In 2016 we were 8 years into an equity bull market. Generally, Bear Markets happen every 7-8 years. As I was already working through Monish Pabrais Booklist. It was clear that the best value investors make their most significant decisions for their performance in bear markets.
- Monish Pabrai buying Indian Stocks in 2001 after Dot Com Crash
- Buffet buying Banking Stocks during GFC in 2008
- Buffet buying after the Great Depression of 1930s
So, naturally, I was researching strategies to bridge the time of a market top, or potentially play bear markets. Gold always came up as a crisis investment, however also underperforms in case of a liquidity crunch.
However, also at that time, the narrative of a digital form of Gold emerged. Bitcoin. The digital Gold. Early Youtube videos demonstrated Peer-to-Peer sending. But I didn’t yet understand why it was different from PayPal’s “send to Friends” functionality.
It took another few months and few coincidences for me to learn about Ethereum and that its decentralization offers the chance to move the native currency ETH directly through code.
This pushed me to take a closer look into Bitcoin again. In the rabbit hole, I went …
