Thesis: Crypto is pure arbitrage masquerading as an investment market. The HODLer’s Fallacy is the belief that time in the market leads to long-term upside. This article unpacks why crypto rewards execution and not conviction.The Problem with HODLingThe crypto industry has built itself around a fundamental misconception: that superior returns come from selecting superior assets. Retail investors, venture capitalists, and index builders all fall into the same trap: trying to identify long-term...