"Mr Howells bought the bitcoins for almost nothing in 2009"
He's lost the currency value of "almost nothing", not millions. Otherwise, I've also "lost millions" because I forgot to buy APPL 20yrs ago.
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Not to mention no one has a mental toughness to hold through every huge rally and dumps over the past 12 years and you'd be losing quite a bit of that anyway.
Exactly this. People assume I own a private island somewhere because I've been at my publicly-traded company for 20yrs and have the accumulated wealth from all that stock growth.
But when the stock first grew, we all sold b/c it was worth a lot back then. Then it grew again and we sold more. And again and again.
The only people still holding original stock were those who didn't need it (e.g. already wealthy), and were willing to gamble on continued growth, because they could afford to watch the stock drop in value and not miss it.