- Chris Sacca defended amateur traders but urged them not to use the borrowed money.
- Sacca ended up getting $ 4 million in debt as a student trading on margin.
- The billionaire investor said he owns multiple crypto tokens and stressed the importance of NFTs.
Billionaire investor Chris Sacca has encouraged meme stock buyers, warned novice traders of the dangers of debt, and trumpeted non-fungible tokens (NFTs) in tweets over the past year.
The founder of Lowercase Capital and former ‘Shark Tank’ star – who focused on tackling climate change and social justice issues in 2017 – also reflected on his hapless day trading as a student, and revealed he owns a variety of tokens.
Here are Sacca’s 12 best tweets on meme stocks, crypto, and day trading over the past year:
1. âTo everyone who got into stock trading this year, I have a little truth to tell you: you are not really good at it. You have just caught a wild bull market. Remove money from the table. “(December 23, 2020)
2. âTo the angry Robinhood brothers who got into stock trading this year: I was wrong. You are incredible. It has nothing to do with the market. . Double the bet, on the margin. Borrow whatever you can. The Stonks never come down! “- respond sarcastically to the reaction of day traders. (December 24, 2020)
3. “What percentage of crypto retail ownership is supported by leverage?” What about stocks? I am more than worried about the lessons of debt that a generation of app traders weren’t here to learn a cycle ago. “(December 26, 2020)
4. âIt’s fun to read about home traders who bank. Twenty years ago, I was one of you. Today I’m here to tell you: * Don’t trade with money you don’t own. I fixed my student loans, YOLO took them to $ 12 million, then in the blink of an eye I woke up with $ 4 million in debt. “(January 28, 2021)
5. âDebt has nothing to give when the price collapses. Debt doesn’t care who gets the last chair when the music stops. Debt haunts, persists and binds. Debt doesn’t end. don’t mind your green paper gainz screenshot, because two weeks later it sees the all red screen that you never post. ” (January 28, 2021)
6. “I have axes to beat against a lot of the guys you destroy, and I love hearing about real people stacking chips. But, please, from someone who’s been there and who knows the despair and depression to come: don’t trade what you can’t afford to lose. ” (January 28, 2021)
7. “I understand what’s going on with NFTs. Very cool and I’m a collector at heart. But I have a feeling that it will be the technology that finally turns me into the” Yeah, but I don’t. listen only on vinyl “.” – Sacca added that he doesn’t believe NFTs are in a bubble. (February 21, 2021)
8. “Wow. @Beeple. $ 69 million for a purely digital work. No matter what you think of NFTs, don’t take your eyes off this. The climate impact. But don’t intentionally ignore what’s going on. happens. ” – (March 11, 2021)
9. âOnly invest what you can lose. Don’t borrow. Spread it over several investments. And, overall, assume that you are going to lose your money and be pleasantly surprised if you get more back than what you invested. Good luck. “- (March 16, 2021)
10. “My only strong opinions on crypto: 1) the climate impact gets me down 2) but it’s the market push for many clean energy innovations, 3) it’s exciting and 4) I have a lot more to learn.: I have a large basket ranging from early BTC / ETH to shitcoin lottery tickets. ” – (May 15, 2021)
11. âOh, Stanford would never have accepted people like me. These were Georgetown Law student loans set up all over the online brokerage houses. And, to be clear, I finally lost face. Seven figures of debt with nothing to show for it. I do not recommend it. “- recalling how he traded on margin when he was a student. (September 20, 2021)
12. âI had so much shit for that tweet. It’s no fun being right. I’ve been in this market for a long time and took my tracks with everyone. I just tried. to help people not trade with money they don’t own. Now my inbox is filling with requests to free strangers from margin debt. ” – referring to the first tweet on this list. (December 3, 2021)