“Even for Bitcoin Maximalists, a Price Rise Matters”

If you are a Bitcoin maximalist (bitmax), you might wonder whether a rising Bitcoin price is irrelevant, and whether a falling price is actually advantageous because you can buy more. This view starts from the premise that bitmaxes have no interest in short-term trading and aim for long-term holding. But this simplifies bitcoin's essential value and the investor's position.

For example, an investor who buys 1 million won worth of Bitcoin each month can acquire more satoshis (the smallest unit of Bitcoin) when the price is 50 million won than when it is 200 million won. This is the same logic as buying at low prices early to secure more shares when investing in stocks and other assets.

Money is not simply a concept of increasing numbers; it is a means of transferring the economic value created through present labor to one's future self or family. Bitcoin can be used as a savings tool that safely carries that economic value into the future. This means bitcoin is not merely a speculative asset, but over the long term it preserves and moves purchasing power.

Even without selling bitcoin, it is natural to feel good when its exchange value rises in the market and its ability to preserve purchasing power over time becomes more likely. This is similar to a homeowner who does not sell their apartment but gains proof of its value and more options when apartment prices rise. For a long-term holder, a rising bitcoin price can be read as a positive signal that the asset is being recognized by the market.

One bitcoin is always one bitcoin, but what it can buy, that is its purchasing power, changes over time. What one bitcoin could buy ten years ago is very different from what it can buy now. Ultimately, bitcoin investing is not just about increasing the number of units, but about investing in purchasing power, which determines how much of the homes, rice, and services we need in real life one can obtain. From this perspective, purchasing power cannot be ignored in practical life.

Feeling happy when prices rise or upset when they fall is a natural human emotion. However, rushing to buy more bitcoin because the price rose, or panic-selling because it fell, is an entirely different matter. What matters is acknowledging the emotional reaction to price movement while firmly keeping the investment principles one has set. Liking or disliking a price is one thing; being driven around by it is another.

An investor's stance on rising prices can differ depending on age and current asset status. For example, a 25-year-old office worker who has just started investing and is accumulating bitcoin may find rising prices make further purchases burdensome. Meanwhile, for an investor in their 60s or 70s who has already built a substantial bitcoin position, asset preservation and value maintenance matter more, so a price rise may be welcome.

Some people welcome price declines, while others welcome long-term price increases. This is a natural result of differing investment goals and circumstances. It is not right to judge who is a true Bitcoin maximalist (bitmax) and who is not based on such isolated reactions. A bitmax's identity should rest on a fundamental belief in bitcoin rather than on being thrilled or dismayed by every price move.

Saying you won't sell bitcoin does not mean you will never use it. Bitcoinhodler explains that, using methods such as an exchange ratio between one share of Berkshire Hathaway Class A stock and one bitcoin, one may consider exchanging assets when certain conditions are met. This connects to the idea of keeping open the possibility of real-world use, such as paying for a trip to Mars with bitcoin in the future. In other words, if an opportunity arises to maximize bitcoin's value, it can be exchanged for other assets or used to buy real assets.

A true ‘HODL’ does not mean holding bitcoin unconditionally like a religious vow. It means not carelessly disposing of an asset one believes in because of short-term price swings. Bitcoin is not simply a way to make money; it is a powerful means of storing present time-value and sending it into the future. Therefore, HODLing is the act of protecting an asset over the long term without being shaken by short-term market turbulence, based on a belief in bitcoin's fundamental value.

The reason bitcoinhodlers welcome price rises goes beyond the number going up. One purpose of investing in bitcoin is to guard against the erosion of purchasing power caused by inflation in fiat currency, among other things. Therefore, a rise in the bitcoin price serves as an indicator confirming that the purchasing power stored in bitcoin has not been eroded over the long term. This provides investors with peace of mind and strengthens their belief in bitcoin.

A true bitcoin HODLer is not someone who ignores the price altogether. Rather, they watch the price while not being emotionally dragged around by it, and they hold on to the original reasons and principles for owning bitcoin. When prices are low, they see an opportunity to buy more bitcoin; when prices are high, they take it as confirmation that their asset is recognized in the market and its purchasing power has risen. Maintaining this balanced view is the true HODLer's stance, bitcoinhodler says.