I’m not sure I agree that avoiding crypto has been an inherently losing strategy. If your plan is to gradually grow your fortune in a non-volatile environment then crypto seems like a bad place to put your funds. There are a lot of places you can sit your money and get a safe 5-10% return, which is great for a lot of people. Sometimes the options come with the advantage of actually making you a lot more if the projects truly succeed. We’ve done it with the construction/restoration and the sale of solar plants for a decade now.
You are also correct in that buying it after a major crash has historically been a very good business. It’s still something which has no value, however, and I’d consider that a somewhat risky (and a losing for many) strategy compared to putting your money into energy, medicine and water.
buying it after a major crash has historically been a very good business
Even buying it after a major peak (literally every single prior peak) and just holding throughout the crash has been very good business. Agreed that almost no one can stomach the volatility though if they truly hold Bitcoin as their main asset.
I've always held it with full knowledge that it's a speculative asset and holding it is in fact speculation and should not represent the majority of my portfolio. The issue I have is my speculative asset keeps multiplying and dwarfing my safe 5-10% investments and I have to maintain extreme discipline to keep rebalancing during peaks like this.
You are also correct in that buying it after a major crash has historically been a very good business. It’s still something which has no value, however, and I’d consider that a somewhat risky (and a losing for many) strategy compared to putting your money into energy, medicine and water.