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YouTuber Says He Made, Then Lost Over Rs 71 Crore in Crypto, Still Believes in It

Despite losing a massive chunk of his digital capital, KSI still believes Bitcoin is 'here to stay'. (Credit: KSI/Youtube)

Despite losing a massive chunk of his digital capital, KSI still believes Bitcoin is 'here to stay'. (Credit: KSI/Youtube)

KSI, is a British Youtuber and he said he had to experience such a loss to fully understand crypto-space, and he understands it now.

Olajide Olayinka Williams “JJ” Olatunji, popularly known as KSI, is a British YouTuber and Rapper. Recently, speaking on a podcast called Private Parts, KSI spoke about losing £7 million while investing in Bitcoin.

Telling about his journey to the listeners, he said, “I invested £2 million in November last year. From that, I made £7 million, but I lost all of it when Bitcoin crashed.” The YouTuber turned rapper said that he had to experience such a loss to fully understand crypto-space, and he understands it now.

Speaking intricately about the fluctuations that made him lose his £7 million, he added, “I put money into things where I used to leverage myself. This time, I kind of over-leveraged myself to a point where I lost all of it because I got liquidated. I was trying to put money into multiple things, and when Bitcoin crashed, I got bit.”

Despite losing a massive chunk of his digital capital, KSI still believes Bitcoin is “here to stay” and that the loss didn’t get him down. Reacting to the loss, he said, “I was like, OK, well big whoop.” But he further added, “There is no point crying over spilt milk. I was very lucky to churn out £7 million from the £2 million I invested, but I should have taken that money out and then gone back in when everything dropped.

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KSI is pretty optimistic about Bitcoin and said that it is the future. “No one wants to accept it, but it is here to say. Same with Ethereum. They all fluctuate, but if you stand back and look at the whole picture, it is gradually going up,” he said.

Cryptocurrency is the latest buzz in town. It has garnered immense love, hate, and curiosity from various kinds of people. Eminent personalities such as Elon Musk, Bill Gates, Gwyneth Paltrow, and many more have invested in this mystical money.

It is interesting to note that a new phenomenon if accepted by famous celebrities, is widely accepted by the masses. However, cryptocurrency is beyond the conventional. It has its fans and haters in equal amounts. Only time will tell if it is the future or a fluke.

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first published:July 19, 2021, 19:52 IST