RE: On Diversifying Outside of CryptoCurrencies
Yes, I 100% agree - for those in a good place through their crypto investments, you'd be crazy to leave all your eggs in one basket.
I too think the crypto market still has a LOT of upside, especially over the next 5 to 10 years, but there's also a chance Bitcoin gets hacked/broken tomorrow and the whole thing turns to s**t.
Being a paper millionnaire means nothing - you might be an ex-paper-millionnaire just a fast. And all you have is a good hard-luck story to tell.
There's no need to cash out, but even moving, say 10% out of crypto into something else makes a lot of sense. It can still be invested, but just not in something as high-risk. You won't make the crazy returns, but you'll also have something safer to fall back on. And, you'll still have your 90% riding the crazy, crypto rolla-coaster.