 Welcome to Digital Asset News, take your top stories and cryptocurrency digital assets and break them down to bite-sized pieces. Today I just want to do a little dance snippet and talk about some things about how important it is to hodl and not really do much of anything, just hold on to your cryptocurrency. And first of all, before we start, I want to say I apologize for yesterday I didn't have time to actually put out a new video. I've been working really hard on this cash out alternatives and I'm going to release this today. And we're going to talk about all about crypto loans, how to actually use them in my personal opinion and how we can use those for four different criteria. We're going to go over everything from investment properties using Airbnb, VRBO, Amazon FBA, existing businesses and startups as far as capital asset allocation. And then the last one is actually loans for property mortgages. So I will be releasing that later and I have to break it up into parts because there's just so much information. Any out. But today what I really want to talk to you about is this guy. His name is Ricardo Salinas. He is the second richest person in Mexico and he gives us an invaluable look into what smart money does. But it's not about what smart money does, but it's about how they actually could potentially screw up because even as smart as they are and they're into these high stakes games and they have a lot of money and they're really good with investments, they can still screw up. And it's just a cautionary tale of what to do. And this guy right here, he could have lost about 70 to 80% of his investment into Bitcoin if it wasn't for one thing. And it really just comes down to dumb luck. So we'll get into that in a bit. But first, just to let you know, Mr. Salinas here, Mexican businessman, founder and chairman of Grupo Salinas, a group of companies with interest in telecommunications, media, financial services and retail stores. And he's worth about almost $13 billion. So good for this guy, right? So this is a 20 minute interview and I highly encourage you to watch it. It's over on a coin telegraph on their YouTube channel. I will link it in the description below, but there's just two snippets I want you to listen to and just to realize just how precarious the situation actually is. And really what it comes down to is just to hold. You don't do anything special. There's no, no, some, some magic material that you have to do or study or do anything really. It's just buy and hold. And before we take a listen, just know that Ricardo here, he's got 10%, 10% of his liquid assets into Bitcoin. And he got into it in 2013. And I'm going to tell you, and I'm going to have him tell you exactly how he got into it. I didn't understand this thing about the wallet and buying it in the exchange and so forth. It was very complicated. So what I liked about Grayscale was they simplified it. Basically, you put your money in a trust and this trust would do the investment. They would take care of the whole thing. They would take care of the custody. They sent you, you know, a monthly statement. And that was a very good arrangement. And eventually that, that trust turned into GBTC, which is now an exchange traded product. So I was very happy about it. But I'll tell you, the next part was very interesting. This was on the 1st of November. It was $200. And then I looked at it again on the 20th of November. And it was already $550. So I thought I'm a genius at investment. So I said, I want to add some more. So I added a lot more. And I stayed in there for all the way until 2017. So yeah, we made a very nice trading profit. So yeah, right here, you're probably thinking yourself, oh, this guy's a genius just like he talks about. Well, he's not. He's not a genius. He's just a normal guy, just like you and me. There's nothing really special about Ricardo. I mean, he's probably done a lot more work than some of us and probably got some breaks and everything else behind that. But it's not that he is a genius of investing. It's not that he held out and just said, oh, you know what? I have a crystal ball. I know exactly what's going to happen. Here's how he made all those gains throughout that whole time. Take a listen. Because obviously, when I bought the coins around $500 and then I saw it start going up, I mean, I was going crazy because I thought that I had to sell them. I mean, it was obviously ridiculous, right? But it so happened that this trust that Grayscale had, it was impossible to get out of it until a certain date. So through no merit, through no merit of mine, I had to sit around until that date came, which was in February of 2017. And then I could take possession of the of the asset and sell it. So it's not because I'm a genius. It just happened that I was not able to sell it. I was not able to short it. I was not able to hedge it. So I just sat around. And I think it's been a great investment lesson. It's a great investment lesson. And this is why I wanted to bring it to you to remind you that you don't have to do anything special. This year coming up in 2021 is going to be fireworks. And really, all you have to do is just not sell the whole farm. Now, I just sold a little bit of Bitcoin before because I had an exit strategy. And of course, some people said, why'd you do that? You shouldn't have done that. Well, this is what I have a plan in place. And I took some profits and I reinvested into something else. And this is just some of the things that I do because I worked out best for me. But just like Ricardo talks about here, if you can just not sell, I mean, the lion share, the majority or everything, then you really do come out pretty well in the long run. So some people will say, well, what about the crashes that are coming up? Because Bitcoin always crashes, you know, it's in a four year cycle and that is very true. However, right now, it is not the time to sell. I will just say this, if you had bought five, six years ago and just held all the way to right now, even if you bought at the very height of six or seven years ago, I mean, you'd be way ahead, even at the low point in 2018. So really, again, just holding onto your asset is really the right thing to do for a very long time. And you usually be way ahead of the game. So there's alternate strategies that I'm going to be trying on later, but for the lion share, I'm just going to be holding. All right, so that is it for today's video. I will be releasing the other one where we talked about the cash out alternatives later today. So take a look out for that. So thanks for watching all the way to the very end. I really appreciate it. I'll see you on the next one.