Rethinking Wealth: Savings Alone Won't Make Anyone Rich

The latest and greatest regarding the Binance saga and the clearly coordinated attack against the Chinese-originated CEX is now tied to Cristiano Ronaldo's name. The famous football player is being sued for promoting unregistered securities... Man, I thought the bear market was over, and we were supposed to have all sorts of bullish news every now and then.

Bitcoin is not at all affected by the news; on the contrary, it is holding steady at its newest conquered level, the $48K dollar valuation it has not been at for over a year, and to me, the trend is clearly still up. I almost pity the ones waiting for $12k, but I don't pity the fool. This is not a bear market rally, in case you're not clear about that yet...

Binance was shaking for a while already, and it was clear that the establishment was not going to allow it to be the no.1 exchange by trading volume in the world while they set the stage for launching Bitcoin spot ETFs in America. Binance and CZ have had their time; now it's the BlackRocks and other similar ones to take over the scene.

Crypto, the way I see it, was not designed to serve in the form of ETFs, futures contracts, and so on and so forth. I am a true believer in crypto's pedigree of disrupting the current system and helping us change the world. The world is so messed up right now, and the powers in charge are desperate to mess it up even more so that they can further justify their thirst for control and "excessive ownership."

Crypto made me an investor, though... And I kind of think of Charlie Munger while saying that because the guy just died recently at 99 years old, and he's known alongside Warren Buffet to be one of the best investors out there. He clearly did not understand Bitcoin, but neither did I understand the quote "money makes you more money" when I was told by a way younger individual a good while back.

I was born and raised with the mentality that, in order to overcome your current condition, you have to work more, or harder, and that only mobsters and "dirty businessmen" get rich by not putting in the work I was taught I should. I have no doubt Charlie put in the work; he probably spent more time working than I and my father combined did, but his work was totally different from others.

He seems to have been a contrarian, and contrarians usually position themselves on the good side of history. Well, as mentioned above, he missed on Bitcoin, but no one is perfect, right...

A few months ago, when I was talking on the phone with my dad, I told him: "savings didn't make anyone rich"... A couple of days later, he called me and sent me $2,000 so I could invest for him in crypto. I became a crypto investments trust overnight 😀.

I can't say anything for sure, but I believe the most suitable times to be accumulating crypto are coming to an end. BTC still has some steam for its latest rally, and I wouldn't be surprised to see it touch $48K by the end of the year, but alts are just getting started, and once shitcoins take off, the euphoria (FOMO) phase will commence.

That's when I'll be looking to start my DCA out of the market and move my investments into stables. HBD will take something like 30% of every chunk I cash in because I find it to be a viable option for the upcoming bear market. The trend for CEXs and centralized projects is pretty clear to me, and while holding HBD at the moment is not the best idea imo, at some point, it will be a great idea...

I know HBD savings won't make me rich, but at least it will make the upcoming bear market more bearable than the past one. I have accumulated a lot of pain and frustrations during the past bear market, so I will be more cautious in the future. Anyway, that's about it from my side. I wish you all a great day and see you next time.

Thanks for your attention,
Adrian