Response To Cole South’s ‘Why I Don’t Own Bitcoin Anymore’ Today

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Earlier this week, writer Cole South published a post on why he no longer HODLs bitcoin that generated some animated Twitter discussion. So it seemed important to provide a quick walk through of some of South’s arguments from a Bitcoiner perspective. Of course, I’m not expecting to change South’s mind and get him to buy back in, but I believe a response is worthwhile so that onlookers can understand the difference in mindsets. South’s text will be in block quotes throughout.

“Productive assets vs Pet rock assets

In general, I try to own assets that have real end user demand/utility/cash flow over ones that are strictly reliant on market supply and demand.”