Why Everyone Needs Crypto in Their Portfolio
I just turned 56 in January, and shockingly—especially to me!—I have groupies.
To be clear, I don’t mean Van Halen/Led Zeppelin-style groupies…the kind that send wedding proposals and naked pictures in the mail.
I mean I have really engaged followers, tens of thousands of them, ranging in age from teenagers to the over-60s.
All because I’m writing truthfully about something the mainstream consistently mischaracterizes or downright lies about.
I’m talking about crypto.
When you’re writing intelligently about the cryptosphere, people wanna read what you’re thinking and doing because it’s a confusing space, yet one that marks the bleeding edge of where we’re headed economically, monetarily, and societally.
I always thought that as I aged, I would grow curmudgeonly…increasingly conservative and set in my ways. I kind of expected to fall out of touch with the latest trends in investing and business and well, pretty much everything else.
But much to my own surprise, what I’m thinking and doing these days is so far away from “increasingly conservative and set in my ways.”
I’ve been selling stocks and moving ever deeper into crypto.
It’s not the path most of my age cohort is pursuing. It’s not the path 99% of financial advisers are advising for their clients. They’re largely sticking to what they grew up with: stocks, bonds, real estate, certificates of deposit.
I understand why…certainly not belittling that. There’s some kind of safety in what you know, and (theoretically, at least) lots of risk in what you don’t know or understand.
Yet, I stopped to really consider this status quo back in 2017, when my son asked me to build a crypto-mining rig with him.
I’d shunned crypto for years. But he convinced me to dive in…and I dove deep. Researching, reading, investing, understanding, and thinking about the implications of crypto technology on the future of, well, everything,
And I determined that this is where I want to stake a big chunk of my retirement.
To be clear I still own a multi six-figure retirement account mainly built around the Swiss franc, gold, and a highly specific segments of the stock market that will survive no matter what (mainly healthcare and pharma).
But all the money I am putting to work today is going into crypto.
I’ve sold stock in a non-retirement account and funneled that money into crypto. I used a bonus I earned this year to invest in crypto.
And, yes, there is a lot of maniacal volatility involved with this strategy. I don’t dismiss that and I never try to sugar-coat that reality.
Then again, I look around the world and I see that the old ways of thinking—the old ways of building an investment portfolio—don’t work anymore.
They aren’t going to generate the kind of wealth that crypto is already generating, and which it will continue to generate over the remainder of this decade and into the 2030s as crypto technology invades every segment of business and society.
I didn’t want to miss that…because, frankly, I missed most of the internet boom. Why? Because I was too damn conservative in my 30s!
Too many of the companies I was writing about and reading about at The Wall Street Journal during that era were clearly not gonna make it.
Webvan grocery delivery made no sense in how it was set up. Pets.com was nothing more than a sock-puppet mascot with a business model doomed to failure. Reading about them made me gun shy. And well, I just didn’t know if the Amazons and Yahoos of the world were gonna make it either (though I did grab shares of Google that I still own today).
Here in the age of crypto, I am deep diving into projects to research them. And I am often buying into the ones that make sense. I fully expect some are headed to Goblin Town and will be worth little to nothing.
But the winners…
They’re generating gains in days, weeks, or months that stock market investors rarely see across a lifetime of investing. Meaning, the winners are going to win at such an extreme level of profit that the losers are going to be pointless speedbumps I never remember.
And so it is, then, that I am neither curmudgeonly nor conservative as I age.
I am wide open to the possibilities because after all the research I’ve done over the last five years, I know I’m on a path littered with potentially life-changing profits everywhere I look.