Though missing out on a huge payday, the 'Wake Up Call' rapper admits during an interview on the 'Private Parts' podcast he still believes that bitcoin and other cryptocurrencies are the future.
- Jul 19, 2021
AceShowbiz - British rapper KSI lost almost $10 million (£7.3 million) on a bitcoin investment after the market crashed in June.
The star reveals he poured $2.75 million (£2 million) into the cryptocurrency craze and quickly turned it into a $9.6 million (£7 million) profit - until the bubble burst last month.
However KSI, real name Olajide Olayinka Williams Olatunji, still believes that bitcoin and other cryptocurrencies are the future, and he's grateful for the investing experience, despite missing out on a huge payday.
"It's been a full journey, but I had to experience it. I had to really delve into the whole crypto space, and you know, I fully understand that now...," he said.
"I put money in things where I essentially leveraged myself and I kind of over-leveraged myself to a point where I lost money," he elaborated, "because I got liquidated, so I put a lot of money into something I got liquidated because of the bitcoin crash."
Shrugging off the loss, he continued, "It is what it is. I'll move on. There's no point crying over spilt milk."
Asked whether he considers cryptocurrency gambling, he said, "No, I don't think it is. I don't think it is gambling. It's not gambling. No, no, no, no. Bitcoin is here to stay. It is the future. It's just that no one wants to accept it... Yes, of course, it all fluctuates, but it's going up."
