Creator of the most popular memecurrency on the market gives a history lesson for one of the most influential personas in the industry
Dogecoin creator Billy Markus noted Binance CEO Changpeng Zhao’s post on Twitter about the meaning of the famous internet meme “HODL”. Zhao assumed HODL is an acronym that actually stands for “Hold On for Dear Life,” but the Dogecoin founder was quick to correct the CEO of one of the world’s largest cryptocurrency exchanges.
According to the creator of the most popular memecurrency on the market, the origins of the HODL meme are going back to the Bitcointalk forum, which was a shelter for cryptocurrency and Bitcoin enthusiasts back when crypto was not hitting the levels of adoption we see today.
The user with the name “GameKyuubi” shared a long read describing his relationship with cryptocurrency assets and why he chooses not to hold it instead of actively trading. According to Markus, the user who wrote the post was drunk at the time of writing and misspelled the word “hold” in the title “i am hodling”.
The “hodling” meme then rebirthed into a fully developed investment strategy on the cryptocurrency market.
What is hodling in cryptocurrency trading?
The name of the strategy speaks for itself: traders who choose hodling do not try to catch local lows or highs and do not trade in a rangebound. The only trade that traders following the hodling strategy implement is buying.
As for the effectiveness of the strategy, if the original poster would have bought $100 worth of BTC in 2013 and held his coins until now, Kyuubi would’ve been up by more than $20,000 and almost $50,000 at the last ATH.
At press time, Bitcoin is trading at $29,314 and still fails to rally above the psychological price of $30,000.
