He also had the ability to invest all those dollar proceeds net taxes into other investments for the past 8-10 months or however long it’s been since he sold.
Your point is still made. It is not a...
It’s a great point. The optionality that cash provides is worth something. I think most bitcoiners would preserve cash or a LOC to buy back in, and the timing of that decision is the really tricky part here. And given Luke’s views on equities and other asset classes, I would bet that cash mostly sat there or went into gold (which hasn’t done much since then either).
I also think people like Luke wouldn’t roll it all back in here at $72. He’d buy back in over time, and if price keeps going up you’re likely increasing your overall price in or reducing your total bitcoin, depending on approach.
I also think people like Luke wouldn’t roll it all back in here at $72. He’d buy back in over time, and if price keeps going up you’re likely increasing your overall price in or reducing your total bitcoin, depending on approach.
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