HODL
A humorous misspelling of 'hold' that became a rallying cry for long-term Bitcoin holders.
"HODL" started as a 2013 forum typo. A holder named GameKyuubi, in the middle of a brutal market crash and a few drinks deep, posted a screed titled "I AM HODLING" explaining why he refused to sell. The post became legendary; the typo stuck.
Today "hodl" is shorthand for the strategy of buying Bitcoin and holding it through volatility, ignoring the noise of short-term price swings. It's the most quietly effective strategy in Bitcoin's history: every multi-year holder, regardless of when they entered, has at some point been told that selling now would be smart. Most who held instead are glad they did.
The cultural meaning runs deeper than "don't sell." Hodling implies you understand what you bought - that Bitcoin's value comes from monetary properties that mature over decades, not from clever entries and exits. People who trade Bitcoin frequently tend to hold less of it. People who hold it tend to hold it longer than they planned.
Sometimes back-formed as an acronym for "Hold On for Dear Life." That's a retrofit; the typo came first.
See also DCA, which is essentially hodling with new purchases.
Key takeaways
- Encourages ignoring short-term price swings
- Originated from a drunken forum post in 2013
- Became an iconic term in Bitcoin culture