One of Silicon Valley’s most famous Venture Capitalist (VC) found it appropriate today to unequivocally tell everyone to take money “Off The Table” or, in peasant language, to sell.
After informing everyone of how he made his billions with grandpa tales of twitter and the rest, the very rich billionaire known to have substantial crypto holdings says:
“If you are sitting on 20x, 50x, 100x your money on a crypto investment, it would not be a mistake to sell 10%, 20% or even 30% of your position. Selling 25% of your position on an investment that is up 50x is booking a 12.5x on the entire investment, while allowing you to keep 75% of it going. I know that many crypto holders think that selling anything is a mistake. And it might be. Or it might not be. You just don’t know.”
Indeed, just as we don’t know whether he sold his crypto – 20% of course – before telling everyone else to sell or whether it was just a heartfelt advice.
Because as we all know, billionaires make their money by telling the masses how to make money, rather than perhaps pushing the market towards a certain direction. And for crypto that direction was down, shortly after Wilson’s statement
Not to say his “advice” is unreasonable. Taking profits is baby 101, which raises the question as to why grandpa had to say it. He of course is not a financial advisor.
And although the price fall might be a coincidence as there has been plenty going on today, it is an interesting coincidence that the price fall happened after Wilson in effect told everyone to sell.
The Silicon Valley venture capitalist is invested in a number of blockchain technologies, including Coinbase as far as we are aware, and is quite a fan of Ethereum.
But save for comments here and there, and of course his unknown investments in actual crypto itself, he isn’t very much involved, except for of course when he tells everyone to sell, presumably after he did do so himself.
And I presume so because he did not take care to say whether he did do so or not, leaving little room for reasonable assumptions.