High-Time Preference: The hyper-focus on instant gratification and short-termism is the biggest obstacle to building wealth.
Bitcoin dropped 8% today, hitting its lowest level in 3 months… THREE MONTHS! and the market is panicking.
I’ve received several calls: “Shu Bitcoin crashing ah? Should’ve sold at $100k!”
Man, zoom out. Bitcoin is up over 70% in the past year and 1,000% in the past 5 years!
This short-term hysteria is a symptom of living in a fiat society. When money constantly loses value, long-term thinking becomes a luxury few can afford.
Instead of focusing on building long-term wealth, most are chasing the meme coin pipe dream, that 10000x that will solve all their problems.
The best thing you can do for yourself? Cultivate a low-time preference mindset, think in 5-10-year intervals, and act accordingly.
Bitcoin has been the best-performing asset class in the world for 11 of the past 14 years. And now, institutions like BlackRock and sovereign wealth funds like Mubadala are just starting to enter the space.
Short-term price action? Impossible to predict. Long-term thesis? Simple:
Governments are broke. They’ll keep printing money to fund deficits and pay off debt. The global debt-to-GDP ratio is now 328%, with $318 trillion in debt. These numbers are unsustainable, and the debt will never be repaid.
It will be inflated away.
Politicians and CEOs of public companies are judged on short-term results, often just a few years. But your life is longer, on average, 70ish years. In the grand scheme of a 70-year life, 5-10 years is not a long time.
When things get tough, central banks will resort to printing money. They always do. They always will.
Cure yourself of the disease of high-time preference.
Accumulate the scarcest asset in the world and chill.
