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Crypto
Three years ago, I had ~[N]% of net worth in crypto, mostly on hardware wallets ("self sovereign"), guided in spirit and discovery by the Bankless bros, David Hoffman and Ryan Sean Adams. Also a bit in esoteric crypto stocks. MicroStrategy was considered risky and untested, actually basically failed as a business intelligence software provider I had first encountered over ten years ago, and Michael Saylor pattern-matched as crackpot-in-the-making a la John McAfee. But by holding GTBC and MSTR in tax-advantaged accounts, that risk carried a heads-I-win-tails-I-win flavor of asymmetric upside.
After ZIRP ended, crypto became [X x N]% of my net worth, while my real estate holdings dropped in value.
I learned from the experience that self-custody carries three insurmountable drawbacks: safety, convenience, and tax/legal risk. My very simple Ledger devices had stupid hardware issues, like un-replaceable batteries losing the ability to charge. The company got hacked,...
