January 25, 2022

Special Edition 🎁

Let’s do something special today.

Usually, the Milk Road email is a couple quick news nuggets and my reaction to them.

Today is different.

I sent an email to some of my smartest crypto friends asking them TWO QUESTIONS:

  1. We just had a big price pull back. What assets are you Buying? Selling? Holding?

  2. What’s your mindset right now?

I sent this to founders of billion dollar crypto companies, investors, engineers, and a couple of absolute degenerate gamblers. We need a name for these mentors of the Milk Road. Roadies?

I got about 10-15 answers, but that would be too long (and too juicy) to put into one email.

I’m going to share the first 4 people’s answers here, and then if you filthy animals like this as much as I do, I’ll share the rest on friday.

Roadie #1 – co-founder of one of the biggest NFT marketplaces in the world

I’m not buying anything right now. The market is too choppy. But I’m not selling anything either. I’m a long term believer in the space. I hold BTC, ETH, and AAVE.

I’ve been through two of these crashes. I’ve seen bitcoin drop 50% in a day. So I don’t check prices. Honestly, it’s not about the money, holding crypto feels meaningful in a way that holding money does not.

Roadie #2 – a crypto OG & early investor in Solana

I’m selling nothing. I have a rule not to sell in down markets. I just hold.

Buying wise, I already had big bets on projects I have conviction in. But I did buy some ETH this week, it looks undervalued to me. BTC is a safe bet. Very likely $30k holds.

I told friends to buy some Solana and Render.

Mindset? I tell myself that in 5 years this will all be higher because we are still early. My mindset is to hold through the dips. My strategy is to take fewer but highly concentrated bets so volatility is something I’ve learned to deal with.

Roadie #3 – CEO of a startup (sold for $70m+) who does crypto for fun

I keep it simple.

I optimize for sleeping at night so I never let crypto become too big of my overall portfolio. I started selling in Q4 when it made me feel uncomfortable. This was coming in on 50%+ of my entire liquid net worth. I am comfortable with 50/50 but anything above that makes me feel uncomfortable.

I hold 50% BTC/ETH

30% USDC (stablecoin)

And 20% to gamble on crazy shit.

When we have a bull run, I start skimming profits to buy back in… because shit always drops.

In a market downturn, I have three rules of thumb:

1) don't catch a falling knife (timing the market to buy back-in, I just set limit orders and let them fire off)

2) don't fall for the headfake (every time we see a big decline, we see it go back up, and then the whales dump again… better to wait to see how things settle before rushing back in)

3) get out of all shitcoins (as those get hammered in the market at like 80%-99% drops).

Roadie #4 – Tech investor/VC. ($100m+ net worth)

I’m buying ETH like crazy. Hoarding it.

I’m not selling anything. I’m holding eth, btc and cryptopunks.

I never use leverage, so my mindset is pretty easygoing overall.

I take a 5-7 year forecast and ask myself where do I see this? Generally that helps me remain incredibly bullish.

My thesis on ETH is really simple. NFTs are a thing and won’t go away. But picking individual NFTs is impossible for me. So eth is the language we will all be speaking. Not sure what we will be saying but I know we’ll be talking, if that makes sense.

— OK I’ll stop there.

I can’t give all this value away for nothing right?

*smirks like Denzel Washington in Training Day*

So here’s the deal.

I’ll give you access to the spreadsheet

You just:

  1. Go on either Twitter or LinkedIn

  2. Post something like “my secret weapon for learning Crypto & Web3 = reading the Milk Road every morning. It’s so good. Highly recommend it → Milkroad.com “

  3. Screenshot your post and email it to me —> and I’ll send you the full sheet this week!

Your move!

– Shaan aka Mr. I Typed This While Watching The Bachelor