The most endearing thing about BTC is chatting with an early miner. Back then, China controlled 90% of BTC, and most people couldn't hold onto it due to the extreme volatility. Now, most BTC ends up in the hands of grey market operators and institutions. He said normal people really can't hold onto it. Someone bought BTC for a few dozen dollars, and by the time it rose tenfold, most of them had already sold. If it rose a hundredfold to over ten thousand dollars, those who didn't sell were either crazy, genuinely rich, or locked up. Looking at long-term investment, the value investing principles of Duan and Buffett are correct. Only by recognizing the value of assets over the long term can one ignore short- and medium-term fluctuations.