The true secret to wealth is never written in textbooks.

After so many years in the crypto world, I've seen too many people talk about value investing but actually engage in gambling. Talking to folks in traditional stock markets, I realized that even Buffett himself has played some "wild tactics" that most retail investors can't even imagine.

In 1972, Buffett did something crazy—he financed Berkshire Hathaway with $20 million, at an 8% annual interest rate, for a full 20 years. He didn't sit on the sidelines; instead, he poured that money into the stock market and went all in. The result? He ran into the 1973-1974 stock market massacre. The Dow Jones Index plummeted from 1000 points straight down to 580 points, with unrealized losses so huge they were suffocating.

For ordinary people, that would have meant instant liquidation and bankruptcy. But this big shot? He held on through the massive losses and even increased his positions. This isn't some gentle investment philosophy—it's the mental toughness of a top-level gambler.

**Did Buffett also use leverage?**

That's right, you heard correctly. Young Buffett also played with leverage—and he played it fiercely. That $20 million loan was carried from 1972 all the way until 1993 before it was fully paid off—an incredibly bold move for that time.

Later, he advised ordinary investors not to touch leverage, but with a caveat: he is Buffett, with the courage, stable cash flow, and most importantly, the capacity to hold on until the end. Most retail investors? They lack that psychological resilience and the spare funds to weather extreme market conditions. That’s the gap.

**Greed is not impulsive; it’s a prepared decision**

In 1974, during the market’s most frantic panic, Buffett was actually in high spirits. While most people were cutting losses, he was picking up bargains. That’s the true meaning of "be greedy when others are fearful"—not blind optimism, but maintaining rational judgment in the most desperate moments.

The same applies in the crypto world. At the bottom of a bear market, 99% of people have already sold out, leaving only 1% who are truly waiting for a doubling. The question is, do you have that kind of resolve?