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> People saw the meteoric rise of Bitcoin and got a serious case of FOMO. Something about the chance of life changing returns in intoxicating. Personally I'd b
by waylandsmithers 4y ago
> People saw the meteoric rise of Bitcoin and got a serious case of FOMO.
Something about the chance of life changing returns in intoxicating. Personally I'd be thrilled with a 20% annual return in "normal" investments, but somehow crypto doubling or even tripling in a year is boring because we're all after the 100x+ return. Maybe it's because psychologically it just feels like more of a lottery ticket.
I have a relative in wealth management and went through a period where clients asked about bitcoin frequently. He told me his rule of thumb is: "If you've heard of it, it's probably already too late."