The CLASSIC bitcoin JOURNEY is probably YOUR JOURNEY also

The classic Bitcoin journey is probably your Bitcoin journey as well. So almost everybody who buys Bitcoin and ultimately owns a lot of Bitcoin goes through the exact same pattern of how they buy it when they buy it and how they think about it. First of all, almost everybody who buys their first Bitcoin buys it near a Bitcoin peak, meaning the end of a bull market, meaning an up market, an optimistic market, because almost nobody wants to buy Bitcoin in a bare market. Because why would you buy something that's down? If if you are new to an asset, why would you look at the asset and say, "Oh, that thing's down 50%. That's the asset I want." So, almost everybody who buys Bitcoin buys it when it's expensive. Even James Czech, the number one Bitcoin analyst in the world by far. Nobody else is even remotely close to James Czech. Even he bought his first Bitcoin at the very peak tippy tippy top of 2017. uh the highest the price touched even for a second was $19,000 in the US in 2017. Again, it was a very very temporary, but he because he lives in Australia, Coinbase charged an extra premium on conversions of Aussie dollars uh to US dollars. And so his actual price he paid was not 19,000 but like 20,000. So James Czech, the number one Bitcoin analyst, longtime I mean just a very brilliantly bright guy, buys his first Bitcoin literally more expensive than anyone else bought it in 2017. He bought it more expensive than I bought it in 2017. Now after you buy your most expensive Bitcoin, what matters is what you do next. Because almost everybody who starts buying Bitcoin starts when it's expensive, okay? Including me. So, I started buying Bitcoin right after the spike up to 19,000 in 2017. Thankfully, I was not paying close enough attention to buy it at the very tippy top. I my buys were delayed. So, my first buy was for6,500, but my bank account rejected it. So, I bought I tried to buy $5,000 of Bitcoin at 16,500 right when it was coming off the boil at 19,000, but the bank rejected it. By the time I actually got the pro the transaction to process, the price had dropped to 12,600, exactly 10% of the most recent all-time high at 126. Uh, and then just like James check, I bought on the way down. But at some point, I chickenened out. Just like I chickenened out. I think at some point he chickenened out. And for me, the lowest I ever bought Bitcoin was 6,400 because after it had dropped from 12,6600 to 6,400, I was like, "All right, it keeps dropping. I don't know enough about this asset. I'm going to hold what I have and just chill." And I chilled all the way through the rest of 2018, 2019, and 2020 when I should have been buying a ton of Bitcoin. Now, James Czech was buying a bunch of Bitcoin, but he was also trading it with altcoins and basically lost all of his money. So, uh, a lot of people dabble in non- Bitcoin cryptocurrencies and even in my case for a short period of time, uh, actually in 2017, so I guess it was a longer period of time, but it was a small amount of money. I bought some BCH, Bitcoin Cash, which is junk. Don't buy that. Uh, some Ethereum and some uh, what else was there? Oh, Litecoin. I bought some of those just because I, you know, wanted to diversify in the crypto world and had not had the time to realize that Bitcoin was going to eat everything else's lunch. But anyway, um, James Czech tried to trade those and ultimately lost all of his money, which I did not do. I just sat on what I had, which is why I have way more money than bit than James Czech. Um, but I also started with a lot more from the sale of Bombgar Corporation back in 2014, even though I spent the vast majority of the money I had before I found Bitcoin. So, I've done other videos on why I own a lot less Bitcoin than people think I do. Primarily because I spent the vast majority of the money I had on politics and public policy before I got serious about Bitcoin in 2021. Just is what it is. I would not change it, but it it just is what it is. So, anyway, after you're done buying Bitcoin expensive, people typically buy some more on the way down and then they chicken it out. So, if you're like most people recently, uh, I started advocating people buy Bitcoin at less than $20,000 in 2022. Almost nobody wanted Bitcoin for less than 20,000. They didn't care when Bitcoin was in the 30,000s. They didn't want it in the 40,000s. Finally, a few close friends started buying Bitcoin in the in the 40,000s just because I wouldn't shut up about it. Finally, a few more people got interested in the 50,000s. And then a decent amount of people got interested in the 60 and 70,000s in 2024 finally. So after almost nobody wanted it in 2022, 2023, finally in 2024, a decent number of people bought Bitcoin in the 50,000s and low to medium 60,000s. But what matters again is whether they bought it uh prior to that and whether they bought it uh you know in the dips along the way. Because if you bought it in the dips along the way, even back in 2024, for a while, you had a chance to buy Bitcoin less than $50,000. In early 2024, Bitcoin was in the high $30,000. So, um, but a lot of people feel stuck because they didn't get serious about buying Bitcoin until the 90,000s. And so, the Bitcoin they own was bought in the 90s or the 100s, between 100 and 126. And then they're like, "But wait, it's not a good investment for me." But again, you're realizing that that's not the only Bitcoin in your life you're ever going to buy. Nobody watches an asset go on forever and then literally spends 100% of their money on it all at one time and well, one fell sweep at the top. Even James Check, even me. I mean, sure, you buy your bit your first Bitcoin when it's expensive, but that's not all your assets. It's not like that's the only asset you own. And so, all of us, uh, the question is, what do you do next? as the price chops around, goes up and down, do you buy more? Most people in their first bare market are are afraid. They're tepid. They're they're not sure what they're doing. Uh and for everybody that bought after 2023, this is the first bare market. I mean, they have not seen the the low in November of 2022 was the lowest it's been in recent years, right? So, if you bought after November of 2022, that means all of 23, all of 24, all of 25, and so far in 2026, uh you're buying at uh or at least prior to October 6th uh of of 2025. You this is your first bare market, which means you're probably doing what everybody does in their first bare market is you're skittish. You're wondering if you made a mistake. You don't realize that this is Bitcoin's fifth bare market. five FIF, you know, FIV, whatever, however you spell spell, you know, fi the number five bare market. Uh, fivar market. Um, so it it's I if this is your more than first time, it's straightforward. It's easy. You know what to do. Uh, in 2022, that was my second bare market. I was buying all the way down, all the way down. down as the price dropped in 2022. I was buying all the prices all the way down all the way to the very bottom at 15,500. And yeah, I was buying in the 40s. I was buying in the 30s. I was buying in the 20s. I was buying in the teens. And then I was buying all the way back up in the 20s and the 30s and the 40s. I mean, I have Bitcoin. I've bought as high as 124,000. So, you're in good company. Uh, but if this is your first bare market, I get it. You're probably skittish. You're probably freaked out. You probably think maybe this is the end. you know, you got you were late to the party, you know, whatever. Uh you're not late to the party. You'll be fine. It's going to be everything's going to be fine. So, uh if you can buy more Bitcoin, sure, buy it. You know, there's never a bad time to buy Bitcoin. But I can guarantee you if you don't buy any Bitcoin through this bare market, you will be buying Bitcoin in your next bare market, which look, it might not come around till I don't know, 2029. Nobody knows uh to 2030. I mean, who knows? uh the the peak I guess that you know I guess the prediction if it's a four-year cycle would be the next bare market's in 2030 but in 2030 if that's your second bare market and the price is dropping precipitously from $600,000 down to $400,000 you'll be looking at the price you'll be like oh I've seen this movie before $400,000 down 33% from $600,000 this is on sale and you'll be buying all the way through that dip the reason Bitcoin's price always bottoms out and goes back up is because this is not people's first rodeo. It's because a bunch of people have seen this movie before and they're buying all the way through and I don't think Bitcoin will go below $60,000. But if it does, I've got plenty of Bitcoin. I'm willing to do a Bitcoin backed loan uh below prices of 60,000. So yeah, if the price ever does dip that low, I will be a buyer. I'm willing to leverage some of my current Bitcoin to buy more Bitcoin if it gets that cheap. Now, if I had dollars that were actually mine, I would buy them with Bitcoin immediately. Or I should say, I would buy them I would buy Bitcoin with US dollars immediately, regardless of the price. But if it's with borrowed money, you know, you got to get a discount on borrowed money uh to make the economics work if it's not your money. And a Bitcoin backed loan is not your money. It's borrowed money. So anyway, uh every bare market, there's a bunch of people that are this is their second, third, fourth, fifth bare market. those people are buying all the way through the bottom, even if you're scared. And those people will have higher returns than you will have. Uh so if you're like most people, you buy at the top. What matters is what you do next. Do you buy through the next bare market or do you buy through your second bare market? Whatever it is, eventually you'll have the conviction to buy a whole lot at the cheapest possible prices. You'll be chasing the price down rather than chasing the price up and you'll end up with Bitcoin the best performing asset uh that you could have possibly bought.