HODL was later retrofitted to be an acronym (backronym) for âHold On for Dear Lifeâ and refers to not selling, even during strong market volatility and poor market performance.
HODL was originally a spelling mistake by a user named âGameKyuubiâ on BitcoinTalk. In the original BitcoinTalk thread titled âI AM HODLING,â GameKyuubi wrote:
I type d that tyitle twice because I knew it was wrong the first time. Â Still wrong. Â w/e. Â GF's out at a lesbian bar, BTC crashing WHY AM I HOLDING? I'LL TELL YOU WHY. Â It's because I'm a bad trader and I KNOW I'M A BAD TRADER.
HODL has since become a strategy used by people who admit they do not have the skills to do short-term trades - such as scalping, day trading, or swing trading. The term HODL has also inspired the creation of a similar term often, BUIDL, which is commonly used by the cryptocurrency community to refer to the many kinds of applications that are being built within the blockchain industry.