Bag Definition | Decryptopedia™ by BabyPips.com

A bag or “holding a bag” is slang for owning some quantity of a specific cryptocurrency.

This can be a large amount or it could be small.

You could own a “large bag” of bitcoin (BTC) because you’re a Bitcoiner or a true believer of the blockchain.

Or as another example, upon the release of a brand new cryptocurrency, you buy a “small bag” of just a few coins of that currency to get exposure to something new and exciting, that has some real promise of getting popular.

Did you grab some of that GermanShepCoin, bro?

Oh definitely. After Elon tweeted about accepting it to buy a Tesla, I picked up a small bag. Moon baby!

Related Terms

Elon Musk

Elon Musk is the co-founder and CEO of Tesla. Elon Musk’s tweets have been known to disrupt cryptocurrency markets, creating both rallies and huge sell-offs, after he lends public support for or lays criticism against, various projects. Musk also shares his thoughts on Bitcoin regularly using Twitter, like announcing in 2021 that Tesla bought USD $1.5 billion worth of Bitcoin.

Bag holder

A Bag Holder normally describes someone that bought a currency at some price, only to see the digital asset’s price drop before he got a chance to sell it. Now he’s stuck with a bag of worthless cryptocurrencies. You don’t want to be a bag holder.

Moon

Moon or Mooning is slang, and it describes when a cryptocurrency’s price increases sharply and quickly in value. It soars up into the sky, towards the moon!

Laser Eyes

The Laser Eyes meme started out as a show of enthusiasm and community bonding during bitcoin’s (BTC) journey up to $100K. Several Bitcoin community members decided to add laser eyes to some friends’ avatars in hopes of fueling the entire crypto community to push bitcoin’s price to a new ATH.

Joy Of Missing Out (JOMO)

Opposite of the ever-popular FOMO, JOMO describes the happiness felt by traders and investors for NOT investing in a cryptocurrency or project whose value has dropped dramatically from previously higher levels.