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    Veteran Investor Who Bought 1 Million BTC in 2013 Reveals Strategy for Success in Investing

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    Tobi Loba
    Tobi Loba
    Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to fulfill her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.




    The chairman of Virgin Galactic, Chamath Palihapitiya, who purchased one million Bitcoin (BTC) in 2013, has revealed his investment strategy for spotting the next big trade, for the benefit of the newbies in the crypto industry and those who may find it impacting.

    According to the veteran investor, exceptional investors are more interested in slugging percentage that focuses on risk management and position sizing, rather than batting percentage that has more to do with investment returns without considering the level of risk involved in realizing their goal.

    In one of his recent tweets, he pointed out that smart investors don’t want to lose their big chances to win:

    “Investing 101: Don’t confuse slugging percentage with batting average. The former is being the cool kid in high school – you’re a rare thing and everyone wants to know the secret. The latter is like going to the prom with your mom. Everyone talks about it, but not kindly.”

    “[Savvy investors] know when to capitulate, buy up, when to be ‘risk on’ and ride the winners. They care more about owning a big piece of one winner vs irrelevant pieces in many winners.

    “All great investors have gotten one big thing right: they focus on slugging percentage. They know when to capitulate, buy up, when to be “risk on” and ride the winners. They care more about owning a big piece of one winner vs irrelevant pieces in many winners.

    “Take the time to understand what you own. So deeply that you could be “all in” if necessary. It should never come to pass but if you have this level of conviction, you will size and add appropriately and let your slugging percentage do all the talking.”

    Palihapitiya’s 2013 Success Story

    Palihapitiya’s success story in the cryptocurrency ecosystem started between 2012 and 2013, when he made a big decision to purchase 1 million BTC, at the time the leading crypto was trading around $80. Today, his huge investment now worth more than $10 billion.

    “I’ve made some great bets before but nothing compares to my bitcoin bet in 2012 and sizing up…,” Palihapitiya noted.

    He further stated that many people may start to turn to alternative assets such as cryptocurrency if bonds continue to return zero.

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