles, from real estate to stocks to crypto. So what's your point? That they got lucky or are super savvy?
The point is that you don't marry an asset, you TRADE it. The dude is obviously a crypto fan yet he cashed out when they saw the writing on the wall. So I guess savvy? And no, there aren't 1000s of like him, there are very few stories when a crypto believer actually cashes out close to the top, while he still believes in the cause.
1000's who make 1.8 BN $??? If it happens so often, you should be one of them. It was predictable that some savy people cashed instead of HODL.