When We Might Consider Buying Some Ether
Anybody who tells you money is the root of all evil doesn’t have any. That line was dropped by Ben Affleck in his iconic Boiler Room speech which epitomizes the alpha male drive for money which characterized investment banking environments at the time. Money may not buy happiness, but there’s a correlation between depression and poverty. There’s also a correlation between work ethic and wealth. The harder you work, the luckier you get.
On the streets, you should always fear someone who has nothing to lose, as their erratic behavior often defies common sense. That’s what you see in the investing world with meme stocks. Those who have real money become less concerned about making more of it, and more concerned with preserving it. The desire to preserve wealth increases as you age since you’ll soon need your wealth to fuel retirement.
Crypto as an Alternative Asset
The biggest tool investors have to preserve wealth is diversification across asset classes. Alternative assets like art and wine have only recently opened up to investors and provide mechanisms to store wealth that move independently of the financial markets. More traditional flight-to-quality assets like gold are now being challenged by the likes of cryptocurrencies such as bitcoin. That’s a good part of
