HODL
Community slang for holding bitcoin for the long term, even when the price falls sharply. It began in 2013 with a typo (‘hodling’ instead of ‘holding’) in a forum post.
AlsohodlinghodlerHold On for Dear Life
In the Bitcoin community, ‘HODL’ means: buy bitcoin, keep it safe and hold on to it for the long term – even when the price falls sharply. People who do this are called ‘hodlers’.
Origin
On 18 December 2013, during a price crash, the user GameKyuubi posted ‘I AM HODLING’ on the Bitcointalk forum. The ‘D’ was a typo, which he noticed and left in. His point: if you’re not a skilled trader, you’re more likely to lose by selling in a panic and trying to buy back cheaper later.[1] The long form ‘Hold On for Dear Life’ was read into it only later.
What matters
HODL is an attitude, not a guarantee – nobody can predict the price. Holding for the long term only makes sense if you:
- only use money you won’t need for years,
- decide in advance why you’re holding and when you would sell,
- keep your bitcoin safe.
For tax, holding time matters in Germany: gains on privately held bitcoin are tax-free after more than one year (as of September 2026).[2] The reform tracker follows whether that stays the case. Other countries have their own rules; see Bitcoin tax around Europe.
Related terms
These terms are closely connected.
- This termHODL
- VolatilityA measure of how strongly a price fluctuates, usually given as annualised standard deviation in per cent. Bitcoin fluctuates much more than a broad stock index or gold – up and down.
- Drawdown (decline from the peak)The decline of a price from its last peak to the following low, as a percentage. Bitcoin has fallen by more than 75% several times; from October 2025 to June 2026, it fell by around 53% (in US dollars).
- FOMO (fear of missing out)‘Fear of missing out’. With Bitcoin, it’s the urge to buy quickly after sharp price rises. FOMO is a common trigger for costly bad decisions.
- Stack satsCommunity slang for regularly accumulating small amounts of bitcoin, counted in satoshis (sats) – usually via a savings plan and regardless of the price. 1 BTC is 100 million sats.
- Holding period (speculation period)In Germany, the gain from selling privately held bitcoin is tax-free if more than one year passes between purchase and sale (§ 23 EStG, as of September 2026). Each purchase has its own holding period.
Explained in depth
These articles go into more detail:
- Deep dive · Stage 6Holding long termWhat holding Bitcoin for years has meant historically, why the four-year cycle and stock-to-flow are no roadmap, and how to set rules before the next crash.
- Deep dive · Stage 6Psychology & disciplineFOMO, panic, loss aversion and confirmation bias: why emotions get expensive with Bitcoin, and how an information diet, if-then rules and an investment journal help.
- Stage 3 · Step 3Returns & riskWhat Bitcoin has returned since 2014, how deep the crashes were and how much it fluctuates compared with shares and gold – in US dollars, with sources and limits.
- Stage 6 · Step 3Bitcoin & taxWhen Bitcoin gains are tax-free in Germany: holding period, €1,000 exemption limit, FIFO per wallet, swaps, payments and losses – with worked examples.
More from „Community slang“
Sources2 sources · 2 publishers
The superscript numbers in the text refer to these sources.
- I AM HODLING – Bitcointalk forum (user GameKyuubi), 18.12.2013 (accessed 28/09/2026)
- § 23 EStG – Private Veräußerungsgeschäfte – German Federal Ministry of Justice (gesetze-im-internet.de) (accessed 28/09/2026)
This entry is for education only and is not investment, tax or legal advice.