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Yes, those are 14 great tweets that can provide some grounding, and assistance to folks who have already accumulated a decent stash of bitcoin, and also to consider that cashing out a decent amount of profits can be decent for protecting from the possible downside and even diversification of some profits can also be provide additional grounding.
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JJG, just out of pure curiosity, can you quantify the highlighted phrase?
I cannot really quantify - because "a decent stash of bitcoin" remains a very relative term based on someone's own financial situation.
For example, let's say that you had a very systematic plan in regards to your bitcoin, and within the past several years, you were able to invest in accordance with a systematic plan, that would be anywhere from 1% to 20% of the money that you have available for investments.
We all recognize that if you were largely "in" bitcoin before 2016, then you would have witnessed a decent 78x BTC price appreciation from about $250 to $19,666. Surely, if you did not sell very many of your coins, then your proportion of BTC as compared with other assets in the value of your funds is going to have become disproportionate in size, much beyond the percentage that you originally chose to invest. So even a relatively small number of coins might have caused some disproportion in your risk allocation that would have become more skewed towards bitcoin - for some folks small might be 1-10 btc, and others 10-40 btc, yet relatively speaking, the bitcoin value should be considered and whether you consider yourself to be disproportionately overly risky in terms of the weight of your bitcoins.
I understand that I probably did not answer this question very well, yet on a personal level, I have considered my choices to sell bitcoin all the way up the price rise at about 1% per every 10% rise in bitcoin has served me very well to remove a decent amount of fiat value from my bitcoin, and even though some may consider that I am overly allocated in bitcoin, which for me is probably currently somewhere between 70% and 80%; however that disproportionate allocation came from BTC price appreciation rather than my investing that much. So, I am feeling really comfortable, even though I have a decently high proportion of my investments value in bitcoin - and I think that I am kind of covered in terms of several advice points of the 14 tweets based on my own goals and aspirations, my past practice and the fact that i have given decent consideration to my own allocation situation. I will admit that several weeks ago, I had to do additional introspection because I had not really expected BTC prices to so easily go past $15k - at least not the first time around, and we are currently back struggling, a bit, with this $15k price point.
Many thanks JJG, for the thorough reply, which I enjoyed reading. I appreciate the time and effort you spent in composing it. Just for the record, I enjoy reading your posts, and don't mind at all that you "overanalyse" things, as you're frequently being accused of. I also tend to overanalyse things in real life, because I believe that more information is always helpful, even if it is sometimes redundant. To those who say "silence is gold", I reply "silence is death".
