Bitcoin – Errors of Commission and Ommission

I love this tweet from Eric Jorgenson that sums up his investing strategy:

If you invest, you have had ‘FOMO’ (fear of missing out) and you have had ‘Regrets’.

It may not happen in this perfect circle of investing life that Eric draws, but for most it does.

Over the years, I have developed my own investing strategies that have helped me become a better investor, but I continue to make mistakes.

With Bitcoin, I had no fear, I just did not ask the right questions. I was shown them back in 2010 at 12 cents by Yoni Assia in Israel, but was skeptical rather than inquisitive.

I finally bought some Bitcoins north of $100 when Fred Wilson bought them. But, I never tried to use them (transacted).

I should have played with them more.

In 2015, a friend introduced me to Numerai (probably one of the first, if not most unique crypto hedge funds) and I passed on the investment. Most likely because I had never ‘played’ with Bitcoin. Fred Wilson ended up investing.

In the past month, I have gotten ten Crypto hedge fund pitches. There are now 123 active crypto funds with $2.3 billion in assets and that will likely double by the end of the year.

One thing about all the managers in the hedge funds I have seen…they all have two and three year returns of 1,000 plus percent.

The FOMO is building up inside of me, but instead of chasing, I have been transacting more and more. I am getting closer to the system.

If the crypto assets are a bigger part of our future, there is still much time to back fantastic founders and ride big trends.

Yesterday, Fred wrote about Polychain Capital, yet another investment of theirs that invests in crypto assets. Watch the short Vice video with the founder.

You can overcome a lot of ‘FOMO’ by opening a wallet with Coinbase and just putting in $100. Send $10 to a few friends or start a monthly contribution plan for your kids.

Participating, investing and playing will help calm FOMO and reduce errors of omission.