My dad bought the top. And I let him.

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  "content": "My dad bought the top. And I let him.\n\nLate September last year he came to visit us in Costa Rica where we had been staying for the summer in Bitcoin Jungle, pretty much fully living on a Bitcoin standard for six months.\n\nHe’s known we stacked for years, asked me about it a few times, but never fully got it. Last spring, I gave him a copy of The Bitcoin Standard and I think that helped him finally grok what it was all about, even if he’s not fully all-in yet.\n\nSo when he visited Costa Rica and saw Bitcoin in action he finally asked me to help him buy some Bitcoin. And I was glad to help him.\n\nOctober 1 he finally made his first smash buy and set up a modest weekly DCA. Privately, I confided with my wife that the top was likely near (we had sold a chunk of sats ourselves only a few days earlier!) but I never told my dad that. I let him be a bag holder. Basically dumped on him.\n\nAnd I don’t regret it for a second.\n\nOctober 6, less than one week later, Bitcoin pumps to $126k which ultimately marked the top. For a small moment he felt like a genius; like he had gotten in just before it goes on to a million like they were saying it would on MSNBC. He was up a couple hundred bucks or something right away.\n\nWe all know what happens in the months since! \n\nBut here’s the thing: It got him started. Secured his first few UTXOs, and that DCA is still active. When Bitcoin dipped below $80k for the first time is when I stated getting the txts. You know the ones. I told him, sure I had expected a minor temporary downturn, no big deal, keep stacking. Explained low-time preference investing, and that the upcoming dip was a big opportunity to increase his stack and lower his cost basis over time and told him he should consider doubling his DCA amount. When Bitcoin hit $60k I told him to double his initial smash buy from last October.\n\nHis cost basis is now lower than Saylor’s. \n\nIf I had told him a dip was coming he would’ve wanted to wait. Probably never would have started stacking and then when ‘the crash’ and the headlines inevitably hit, he probably would have been scared off.\n\nSo yeah, he’s still stacking. And he’s bought the dip. #Bitcoin",
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