 | Money_talk_tok is a Tiktokker with 56.5K followers Money_talk_tok announced on 24 February 2022 that he bet his house on XRP when XRP was around $0.69 (nice). The amount was $500K. He did that "because there is so much fear in the market. Be greedy when others are fearful and fearful when others are greedy". Yes this is a literal quote from the video. His rationale for buying was based on the Fear & Greed Index because the market was at complete fear. Even though back then the Fear & Greed index was "only" at 23. His "investment" went up initially, but then dropped 59% from the point of buying XRP, meaning that his $500K through mortaging his house was worth $205K 114 days later. Right now, he is still down about 33% from his initial investment, even if XRP saw a 103% pump off the lows, which now retraced some again. Through in his words "have I lost money? No I havent, because I havent sold". 1 XRP = 1 XRP in his mind. Why on earth would someone do this!? No matter how much you believe in your crypto project, do not be this guy - do not invest more than you can lose and do not fucking mortgage your house or take any type of other loan. [link] [comments] |
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