Risto, when do you plan to buy back at a loss - or you already did? (please
bear with me
)
It is not that simple
- "My" holdings are held through multiple organizations, which also have other stockholders, and they all have their different targets for investment allocation.
- Then there are arbitrage, OTC, and exchange operations that require fiat capital and are more profitable when there is high volatility, prompting to have more fiat at those times since it generates more BTC as the arbitrages are juicier (while also providing hedge against catastrophic loss when most needed).
- Then there is our family target of having a balanced allocation of crypto, precious metals, RE and other. Since crypto is the only one that tends to appreciate, if I sell too much and the price-chasing does not work, the situation corrects itself naturally and soon I am again looking for a new bubble to sell into.
=> If I make a move, I do it based on thorough analysis (thousands of lines of Excel data and hours of analysis before this one), have considered all the possible outcomes and assessed the probabilities, found a positive expected value (where the value function is a complex aggregate of all the goals of the different actors whose wealth I manage) and a
bearable worst case. Then I see how it unfolds, and pocket the profit or loss according to the plan.
If bitcoin goes up, it is a profit really, because it opens up new opportunities to influence the world to the better. Also in this case it rewards us with a 7-figure fiat position.
If it goes down, then my greatest pleasure is that my market analysis was correct, and I also get to cash out a small amount of fiat, and keep the bitcoin count the same or even slightly increase it. So this is also profit.
With bitcoin, you cannot actually lose, that is the beauty of it 
