The YouTube star and blogger under the pseudonym KSI has joined the camp of crypto investors who made their fortunes in the latest bull run of the cryptocurrency market and lost a lot of money during the fall of Bitcoin in May. However, he was not disappointed in the cryptosphere.
Quite the opposite: in a recent interview, the video blogger declared his dedication to Bitcoin and belief in a bright future for the industry. Let’s talk about the situation in more detail.
“If KSI were prime minister,” he would have ordered the distribution of £ 100 in Bitcoin to every citizen of his country as “financial support”, similar to the checks the US government distributed during the peak of the COVID-19 pandemic. Here is another quote from a celebrity in which he touched on the topic of cryptocurrencies.
The replica is provided by Cointelegraph.
I think the future belongs to Bitcoin. Investing in cryptocurrency will bring profit over the long haul. Those who bought BTC, in ten years from now, will laugh at everything that happens today.
It is important to note that the boom and bust cycles in the digital asset industry last for about four years. Therefore, we believe that holding one cryptocurrency for ten years does not make much sense. Firstly, at such a long distance, the project can simply die – if it is not a giant like Bitcoin or Ethereum. Secondly, during this time, the market will have time to update new highs and a local bottom – and these are opportunities for additional earnings.
Most likely, the so-called hodle for such a long period is suitable only for those investors who do not want or do not know how to follow the market and make investment decisions. In this case, such a strategy is really a simple way out in the situation, because the same BTC has shown exclusively growth over long distances.
We will remind, earlier Olajide Olatunji (real name KSI) invested about 2.7 million dollars in various cryptocurrencies, including Bitcoin. At the peak of the market’s growth, its investment capital rose to almost $ 10 million, however, KSI ultimately lost all the money in the crypto due to liquidation of its positions during the spring collapse of BTC.
But the blogger does not despair – he still believes in the enormous possibilities of the cryptosphere. He continues.
This is a long-term journey in which I am ready to participate.
Summarizing all of his «adventures» with Bitcoin, KSI noted that the reason for his failure was the use of «too much leverage» in trading. Recall that for many cryptocurrency lovers, the desire for large and instant profits is equal to using too risky crypto-exchange tools like margin trading. In the vast majority of cases, such strategies are doomed to complete failure, as can be seen in the example of KSI.
It’s not just youtubers who are realizing the potential of cryptoassets. On the eve of the founder of the Philipp Plein group of brands, Philip Patrick Plain, said on Instagram that now his company’s customers can pay for fashionable clothes in BTC, ETH and some other altcoins. Here’s a quote from CryptoPotato.
We started accepting 15 different cryptocurrencies in our online store plein.com and in our boutiques.
Plain himself welcomes innovation in finance and personally invests in crypto.
I am a crypto investor and I believe in the future of the industry, which is why I decided to add a new payment method to my stores. Together we make history.
Philipp Plein International AG hopes to achieve a record turnover of € 100 million this year. And the CEO of the company is counting on crypto to help the company do just that.
I believe that cryptocurrencies are the future, my team and I have invested a lot of time and resources completing all the necessary modifications to the payment system in order to accept digital assets. I am delighted to be able to offer our clients this additional payment instrument and the flexibility associated with it.
We believe that the support of digital assets from global celebrities is very important. Yet they have a ton of followers who may also be interested in the cryptocurrency niche at the behest of the stars. Well, here there is a possibility that some of the newcomers will have a thorough interest in the industry and will be able to succeed in investing.