Ray Tong bought Bitcoin when it was $10 and hasn’t sold since 2014. Why doing nothing was his best trade

Ray Tong's best Bitcoin trade was not selling at the perfect price. It was holding on. He bought his first Bitcoin in 2011, when the cryptocurrency cost just $10 and he has not sold any Bitcoin since 2014. He told Coinbase that a decision he initially made because he was unsure about the tax implications of taking profits eventually became a long-term investment strategy. Tong said, “I just kept buying and held off selling,” adding, “Which obviously helped tremendously with the 2017 bubble. So the best trade I’ve done is probably literally doing nothing.”So instead of trying to predict every market move, Tong found value in staying invested, setting clear targets and also resisting the urge to react to every price change.

First reported by The Economic Times. This page is a short excerpt; the full text is theirs.