What is HODL, and where did it come from?

In brief

HODL describes holding rather than selling during a price decline. The word originated as a misspelling, not an acronym.

Where it came from

On 18 December 2013, the BitcoinTalk user GameKyuubi created a post titled “I AM HODLING.” Bitcoin was experiencing a sharp decline. The writer acknowledged the spelling error and explained that, not being a good short-term trader, they intended to keep holding.

HODL rearranges the letters in HOLD. The term spread through the forum and became part of everyday crypto vocabulary.

The later expansion

“Hold On for Dear Life” became a popular expansion later. It is not the phrase from which the original word was formed. The distinction matters: the primary post is available, so the origin need not be repeated on hearsay.

What it does and does not describe

HODL names an attitude toward price movements. It does not specify when to buy, how much to hold or what conditions would justify exiting.

The word itself promises no outcome. Holding has produced different results for different assets, periods and entry prices. Those returns are not measured in this guide.