These are the cryptocurrency or NFT owners who hold for the long haul. These investors are in it for the long term and believe that the project will be successful in the future. People with diamond hands are unfazed by price swings, they have high risk tolerance. Especially when prices go down, the diamond hands will shine (accumulating more of the cryptocurrency when the price is low)!
By contrast, people with ‘’paper hands’’ tend to sell very quickly. Paper hands tend to have no risk tolerance and panic during the first minor inconvenience.
Diamond hands in a sentence
‘’A crypto investor with diamond hands will hold until the bitter end.’’
‘’Elon Musk said in his latest tweet that Tesla has “diamond hands” which means that the company will not be selling its $1.5 billion stakes in Bitcoin.’’
‘’Diamond handing is a form of stubbornness, however if you can sustain the lows you deserve the gains”.
History of Diamond hands
The slang diamond hands is thought to have originated on the forum website Reddit in the /r/WallStreetBets subreddit, where the term has been used since at least 2018. The term gained popularity in 2019, when multiple users began to frequently use the term in reference to persistently holding stocks.