Phyrex
Phyrex|Jun 16, 2025 10:01
Teacher Fengmi's words are very representative. My father is one of the earliest stock investors in China, so he has a higher acceptance of new things. It's actually interesting. He has two attitudes towards cryptocurrency. Before 2020, I told him that he had made some investments, and he always told me to sell when it was time to sell, not to hold it in his hand. If he could do it, he would do it and keep it safe. He hardly asked me what his main holdings were. At this stage, his understanding of BTC should be the same as that of most non industry players. In 2023 and 2024, his perception began to change. After Bitcoin was approved as a spot ETF in the United States, even domestic news would report on it, and some domestic companies would discuss using BTC as a target. It should be from this time that he could distinguish between Bitcoin, Ethereum, and other tokens. During this period, my father and I had shifted our conversation from short-term trading strategies to investment strategies. He started asking me about opportunities to invest in cryptocurrencies and was very proactive in discussing Bitcoin compliance in the United States. The third stage should be after the second half of 2024. The focus of this period is Trump's bid for BTC and the price of BTC has exceeded $100000, both of which are breakthroughs for him. He began to ask me why the United States would use BTC as a strategic reserve, why BTC would become a safe haven asset, and why institutions and listed companies would buy BTC. It is also interesting that my father would not only ask me, but also consult a lot of data (70 years old) to judge whether I was right or not. That's why he told me before New Year's Day 2025 not to sell BTC. This is also the first time he has told me since I started cryptocurrency that holding a certain asset is better than trading. My father is a very standard short-term stock trader, but he suggested that I hold BTC for the long term. This change lies in his understanding of the market. Unlike Mr. Fengmi's father, my father knew the legal position of cryptocurrency in China from the first day. He was very supportive of me in this industry and also very supportive of me writing outside of China. He often told me to do what he thinks is right, whether it is right or not, is more important than what the law tells you is right.
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