YouTube star KSI is the latest celebrity figure to become a major bitcoin fan.
KSI Sure Loves His Bitcoin
In a recent interview, the video maker and rapper commented that bitcoin was “the future” and that it was a “long haul thing.” When asked what he would do if he was prime minister, he responded with:
I would give everyone 100 pounds worth of bitcoin, like a bitcoin stimulus package for all. I’m really into crypto. I think bitcoin is the future. It’s going to be long term, but in ten years’ time, people who invested will be laughing. Just look at how money is inflationary, compared to bitcoin, which isn’t. There’s a set amount. You can’t increase the amount of bitcoin and that has value. It feels like a lot of people are not really seeing that. They’re trying to look for quick money like, “Oh, I want to get in and out.’ This is a long-haul thing and I’m here for the journey.
KSI is the latest member of society to believe that bitcoin can potentially be used as an anti-inflation tool. In recent months, more fiat currency has been printed in several countries like the United States, which have sought to develop stimulus packages so that they can give people the extra financial boosts they need during the coronavirus pandemic. However, many financial analysts have scoffed at these procedures, claiming that money cannot simply be printed out of thin air.
Bitcoin, which at one point was considered just a speculative tool, is now looked at by many individuals as something that can potentially keep one’s wealth secure and safe during times of economic strife. They believe it cannot be overprinted or moved in the same way that standard money can. Thus, they look upon the asset as something that is much sturdier than fiat.
During his interview, KSI also detailed some rather negative and intimate details of his crypto journey, claiming that between November and December of 2020, he spent as much as seven million pounds on bitcoin – only to lose it all several months later when the price of the world’s number one digital currency by market cap took one of its nastiest dives.
Learning a Few Life Lessons
It’s been a full journey, but I had to experience it. I fully understand it now. I put money in things where I essentially leveraged myself and I kind of over leveraged myself to a point where I lost money because of it.
Despite the experience, KSI says he is not put off by crypto investing, and that he is “still fully” into the world of digital assets. He also doesn’t liken crypto investing to gambling, believing that cryptocurrency is far more stable and supported than people give it credit for.