Vinny Lingham
👤 SpeakerAppearances Over Time
Podcast Appearances
But it was good for me to get into Bitcoin early, understand the tech, and then go and figure out where things are going to go as the community decided to go in a different direction with Bitcoin.
But I think owning a piece of the future, which is crypto, is important.
I think most people's biggest mistake to make is they get too over their skis and put too much money into it.
And my advice for everyone is like, hey, depending on where you get in, it could be early, it could be late.
Manage your exposure.
Just remember, it's an investment like anything else.
And you would do yourself a big disservice if you just went all in.
And I've seen it happen many times with lots of people.
They lose it.
The crashes are always going to come.
I don't think we're through the bubble buy cycles in crypto.
I've seen four or five of them now.
And there's probably another one brewing.
And so people should be very careful.
Yeah, it's very volatile.
But it's okay if you've got like 5% of your net worth, 10% even, and you kind of just leave it and you see where it goes, that's fine.
But I know people who've got like 100% of their net worth in crypto.
And they're like, yeah, you can go up and go down.
But when it goes down 60%, 70%, 80%, depending on what crypto you're in, maybe even 90%, it's pretty painful.
And I've seen that happen to a lot of people.