This is a quote that I just discovered, and I feel like it is very suitable and very true in this time we are living in right now. Do you know why? I have been speaking to lots of people about cryptocurrencies, but to be honest, I really don't like messing around with the money of other people.
Some people have asked me to invest for them, and even though I could do so, I normally say that I rather lose $1000 of my own money, than $100 for someone else.
But, as I read this quote from Jeff Bezos, I really feel like it is a quote for the days we are living in right now. How come?
There are so many investment opportunities and there are so many projects that seem to be promising and come with giant potential. Of course, many of them will end up in the garbage can, but if one of them ends up along the victory lane, you will still be in a plus. Just think of it this way...
An investment example!
Let us say that you have $10,000 to invest and you invest $1000 in ten different projects. Now, maybe nine of those projects will turn to zero, but if one of those projects turn to $100,000, you will still be $90,000 in plus.
Maybe you find it unreasonable to think that a project will give you a 100 times payoff? Yesterday I spoke with a guy who received 4 BTC as a present from his brother in 2013. Back then, the price of one Bitcoin was far below $100. What do you make of this? In ten years, the price of Bitcoin has boomed from somewhere below $1 to more than $40,000 at the moment. That is way more than 100x payoff.
If you look at all those Defi projects currently available coming with an annual percentage return of more than 100%, and if you add the chance of compounding your interest, then it gets even higher, there are lots of awesome investment opportunities available right now.
Maybe it sounds dangerous, but if you listen to the advice of Jeff Bezos, I believe many of us should take such risks right now and give it a try!
Of course, this is not investment advice, this is just about investing with a perspective. Do a lot of research first and do not forget about the advice from Benjamin Franklin who said: "An investment in knowledge pays the best interest."