“Hodl,” but in English
“Invest for the long term.” It is the most basic financial adage on the planet. It is even the principle your 401(k) is built around. Invest a small amount now and keep consistently investing small amounts, and as your tiny seeds of money grow, by the time you retire you will have a mighty forest of cash. That is more or less what the internet term “hodl” is all about. It is “hold,” but misspelled.
The root of this is pretty simple. A contributor in an altcoin forum had a bad single day on the market, and like many who have looked at CNN’s Dow ticker and flinched, he went home and had a slug or two of liquid courage. He then wrote a typo-filled post when he explained that he was “hodling” onto his altcoins. In fact, the title of the post was “I AM HODLING.” Since the internet is prone to silly jokes, HODL became the rallying cry for altcoin investors in the face of turmoil.
Like any adage, whether in meme speak or stitched on a sampler, it is worth considering as you form your altcoin strategy. Panic is not a useful emotion when you are investing. That is especially true when dealing with financial instruments like altcoins, which will see wild swings as factors like the regulatory approach and legal guidance change. Care should be taken whether you are investing in ETFs or looking at altcoins. You should consider “hodling”, however misspelled, as a valid strategy for altcoin investment.