The chances of being Keith Gill are probably the same as winning the lottery, and I would bet most retail actually lost money in the meme stock craze.
None of those are reproducible investment strategies, they’re “dumb money” gambles.
If someone did turn $100k into $2m using crypto and options, the smartest thing they could do is to cash out and go home, as they will never get more lucky than that.
[not financial advice]
>If someone did turn $100k into $2m using crypto and options, the smartest thing they could do is to cash out and go home, as they will never get more lucky than that.
And the true problem here is that this would be true if they turned $100k into $200k, $100k into $300k, $100k, into $400k... That is always the problem with these crypto discussions, it's all hypothetical, but anyone in this actual situation would have felt an incredible pressure to start taking their profit before they got to the most astronomical returns that are often cited.
As for your last statement, I don't disagree.
As for your first two, none of that matters, because all you asked for was a publicly-accessible way to turn $100k in 2017 into $2.5m today, in response to the claim that GP could have done it. A crypto or a stock YOLO is how. From what he said, he probably did purchase Bitcoin or something else that went up massively in value, but not enough of it to see a large absolute return. I myself was aware of Bitcoin just after its creation, and had a small amount to invest, but instead put most into a blue chip stock on advice from family. Forget $100k, I could have been a millionaire off of $1k. And I can tell you that I probably would have made that wager if I'd had $10k to invest at the time, let alone $100k. I wouldn't have been expecting such ridiculous returns, very few were. However, the common investment wisdom of relying on "time in the market" would have seen at least a portion of the initial investment through to today.
But that's a little beside the GP's original point, which was that generational wealth made those kinds of (highly speculative) investments tenable. I don't see the point in arguing that they don't when they clearly do. You're on a website founded by a company that exists specifically to invest in such a manner. The entire point is to find the "unicorn".
Fair point, I can’t argue with that.
But I will say, finding the unicorn is always a trivial exercise in hindsight and it’s a more difficult exercise to pick tomorrow’s winner. Everyone has a story of, “if I had just invested in Amazon in 2000, I’d be rich.”
If anybody has the next unicorn picks they want to share, I’m open to ideas :)