As bitcoin prices head south, investors will either hold their breath, and wonder whether it was wise to go where Nobel-winning economists fear to tread. Or they will shrug and say, “Time is on my side.” After all, it’s not always wise to invest in a largely untested, decentralized asset without nerves of steel. And if you borrowed money against bitcoin? That’s a horse of a different color. Roughly 600,000 margin accounts were held by brokerage firms prior to the 1929 stock-market crash. These loans helped to exacerbate the effects of the stock-market rash and Great Depression.
As bitcoin crashes, pity those wildly enthusiastic investors who borrowed billions against crypto
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Hodl space for this group of investors.
As bitcoin prices head south, investors will either hold their breath, and wonder whether it was wise to go where Nobel-winning economists fear to tread. Or they will shrug and say, “Time is on my side.” After all, it’s not always wise to invest in a largely untested, decentralized asset without nerves of steel. And if you borrowed money against bitcoin? That’s a horse of a different color. Roughly 600,000 margin accounts were held by brokerage firms prior to the 1929 stock-market crash. These loans helped to exacerbate the effects of the stock-market rash and Great Depression.
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