Today I read the book "The Way of Munger." For many years, Buffett and Munger have been revered by investors as "gods." Their investment philosophy can be summarized from their writings, talks, and shareholder meeting records, with keywords such as:

1⃣ Compound interest

2⃣ Invest in simple and understandable business models

3⃣ Look for excellent companies whose prices are less than their value

4⃣ Deep economic moats and stable profitability

5⃣ Long-term holding

6⃣ Do not invest/participate in what you do not understand — within your circle of competence

These keywords form the core logic of Buffett and Munger's value investing. But is there value investing in the cryptocurrency space? I believe that at least at this stage, value investing does not apply to the crypto world. Of course, Bitcoin is an exception. The reason is that Bitcoin itself is unique and scarce, and over the past decade, Bitcoin's identity as "digital gold" has been increasingly accepted by many. Now, with the Trump administration elevating it to the level of national strategic reserves, Bitcoin has a trend towards long-term value investment.

However, other coins, such as MEME coins, while based on some consensus like Bitcoin, have a fragile consensus and do not possess unique scarcity. Therefore, applying the logic of value investing to altcoins, in my opinion, is incorrect. At this stage, altcoins are only suitable for speculation, and the current situation reflects that. Trading cryptocurrencies, like trading stocks, involves a gambling element. The core is to see who runs faster and who takes over from whom.

Whether trading stocks or cryptocurrencies, my experience is that discovering unique investment varieties with economic moats and holding them is far more profitable than trading. This principle is simple, but in a market like the crypto space, which is in its early stages and filled with countless "take a gamble and turn a bicycle into a motorcycle" opportunities, achieving unity of knowledge and action is very difficult. Everyone understands the principle, but still fails to act on it; this is a human flaw.

After all, making money through investment is not an easy task. More than 90% of Buffett's wealth was earned after he turned 50. Who in the crypto space can wait that long? #WarrenBuffett #CharlesMunger

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