At the time of writing, bitcoin – the world’s number one digital currency by market cap – has slunk back a bit from its recent $50,000 excursion. That’s right… The world’s primary digital asset hit the $50K mark early this morning, though at press time, it has seemingly fallen back to a little over $48,000. However, Adam Malolsepszy – a 26-year-old who used to work in the finance industry – is finally embracing the asset for what it is and choosing to get involved.
Adam Malolsepszy Steps Aboard the Crypto Train at the Last Minute
Many critics of bitcoin continue to label the currency as a “bubble” of sorts. No matter how well the asset does, no matter how strong it gets or how big it becomes, the currency appears to attract detractors from time to time. Malolsepszy admits that at first, he didn’t think much of the asset. For years, he saw his friends and acquaintances get involved in the digital currency market, and throughout that time, he warned them that bitcoin was a “bubble waiting to burst.”
However, he admits that in late 2020, when bitcoin first struck $20,000 and then rose to $40,000, he began to have doubts that bitcoin was going anywhere. He saw a currency that was easily becoming the real deal, and eventually, he gave into FOMO or fear of missing out. He has since begun investing in crypto and believes that bitcoin and its altcoin cousins are about to strike some big chords.
In the past few weeks, he has invested in bitcoin, Dogecoin, Ethereum, Litecoin, Ripple and TRON amongst other assets. In a recent interview, he comments:
The volatility is insane. It’s a market that’s home to just so many speculators that make it hard to determine what the price should be… I’m sort of concerned I got in a little late… That I got in at the peak. Everyone’s overvalued it and there’s going to be a correction.
There Will Always Be Love for BTC
However, while he feels there will undoubtedly be corrections in the future of the crypto space, he does acknowledge that these assets and others like them will never shed their value completely simply because so many people have faith in them. Granted users continue to exist, he believes crypto will always have a solid place in the world of finance. He states:
I’m now starting to realize there’s some underlying value [in cryptocurrency] by the fact that so many people are supportive of it and believe there’s a future for digital currencies.
Interestingly, it appears many large companies – such as Tesla and Mastercard – boast the same sentiment as Malolsepszy. Tesla has invested more than $1.5 billion in bitcoin in recent days, with Elon Musk fully acknowledging that he’s “late to the party” when it comes to the asset. Mastercard has also put out a notice on its website claiming that it is “preparing for the future of crypto and payments.”