For some, it is the future of the financial system. For others, it is a way of generating wealth. Bitcoin’s recent rise makes “fortunes”, but regulators warn of the risk that it could also lose everything.

“In the world of cryptocurrencies, everything happens very fast. But when you come in, it’s like a little animal that bites.” – Says an bitcoin investor.

Between communities on Reddit and Facebook groups, it’s easy to find out who had the first contact with the currency long before the market being what it is today. However, the little knowledge available at the time, as well as the difficulty in acquiring virtual assets, were authentic blocking factors.

Each bitcoin unit reached earlier this year, a value of 40,000 US dollars.

Prices that, a few months ago, would have been considered absurd by many. But not for those who have kept assets of this type over all these years, having seen, with the new rises, the portfolio multiply by four or five. For these, the rise of bitcoin and other cryptocurrencies, seen over the past few weeks, was long awaited. Inevitable, even.

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Hold on for dear life

Despite the risks of losing all of the capital, always remembered by the regulators – and the stories of financial debacle of those who bought expensive and sold cheap around the peak of 2017 -, there were those who remained firm throughout this time, opting for two other maxims: keep and accumulate.

In the community, these types of investors are called hodlers. The term derives from the acronym HODL (hold on for dear life). They are investors who do not want to sell, some because they are looking for increasing valuations, others because they believe that cryptocurrencies will assume a central role in the global payment system, eventually in their own name.

Original Source in Portuguese: Eco


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