Why you shouldn't buy Bitcoin in 2022 if you have Crypto FOMO

If you have a fear of missing out on crypto, that's one of the worst reasons to contemplate an investment in Bitcoin, Ether, NFTs, or anything else you don't understand. But the good news is that you might already have exposure to crypto-related investments or projects if you own index funds or any other diversified investment fund.

In this video, we'll examine the phenomenon known as Crypto FOMO - why so many people are worried that they might be missing out on Bitcoin or other crypto investments. There are huge marketing campaigns, and countless stories of people who've hit it big in the past. But are those reasons good enough for you to put your money at risk?

We'll look at whether the early returns can be repeated, and why you may already have exposure through the holdings in your index funds (or other diversified funds), since companies that mine cryptocurrencies or use blockchain technology are already listed on public stock exchanges and in major stock market indexes.

00:00 Intro
00:35 Crypto FOMO
02:02 Matt Damon marketing Crypto
03:08 Spectacular early returns of Bitcoin
05:30 Bitcoin losses can be huge
07:08 Will Bitcoin become mainstream?
11:18 Should you buy Bitcoin?

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[PreetBanerjee]

Apologies for the audio glitch. At 8:35, I realized I had recorded slightly wrong numbers and re-dubbed them, but forgot to remove original voice track. For clarity, here is that section with the proper numbers:

"If 26% of the world’s population is under 15, and 10% are above 65, that leaves us with 64% of the world’s population we could roughly consider as the market for cryptocurrency uses. From a total population of 7.8 billion, that equals 5 billion people. One estimate suggests there are over 300 million crypto users worldwide. This represents 6% of people on earth between 15 and 65. That suggests we are still in the early innings of the Early Adopter phase. Some might argue that the overall market is smaller than 5 billion people as some people don’t have access to technology in general around the world. Even if you cut this potential market in half to 2.5 billion people, that puts adoption at 12%. Still in the early adopter phase."

[rokairan]

This is the most reasonable crypto recommendation I've ever heard. Well researched and presented. Thank you!

[NAL]

Good video Preet. I diversified my investment portfolio with Crypto and normal shares but lost a lot of Crypto investing in DEFI DAO and Node Projects as most of these projects were rugpulled. You are right, it is still early days in Crypto, it is unstable, there's a lot of charlatans out there who are not doxxed, running these DAO projects and who are ready to take your hard earned money. Most important when investing in Crypto, do your own research and only invest what you are willing to lose.

[LeedawG]

I enjoyed the unbiased viewpoint, a lot of people are fomo'img out and depositing life savings or funds they can't afford to lose.
I was deeply invested/all in in 2017/2018/2019/2020 when people called me crazy during the deep bear market. Unfortunately I took my gains and bought my 3rd property and missed the 2020/2021 jump.

I often ask my friends and people investing how many people do they know who became wealthy from crypto, and they can't come up with any personal examples. As you mentioned, most people would have cashed out after 100% gains

[Steven-wqtx]

Globally diversified portfolio will always win out. There is no point in picking the next tech stock, figuring out which EV Car manufacturer, or like you said, crypto mining companies to pick. Because the market is dynamic and will always adapt. You’re better off using the dozens of hours of research into improving your career skills and growing your personal salary.

[albfor]

I think I’m gonna follow you for a while. Your clarity makes comfortable.

[anonymous]

Thank you Preet. Yes man the FOMO is real. And I almost got into bitcoin end of 2021. Funny thing : the transaction were I transferred my funds to a crypto trading platform was rejected by the bank Anti-Money Laundering unit. I think that was a sign to move on and keep investing in good old index funds 👍🏼

[odarb]

Preet! Trust all is well long time subscriber. Question! What are the best INDEX FUNDS in Canada? Please and thank you.

[CryptoBellwether]

What you're missing is Mainstream Adoption when the average person invest, it's over. The large Institutions and WALL STREETS biggest Trend is Packaging Bitcoin Miners and going Public. (That's the Smart Money) follow them.It's stupid to let someone trade your money when you can just dollar cost average into it... Noting more risky that being in the highly over inflated stock market and or REAL ESTATE

[Maloha]

The Rogers' diffusion of innovations curve was very interesting, thanks for sharing Preet!

[sl]

One important thesis you didn't cover was escaping government debasement of currencies. Look at Iran, Turkey, Zimbabwe, and even the US, where 40% of new currency was "printed" since March 2020. Had I not stumbled into Bitcoin, studied it, and then purchasing some, I would have witnessed my purchasing power deteriorate as housing market exploded due to influx of new money "printed" since 2009 and even more so in 2020-2021.

I agreed with most of the videos, but to dismiss Bitcoin without looking at LONG-TERM preservation of purchasing power is simply erroneous.

[watsss]

Preet do you own Bitcoin or any other crypto?

[violetalight-ourrealm]

Preet hahahaah ur narration...Im dying laughing...ur a genius 😆😆😆😆🤣🤣🤣🤣

[blueviserion]

Thanks for revealing we're in The Matrix with these sound glitches.

[masadshah]

Preet, yet again, great video. I have a question for you (not related to this video).

I'd really like your insight into psychedelic medicine and companies that develops psychedelic-inspired medicines and therapies to address addiction and mental illness thus investing in psychedelic companies. Thoughts? Future video?

[cherylhurst]

Great video Preet. I don’t feel FOMO with crypto thankfully, but I know a lot of my friends do and it’s nice to have a resource to share with them now

[SniperLogic]

Until we have the Dyson Sphere built, I’m not gonna be too bullish on Bitcoin.

[stevenswinton]

Robert Kiyosaki isn't credible? That's the craziest thing I've heard

[skrmacs]

I tune in for your informative topics. But then I get distracted by your manliness Preet.

[spector]

It never makes sense, not only in 2022.

(Cue the crypto fanboy hate comments)