Why this crypto CEO uses a simple and traditional investment strategy to build his bitcoin holdings

Why this crypto CEO uses a simple and traditional investment strategy to build his bitcoin holdings

Bitcoin has had a whirlwind few months, surpassing the $60,000 mark for the first time ever in March before promptly tumbling down near $30,000 in less than three months. The volatility, stemming from a wide range of factors including and a , has of the digital token, which was drawing in waves of newcomers with its lightning-fast growth. But despite the volatility of the coin, some investors have continued to steadily build their holdings. That includes Adam Traidman, CEO and co-founder of , a popular crypto wallet with more than 7 million users. Traidman is a veteran of bitcoin's massive price swings, which is why he doesn't try to time the market. Rather, Traidman uses a more conventional investment strategy: dollar-cost averaging. To take advantage of dollar-cost averaging, you invest a fixed amount on a regular basis instead of buying a lump sum of stock all at once. This allows investors to and takes the emotion out of investing. For Traidman, that means buying a little bit of bitcoin every few days, no matter the price at the time. This, he says, helps him avoid the psychological stress of buying at, say, $60,000 only to see his investment lose 20%