The Promise of Bitcoin: The Future of Money and How It Can Work for You by Bobby Lee & Bobby C. Lee

Author:Bobby Lee & Bobby C. Lee [Lee, Bobby]
Language: eng
Format: azw3
Publisher: McGraw-Hill Education
Published: 2021-05-17T16:00:00+00:00

WHO’S ADVOCATING FOR BITCOIN?

This is a corollary to the point above. If you want to know that a movement or venture has integrity, consider the company it keeps. Who’s interested? Who’s involved? Who’s running things? If they’re reputable folks with a history of sound judgment, there’s a good chance that there’s something behind it. If the individuals attaching themselves have more questionable backgrounds, the movement probably won’t have much staying power. Of course, you’ll make this determination after vetting them carefully yourself. News articles, 10-K reports and other financial documents, and in some cases personal references are a good way to evaluate individuals and their commitment to an enterprise.

The same principles hold true for investments. You would be smarter tracking Berkshire Hathaway or working with an experienced wealth manager or a respected wealth management firm than your cousin’s friend or an outfit that has contacted you via mail, advertising a free steak dinner if you sign up for their presentation. This has happened to me, and while I like a good steak, I toss those investment scam inquiries in my trash can.

When I’m sizing up investment advice, I weigh the opinion of people who clearly know their products and are not caught up in the euphoria of something that a lot of people are praising. I have always treated the providers of investment advice with care and balance. If someone famous endorses something, I may pay attention. But I’ll pay more attention if someone famous can prove why I should pay even greater attention. The rapper Snoop Dogg has made a lot of money entertaining, but he also famously advertises for T-Mobile, Pepsi, Adidas, Chrysler, among other brands. Snoop Dogg also likes to play poker and has spoken favorably about Bitcoin, and I am suitably appreciative. But how committed is he? “You cannot carry water on both shoulders,” wrote Charles Porter in his novel-turned-Oscar-winning film True Grit.

The best Bitcoin advocates stand up to any scrutiny. They include respected investors, entrepreneurs, and executives from the corporate world. I’ll count myself among that group. I spent almost two decades working for a few of the world’s best-known tech companies. I’m a product of corporate life and possess all the cautions and business know-how that corporate experiences bring. I’ve run departments of respected professionals for those firms, and later, started my own company, which I built into one of the biggest service providers of its kind until outside forces conspired against it. You could even say that I smartly navigated those forces by selling BTCC at the right time, before conditions worsened and the business might fail.

And while many people were smart enough to acquire more bitcoin than I, I had enough foresight to mine my own and recognize its potential value to the world. I’ve adopted the most conservative of investment strategies, based on Warren Buffett’s philosophy, which he inherited from Benjamin Graham. Find something you believe in, something that is undervalued by the market, that you know provides an invaluable service, and don’t be afraid to hold onto it, even if others are going a different direction.

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