Key facts:
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The bullish conviction of holders remains despite their money losses, such as NasDaily.
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Even though his bitcoins depreciated 40%, he bought 3 more BTC the last few days.
The depreciation of bitcoin (BTC) in 2022 has unleashed red numbers in the wallets of some traders. Far from making a profit, those who bought when the cryptocurrency was trading at more than $40,000 a few months ago are now facing losses. Some stronger than others, depending on the pocket and investment of each person. Something that does not escape celebrities, such as the famous youtuber NasDaily, who has more than 50 million followers.
NasDaily (real name Nuseir Yassin) bought $500,000 in bitcoin for the first time when it was trading at USD 40,000 at the end of the first quarter of the year. This was announced in a video published on March 25, just three days before the cryptocurrency reach its 2022 high at $48,000 and start a strong downtrend. Right now, it’s worth nearly $30,700, almost two months following Yassin’s entry.
After the drop in the price of bitcoin, your investment has become USD 300,000, depreciating by 40%. However, this did not stop his long-term bullish thinking for the cryptocurrency. With a smile for a interview with Cointelegraph, he said: “It is a great proof of conviction.”
In fact, the famous youtuber confessed that, far from wanting sell your bitcoinsis buying more. His initial purchase had been just over 10 BTC and, given the fall, he has decided to acquire 3 more BTC. This is something that I had already anticipated from the start. When he announced his first investment, he said, “Even if prices fall, I’m going to buy more.”
As a holder (long-term saver), you believe that it is time to have bullish conviction for the next twelve months. Taking advice from Warren Buffet, he argues that investors should be fearful when others are greedy and greedy when others are fearful.
According to the current rate of Fear & Greedthe market sentiment is now “extreme fear” on a scale of 10 out of 50. In the midst of this scenario, youtuber is convinced that the adoption of cryptocurrencies will continue to grow because it revolutionizes money. “It is the first time that we can own a small part of the internet,” he estimated, referring not only to bitcoin, but also to other cryptoactives, such as NFTs (non-fungible tokens).
“Cryptocurrencies opened my mind to the problems that exist today,” said NasDaily.
Against all the tide of the market, the youtuber, in addition to buying bitcoin, began this year to make cryptocurrency content. He noted that he is caught up in “this revolution that is shaking the world” and believes it is important to convey this to his audience.
“Cryptocurrencies opened my mind to the problems that exist today and how we can collectively fix them tomorrow. That’s why I’m excited and I should also try to educate my audience regarding it,” he said.
To this end, he participated this week in the World Economic Forum (WEF) in Davos, Switzerland, and days ago he interviewed CZ, the CEO of Binance. During their meeting, the head of the company stressed that what led him to create one of the most successful businesses in the ecosystem in 2017 is the conviction that cryptocurrencies are the future.
