We Study Billionaires - The Investor’s Podcast Network BTC028: Bitcoin Update w/ Plan B & Dr. Adam Back (Bitcoin Podcast)
Jun 2, 2021
Plan B, a leading voice in on-chain Bitcoin analytics, teams up with Dr. Adam Back, founder of Blockstream, in this enlightening discussion. They explore the impact of Bitcoin's volatility on the global economy and delve into recent market dynamics, including mining shifts from China and the role of derivatives. The duo contrasts Proof of Work with Proof of Stake and evaluates the investment behaviors of institutions. They also discuss the potential for Bitcoin's resilience and its implications for personal wealth management.
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Bitcoin's Volatility
- Bitcoin's volatility is expected and hasn't structurally changed.
- It's part of the market's growth and high returns.
Bitcoin Trading
- Avoid day trading Bitcoin due to its volatility; focus on holding.
- Buy more when the price drops if you can or dollar-cost average.
Bitcoin Holder Conviction
- Many Bitcoin holders have strong conviction and don't sell during price drops.
- A large percentage of coins are held by long-term, deep-in-the-money holders.